Funds add to net short position in canola

(File photo by Dave Bedard)

MarketsFarm — Fund traders put more new bearish bets on canola in the second week of April, adding to their net short position, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).

The net managed money short position in ICE Futures canola came in Tuesday at 38,129 contracts (3,494 long/41,623 short), an increase of about 600 contracts from the previous week.

Open interest in the canola market was up by about 1,000 contracts, to 170,808, during the week.

At the Chicago Board of Trade, soybean traders put on more new shorts than longs, reducing their net long position to about 11,500.

Corn speculators added to their net short position by about 27,000 contracts, taking it to around 137,300.

In wheat, speculators reduced their net long position in Chicago soft wheat by about 2,000 contracts, taking it to 25,786. Kansas City hard red winter wheat only saw the net managed money long position rise to just over 5,000 contracts.

The managed money net short position in Minneapolis spring wheat declined slightly, to around 12,500 contracts.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.



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