Euronext wheat net-short grows 6% as March contract nears expiry

Euronext's commitment of traders report in the week to February 16 showed an increase in the net short position as large stocks and rising Russian export potential weighed on markets.

The May Euronext Milling Wheat contract settled at lows not seen since mid-2021 at €194.75/mt on February 19.

Investor wheat long positions decreased significantly over the week, coming down by 34,837 lots, to take the total number of long positions to 199,767 lots.

However, short positions in wheat on the exchange also fell by 7%, leading to a total of 338,188 lots.

The wheat net short position gained by 6% to 138,421.

Rapeseed long positions held by investors rose over the week, gaining by 2,720 lots, to take the total number of long positions to 24,739 lots.     

Short positions in rapeseed on the exchange were cut, falling by 7%, leading to a total of 68,454 lots.

The rapeseed net short position was reduced by 15% to 43,715.

Investor corn long positions fell over the week, decreasing by 481 lots, to take the total number of long positions to 5,858 lots.

Short positions in corn on the exchange fell significantly, decreasing by -9%, leading to a total of 14,409 lots.

The corn net short position fell by 9% to 8,551.