Glacier FarmMedia | MarketsFarm — The net fund short position in canola fell to its lowest level in six months during the week ended Oct. 22, as speculators covered bearish bets and put on new longs, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
The net managed money short position in canola futures came in at 66,349 contracts (14,664 long/81,013 short), down by roughly 21,000 contracts from the previous week and the lowest level since May 2024. Open interest in the canola market dipped by 1,579 on the week at 222,325 contracts.
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At the Chicago Board of Trade, the net short position in soybeans was up by about 17,500 contracts to come in at around 58,000. Meanwhile, the net long position in soyoil was up by about 13,000 at roughly 41,300 contracts.
The net short position in corn was down by 21,400 contracts to come in at roughly 87,800.
In wheat, the Chicago soft wheat market reported a net short position of 34,800 contracts. The net short in Kansas City hard red winter wheat came in at roughly 6,000 contracts. In Minneapolis spring wheat, managed money traders were holding a net short of 10,200 contracts as of Oct. 22.
