Financial investors reduce their net long position in Euronext wheat

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Non-commercial market participants reduced their net long position in Euronext milling wheat futures and options in the week to July 1, according to data released by Euronext on Wednesday.

Non-commercial participants, which include investment funds and financial institutions, reduced their net long position to 102,956 contracts from 120,385 a week earlier, the data showed.

Trade participants also reduced their net short position to 122,695 contracts from 142,829 a week earlier.

Short trade positions made up 66% of the total short position, while long trade positions made up 45.3% of the total long positions.

Non-commercial short positions represented 34% of total short positions, while net non-commercial long positions represented 54.7% of total long positions.

The report covered all open short positions and almost all open long positions in wheat derivatives.

On Euronext rapeseed futures and options, non-commercial market participants increased their net short position to 24,063 contracts from 23,525 the previous week.

Trading participants reduced their net short position in rapeseed to 20,112 contracts from 20,732 a week earlier.
Source: Reuters (reporting by Forrest Crellin; editing by Aditya Soni)

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