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Article: MARKET TALK: Open Interest In Jan Canola High.
- Article from:
- Resource News International
- Article date:
- December 22, 2004
CopyrightCOPYRIGHT 2004 Resource News International. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Winnipeg, MB, Dec 22, 2004 (Resource News International via COMTEX)
Traders have taken note that the open interest in Jan canola seems unusually high given that trade goes into the doldrums from about now until after the new year.
As of yesterday open interest in the Jan contract stood at 12,318 contracts. There were 3,353 contracts traded today and traders feel that even if open interest falls to 9,000 it is still quite large as the market faces a seasonal slowdown.
"You can bet that there is no commodity fund positions in Jan right now and that all those positions are being held by commercials", said one trade source. He felt that the number ...