MarketsFarm – Commodity fund traders added to their net short positions in canola and corn over the past week, according to the latest Commitment of Traders (CoT) report compiled by the United States Commodity Futures Trading Commission (CFTC). Managed money traders were also on the sell side in soybeans, reducing their net long position in that market.
The net managed money short position in ICE Futures canola came in at 53,435 contracts on Nov. 5, which was an increase of about 11,000 contracts from the previous week.
Open interest in the canola market rose by about 10,200 contracts, to 177,553 during the week.
At the Chicago Board of Trade the managed money long position in soybeans fell by about 10,000 contracts, to 53,435, with more bearish bets entering the market.
Speculators were on the sell side in corn during the week as well, with the net managed money short position growing by about 21,000 contracts, to 109,720.
