Euronext French Wheat and Corn gain both longs and shorts

French milling wheat and corn investors continued to increase both short and long positions in the week to June 2, according to the weekly commitment of traders data from the Euronext exchange.

The data from the European exchange showed that investors upgraded their long wheat positions by 15,578 lots, or 8% of the total position, increasing all longs to 204,210.

Shorts rose on week, up a similar 7% and reaching a total of 275,814 to leave the market in a net short position of 71,603, up 5% on the week and continuing the net short position seen last week.

Rapeseed contracts reported losses in both long and short positions resulting in a net short position.

Longs declined by 2,432 lots, or 7%, to 31,035, while shorts fell by 1,149 lots, or 2%, to 72,027 positions.

Overall, the changes left net shorts up 1,283 lots to 40,992, an increase of 3% on the previous week.

Addtionally, data for corn contracts showed an increase of 252 long positions, or 4%, leaving the total at 6,835.

Corn short positions increased by 575 lots, or 5%, bringing the total to 11,247.

Overall, due to the increase in short positions, the net short increased by 323 positions to 4,412.