MarketsFarm — Large fund traders have moved back to the short side in soybeans while only making small adjustments in canola, 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 20,366 contracts on Tuesday (6,601 long; 26,967 short), a decrease of about 1,000 contracts from the previous week.
Open interest in the canola market increased by about 1,400 contracts, to 187,942 during the week.
At the Chicago Board of Trade, managed money shifted back to a net-short position. Investors liquidated about 10,000 longs and put on nearly 12,000 new short positions, which took the overall net short to about 19,000 contracts, from 3,000 long the previous week.
Meanwhile, corn saw the opposite activity during the week, with the overall net-short position declining by about 14,000 contracts, to 65,890.
— Phil Franz-Warkentin reports for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.
