MarketsFarm — Fund traders remained on the short side in the ICE Futures canola market during the week ended Tuesday, adding to their large net short position, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).
According to the latest report, managed money and other reportable speculators increased their net short position in canola by roughly 3,000 contracts, to 58,631, during the week ended Tuesday.
The net commercial long position also grew during the week, hitting 58,727.
Open interest in the canola market increased by roughly 6,500 contracts, to 191,050.
At the Chicago Board of Trade, speculative short-covering was a feature during the reporting period, with the net fund short position in soybeans declining to 40,480 contracts from roughly 66,000 the previous week.
— Phil Franz-Warkentin writes for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market reporting.
