Glacier FarmMedia — The speculative net long position in canola continues to grow, hitting its largest level in eight months according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC) released Friday, March 20.
Why it matters: A large fund position can sway the futures markets
The net managed money long position in canola futures came in at 110,658 contracts as of March 17 (135,694 long/25,036 short), up by about 18,000 contracts on the week due to a combination of short covering and new longs going on the books. That marked the largest net long position since July 2025.
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Total open interest in canola futures increased to 364,317 contracts from 352,531 the previous week.
U.S. futures
Fund traders reduced their net long position in soybeans at the Chicago Board of Trade by roughly 16,000 contracts, with the net long dipping to about 195,200 contracts. That was the first contraction after six previous weeks of increases.
The net short position in corn came in at about 230,800 contracts on March 17, up by 32,000 contracts on the week.
In wheat, the Chicago soft wheat market reported a net short position of 11,900 contracts — down by about 10,000 contracts from the previous week.
Hard red winter wheat posted a net long of about 11,300 contracts. In MIAX spring wheat, the managed money net long position came in at about 15,300 contracts.
