Funds holding record-large net long position in canola

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Published: January 8, 2022

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(File photo by Dave Bedard)

MarketsFarm — Fund traders remain bullish in the canola market, growing their net long position to a new record in the latest Commitment of Traders report compiled by the U.S. Commodity Futures Trading Commission (CFTC).

Managed money fund traders were holding a net long position in ICE Futures canola of 68,140 contracts as of Jan. 4 (70,954 long/2,814 short), up by roughly 2,500 from the previous week. The net long marked the largest since canola was first included in the CFTC data in August 2018.

Open interest in the canola market increased by 715 contracts on the week to come in at 177,652 contracts.

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At the Chicago Board of Trade, the managed money net long position in soybeans came in at just over 100,000 contracts, rising slightly from the previous week.

Meanwhile, there was some long liquidation in the corn market, which saw the net long position decline by about 7,000 contracts, to come in at around 355,300.

The Chicago soft wheat net short position grow to 22,700 contracts. The Kansas City net long was down by about 7,000 contracts, at 51,200. Managed money traders in the Minneapolis spring wheat market were holding a net long of about 9,450 contracts, which was down by about 2,500 from the previous week.

— Phil Franz-Warkentin reports for MarketsFarm from 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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