Canola short position up again in early March

Reading Time: < 1 minute

Published: March 11, 2024

Photo: Canstock

Glacier FarmMedia – The net speculative short position in canola continued to rise in the first trading days of March, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).

As of March 5, 2024, the net managed money short position in canola futures came in at 153,833 contracts (7,160 long/160,993 short), which was up by roughly 3,800 contracts from the previous week and a new record.

Open interest in the canola market was up by 12,307 contracts on the week at 303,516 contracts.

Read Also

Detail from the front of the CBOT building in Chicago. (Vito Palmisano/iStock/Getty Images)

U.S. grains: Wheat futures rise on supply snags in top-exporter Russia

U.S. wheat futures closed higher on Thursday on concerns over the limited availability of supplies for export in Russia, analysts said.

At the Chicago Board of Trade, the net short position in soybeans increased by about 9,000 contracts on the week to it hits highest level in nearly five years at around 160,300 contracts.

Meanwhile, the net short position in corn lost about 2,000 contracts on the week to come in at roughly 285,800 contracts.

In wheat, the Chicago soft wheat market reported a net short position of about 64,800 contracts. The net short in Kansas City hard red winter wheat came in at roughly 40,000 contracts. In Minneapolis spring wheat, managed money traders were holding a net short of around 24,200 contracts.

Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg. 

About the author

Phil Franz-Warkentin

Phil Franz-Warkentin

Editor - Daily News

Phil Franz-Warkentin grew up on an acreage in southern Manitoba and has reported on agriculture for over 20 years. Based in Winnipeg, his writing has appeared in publications across Canada and internationally. Phil is a trusted voice on the Prairie radio waves providing daily futures market updates. In his spare time, Phil enjoys playing music and making art.

explore

Stories from our other publications