MarketsFarm — The managed money long position in canola held relatively steady during the week ended Aug. 8, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC).
As of Aug. 8, the net managed money long position in canola futures came in at 23,753 contracts (49,339 long, 25,856 short), a move of about 1,000 contracts from the previous week.
Open interest in the canola market came in at 245,931 contracts on Aug. 8, which was up by 1,382 from the previous week.
At the Chicago Board of Trade, fund traders were holding a net long of about 63,000 contracts in soybeans which was down by about 23,000 from the previous week.
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Meanwhile, the managed money position in corn flipped back to the short side, moving from a net long of about 12,000 contracts to a net short of 33,000.
In wheat, the Chicago soft wheat market reported a net short position of about 62,000 contracts. The net long in Kansas City red winter wheat came in at roughly 5,000 contracts. In Minneapolis spring wheat, managed money traders were holding a net long of around 4,500 contracts.
— Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg.
