Fund short-covering continues in canola, soybeans

Reading Time: < 1 minute

MarketsFarm — Fund traders continued to exit short positions in soybeans and canola futures during the first week of 2020, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).

The net managed money short position in ICE Futures canola came in Tuesday at 33,243 contracts, a decrease of about 8,000 contracts from the previous week.

Open interest in the canola market increased by about 3,600 contracts, to 178,271 during the week.

At the Chicago Board of Trade, short-covering was a feature in soybeans, with the managed-money net-short declining to only 2,851 contracts.

Corn futures saw mixed activity during the week, with a mixture of short-covering and long-liquidation causing the net-short position to rise by about 500 contracts, to 85,507.

— Phil Franz-Warkentin reports for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.

Related Articles

explore

Stories from our other publications