Why it matters: A large fund position can sway the futures markets

The net managed money long position in canola futures came in at 26,844 contracts as of Feb. 24 (71,072 long/44,228 short), up by about 21,000 contracts on the week due to a combination of short covering and new bullish bets going on the books. That marked the largest net long position since August 2025.

Total open interest in canola futures dipped to 296,019 contracts from 305,730 the previous week.

U.S. futures

Fund traders grew their net long position in soybeans at the Chicago Board of Trade by roughly 12,000 contracts, with the net long rising to about 171,400 contracts.

The net short position in corn came in at about 13,200 contracts on Feb. 24, down by 30,000 contracts on the week.

In wheat, the Chicago soft wheat market reported a net short position of 17,800 contracts — down by about 52,000 contracts from the previous week as bullish chart signals had speculators covering short positions and putting on new longs.

Hard red winter wheat moved from a net short of about 11,100 to a net long of 6,300 contracts. That marked the first net long fund position for the market in two-and-a-half years. In MIAX spring wheat, the managed money net short position was cut from about 18,700 contracts to 9,800.

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Why it matters: A large fund position can sway the futures markets

The net managed money short position in canola futures came in at 42,379 contracts as of Feb. 3 (40,584 long/82,963 short). That was down by about 10,000 contracts from the previous week on a combination of short covering and new longs going on the books. It marks the smallest net short in canola in two months.

Total open interest in canola futures increased to 296,432 contracts, from 254,979 the previous week.

U.S. futures

Fund traders grew their net long position in soybeans at the Chicago Board of Trade by roughly 10,000 contracts, with the net long rising to just over 29,000 contracts from about 19,800 the previous week.

The net short position in corn came in at about 80,600 contracts on Feb. 3, holding relatively steady on the week.

In wheat, the Chicago soft wheat market reported a net short position of 81,500 contracts. The net short in hard red winter wheat came in at roughly 7,800 contracts. In MIAX spring wheat, managed money traders were holding a net short of around 20,800 contracts as of Feb. 3.

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Why it matters: A large fund position can sway the futures markets

Reporting was halted during the 43-day shutdown that began Oct. 1, and backdated reports will be released twice a week over the next two months until the data is current by late January.

The net managed money long position in canola futures came in at 13,741 contracts as of Sept. 30 (47,649 long/61,400 short). That was up by about 9,000 contracts from the previous week and marks the largest net short in canola since April.

Canola futures trended steadily higher during the data blackout — a sign that the speculative money moved back to the long side in the oilseed.

Fund traders were also short soybeans at the Chicago Board of Trade ahead of the government shutdown. The net short of about 31,600 contracts in soybeans as of Sept. 30 was the largest short position since early August. Soybean futures also moved higher since late September.

The net short position in corn came in at about 129,300 contracts on Sept. 30.

In wheat, the Chicago soft wheat market reported a net short position of 96,200 contracts. The net short in hard red winter wheat came in at roughly 54,100 contracts. In MIAX spring wheat, managed money traders were holding a net short of around 26,200 contracts as of Sept. 30.

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The net managed money long position in canola futures came in at 48,915 contracts as of April 22 (83,894 long/34,979 short) — an increase of about 32,000 contracts compared to the previous week.

Open interest in the canola market was up by 14,198 contracts on the week at 211,810 contracts.

At the Chicago Board of Trade, the net long position in soybeans of about 53,200 contracts increased by 10,000 contracts from the previous week. Meanwhile, the net long position in soyoil was up 11,000 at about 55,700 contracts.

The net long position in corn was down by about 13,000 contracts to come in at roughly 132,400.

In wheat, the Chicago soft wheat market reported a net short position of 81,600 contracts. The net short in hard red winter wheat came in at roughly 51,600 contracts. In MIAX spring wheat, managed money traders were holding a net short of around 16,600 contracts as of April 22.

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After hitting a record net long position for canola of 84,850 contracts on Feb. 25, speculators had reduced that position by about 57,000 contracts in the span of two weeks, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).

The net managed money long position in canola futures came in at 27,939 contracts as of March 11 (78,476 long/50,537 short) — a decline of roughly 37,000 contracts from the previous week.

Open interest in the canola market was only down by 2,177 on the week at 239,565 contracts.

Net short down in soybeans

At the Chicago Board of Trade, the net short position in soybeans of about 7,900 contracts was down by about 16,000 contracts from the previous week as traders covered some of those shorts and put on new longs. Meanwhile, soyoil moved from a net long position of 9,750 contracts to a net short of about 13,300.

Corn traders liquidate some longs

The net long position in corn was down by about 74,000 contracts to come in at roughly 132,400.

In wheat, the Chicago soft wheat market reported a net short position of 76,300 contracts. The net short in Kansas City hard red winter wheat came in at roughly 47,900 contracts. In Minneapolis spring wheat, managed money traders were holding a net short of around 25,600 contracts as of March 11.

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Just a week after the managed money position in canola moved to a net long for the first time in one-and-a-half years, those bearish bets hit their largest level in records going back to 2018.

The net managed money long position in canola futures came in at 72,101 contracts as of Feb. 18 (106,682 long/34,581 short) — an increase of roughly 28,000 contracts from the previous week. That compares with the previous record managed money long canola futures position of 71,586 hit in January 2022.

Open interest in the canola market fell by 14,733 on the week at 249,095 contracts.

At the Chicago Board of Trade, the net long position in soybeans fell by about 9,000 contracts, to come in at roughly 33,700 contracts. Meanwhile, the net long position in soyoil was up by about 7,000 contracts, at about 57,500

The net long position in corn was up by about 33,600 contracts to come in at roughly 359,800

In wheat, the Chicago soft wheat market reported a net short position of 47,800 contracts. The net short in Kansas City hard red winter wheat came in at roughly 23,300 contracts. In Minneapolis spring wheat, managed money traders were holding a net short of around 7,800 contracts as of Feb. 18.

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The net managed money long position in canola futures came in at 43,434 contracts as of Feb. 11 (85,382 long/41,948 short) — a swing of roughly 51,000 contracts from the previous week’s net short position. Open interest in the canola market increased by 1,583 on the week at 263,828 contracts.

At the Chicago Board of Trade, the net long position in soybeans fell by about 30,000 contracts, to come in at roughly 42,200 contracts. Meanwhile, the net long position in soyoil was up by about 5,500 contracts, at just under 50,000.

The net long position in corn was down by about 35,000 contracts to come in at roughly 326,200

In wheat, the Chicago soft wheat market reported a net short position of 74,200 contracts. The net short in Kansas City hard red winter wheat came in at roughly 29,700 contracts. In Minneapolis spring wheat, managed money traders were holding a net short of around 10,900 contracts as of Feb. 11.

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The net managed money short position in canola futures came in at 7,953 contracts as of Feb. 4 (60,408 long/68,361 short), down by roughly 27,000 contracts from the previous week on a combination of short-covering and new buying. Open interest in the canola market dropped by 11,687 on the week at 262,245 contracts.

At the Chicago Board of Trade, the net long position in soybeans held steady at around 72,800 contracts. Meanwhile, the net long position in soyoil was up by about 6,000 contracts, at 45,400.

The net long position in corn was up by about 8,000 contracts to come in at roughly 361,400 — the highest level in three years.

In wheat, the Chicago soft wheat market reported a net short position of 82,000 contracts. The net short in Kansas City hard red winter wheat came in at roughly 35,250 contracts. In Minneapolis spring wheat, managed money traders were holding a net short of around 15,000 contracts as of Feb. 4.

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The net managed money short position in canola futures came in at 115,643 contracts as of Dec. 3 (9,546 long/125,189 short), up by roughly 31,000 contracts from the previous week. Open interest in the canola market climbed by 24,768 on the week at 298,227 contracts.

At the Chicago Board of Trade, the net short position in soybeans was down by about 13,000 contracts to come in at around 45,500. Meanwhile, the net long position in soyoil was down by about 14,000 contracts, at 7,300.

The net long position in corn was down by 10,000 contracts to come in at roughly 73,200.

In wheat, the Chicago soft wheat market reported a net short position of 70,900 contracts. The net short in Kansas City hard red winter wheat came in at roughly 39,500 contracts.

In Minneapolis spring wheat, managed money traders were holding a net short of around 32,150 contracts as of Dec. 3. That marked the largest net short in spring wheat on record going back to 2006.

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The net managed money short position in canola futures came in at 33,047 contracts (26,638 long/59,685 short), down by roughly 33,000 contracts from the previous week and the lowest level since September 2023. Open interest in the canola market fell by 10,641 on the week at 211,684 contracts.

At the Chicago Board of Trade, the net short position in soybeans was up by about 3,800 contracts to come in at around 61,800. Meanwhile, the net long position in soyoil was dipped slightly to 37,200 contracts.

The net short position in corn was down by 52,300 contracts to come in at roughly 35,500.

In wheat, the Chicago soft wheat market reported a net short position of 36,000 contracts. The net short in Kansas City hard red winter wheat came in at roughly 9,500 contracts. In Minneapolis spring wheat, managed money traders were holding a net short of around 16,000 contracts as of Oct. 29.

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