MarketsFarm — The net long position held by fund traders in the ICE Futures canola market continued to dwindle in the latest Commitment of Traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC), hitting its smallest level since August 2021.
The net managed money long position in ICE Futures canola came in at 32,451 contracts on Tuesday (38,504 long/6,053 short), a decrease of about 2,000 contracts from the previous week.
While speculators were booking profits on their long positions, open interest in the canola market was still higher moving up by about 3,700 contracts, to 147,369 during the week.
At the Chicago Board of Trade, fund traders reduced their net long position in soybeans by about 1,500 contracts, taking it to about 158,400.
The corn managed money net short position fell by roughly 13,600 contracts, to about 253,200.
In wheat, investors also reduced their net long positions, with the Chicago soft wheat net at about 6,900 contracts, Kansas City at 35,000 and Minneapolis spring wheat at 13,000.
— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.
