Funds shift to long side in soybeans, covering canola shorts

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Published: January 17, 2020

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(Dave Bedard photo)

MarketsFarm — Fund traders moved to a small net long position in soybeans and reduced their overall short position in canola during the second week of January, 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 21,401 contracts, a decrease of about 12,000 contracts from the previous week.

Open interest in the canola market increased by about 8,300 contracts, to 186,574 during the week.

At the Chicago Board of Trade, the managed money shifted to a net-long position from a small net-short the previous week, coming at 3,185 contracts.

Corn futures saw mixed activity during the week, with the overall net-short position declining by about 6,000 contracts, to 79,140.

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

 

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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