Managed money’s net long position grows in canola

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Published: August 7, 2020

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(Dave Bedard photo)

MarketsFarm — Fund traders remained on the buy side in canola in early August, adding to their recently established net long position, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).

Managed money fund traders were holding a net long position in ICE Futures canola of 24,489 contracts as of Tuesday (36,695 long/12,206 short), up by about 15,000 contracts on the week.

That number represents the largest net long position in canola since the CFTC started tracking ICE canola at the beginning of the 2018-19 crop year.

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Open interest in the canola market increased by about 17,000 contracts on the week, coming in at 189,914 contracts.

At the Chicago Board of Trade the managed money net long position in soybeans was down by about 15,000 contracts, at around 43,650.

Meanwhile, the net short position in corn rose by about 36,000 contracts to around 194,100.

In wheat, activity was mixed. Managed money moved from a small net long position in Chicago soft wheat to a small net short of just under 1,000 contracts.

The Kansas City hard red winter wheat net short increased by about 6,000 contracts, at 26,500. The managed money net short in Minneapolis spring wheat was up by about 900 to come in at about 22,005 contracts.

— 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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