Fund short position rises in canola

Winnipeg – Fund traders added to their net short position in ICE Futures canola contracts during the week ended March 5, according to the latest Commitment of Traders (CoT) report compiled by the United States Commodity Futures Trading Commission (CFTC).

After being delayed by the United States government shutdown, the CFTC was finally up-to-date with their reporting on March 8. According to the latest report, managed money and other reportable speculators increased their net short position in canola by nearly 8,000 contracts, to roughly 46,800, during the week ended March 5.

The net commercial long position also grew during the week, hitting 47,254.

Total open interest in the canola market increased by about 13,000 contracts compared to the previous week, to come in at 182,391 contracts.

For canola, less than one per cent of the total open interest was counted as non-reportable in the latest CoT report. That compares with soybean futures at the Chicago Board of Trade where about 10 per cent of the open interest was non-reportable.

At the CBOT, speculators also added to their net short position in soybeans during the week, which increased by 8,000 contracts, to 30,931.

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