Fund long position edges higher in canola

Net long in CBOT soybeans down on week

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Published: September 5, 2023

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(File photo by Dave Bedard)

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.

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.

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