Non-commercial market participants cut their net long position in Euronext’s milling wheat futures and options in the week to July 1, data published by Euronext on Wednesday showed.
Non-commercial participants, which include investment funds and financial institutions, lowered their net long position to 102,956 contracts from 120,385 a week earlier, the data showed.
Commercial participants similarly cut their net short position to 122,695 contracts from 142,829 a week earlier.
Commercials’ short positions accounted for 66% of the total short position, while commercial long positions accounted for 45.3% of total long positions.
Non-commercial short positions represented 34% of total short positions, while non-commercial net long positions accounted for 54.7% of the total longs.
The report covered all of the open short positions and nearly all of the open long positions in the wheat derivatives.
In Euronext’s rapeseed futures and options, non-commercial market participants increased their net short position to 24,063 contracts from 23,525 a week earlier.
Commercial participants reduced their net short position in rapeseed to 20,112 contracts from 20,732 a week earlier.
