Large fund short position in canola edges lower

Net short position in soybeans grew to its largest level in nearly four years

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Published: January 29, 2024

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Glacier FarmMedia – Managed money fund traders only made small adjustments to their large net short position in canola futures during the week ended Jan. 23, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).

As of Jan. 23, 2024, the net managed money short position in canola futures came in at 131,354 (4,489 long/135,843 short), which was down by about 1,500 from the previous week.

Open interest in the canola market came in at 274,842 contracts, which was up by 11,500 on the week.

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At the Chicago Board of Trade, the net short position in soybeans grew to its largest level in nearly four years, increasing by about 17,600 contracts on the week at about 96,400 contracts.

Meanwhile, the net short position in corn grew by about 4,000 contracts on the week to come in at roughly 275,500 contracts.

In wheat, the Chicago soft wheat market reported a net short position of about 70,300 contracts. The net short in Kansas City hard red winter wheat came in at roughly 36,800 contracts. In Minneapolis spring wheat, managed money traders were holding a net short of around 30,400 contracts.

Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in 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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