MarketsFarm — The managed money long position in canola edged slightly higher during the week ended Aug. 29, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC).
As of Aug. 29, 2023, the net managed money long position in canola futures came in at 13,904 contracts (41,949 long, 28,045 short), an increase of about 5,000 contracts from the previous week.
Open interest in the canola market came in Aug. 29 at 281,208 contracts, up by 13,956 from the previous week.
At the Chicago Board of Trade, fund traders were holding a net long of about 84,900 contracts in soybeans, down about 30,000 from the previous week. Meanwhile, the net short position in corn declined to about 91,000 contracts, from 121,000 the previous week.
In wheat, the Chicago soft wheat market reported a net short position of about 83,800 contracts. The net short in K.C. red winter wheat came in at roughly 5,700 contracts. In Minneapolis spring wheat, managed money traders were holding a net short of around 8,700 contracts.
— Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg.
