COT Metals Charts: Copper Speculator bullish bets jump by most in 97-weeks

October 22, 2021

By InvestMacro.com COT Home | Data Tables | Data Downloads | COT Newsletter

Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday October 19th 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Highlighting this week’s COT Metals data was a surge in speculator’s Copper bullish bets which jumped by over +18,000 net contracts. Copper speculative positions rose by the largest one-week amount in the past ninety-seven weeks, dating all the way back to December 10th of 2017 when bullish bets increased by +20,559 contracts. This week’s positive sentiment has pushed the current speculator bullish positioning to a total of +40,584 contracts and its highest standing since May 11th, a span of twenty-three weeks. Overall, Copper speculator bets have now remained in bullish territory for seventy-two straight weeks since turning bullish on June 9th of 2020.


Data Snapshot of Commodity Market Traders | Columns Legend
Oct-19-2021 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 2,205,089 44 429,594 49 -473,181 41 43,587 76
Gold 485,974 22 193,349 56 -219,190 43 25,841 43
Silver 143,664 10 30,356 53 -44,580 55 14,224 23
Copper 225,225 44 40,584 72 -46,208 28 5,624 58
Palladium 9,061 12 -2,416 5 2,355 93 61 48
Platinum 58,570 19 14,844 24 -21,176 79 6,332 50
Natural Gas 1,318,498 48 -131,070 39 86,574 58 44,496 92
Brent 202,714 41 -28,018 73 23,413 23 4,605 76
Heating Oil 415,556 56 26,441 81 -50,250 18 23,809 81
Soybeans 750,939 33 43,541 41 -9,575 64 -33,966 15
Corn 1,404,126 5 277,029 65 -218,172 41 -58,857 9
Coffee 304,874 62 68,889 99 -73,100 3 4,211 17
Sugar 871,316 21 211,550 80 -243,564 22 32,014 47
Wheat 394,949 27 -8,566 40 18,180 59 -9,614 56

 


Gold Comex Futures:

Federal Funds 30-Day Bonds Futures COT ChartThe Gold Comex Futures large speculator standing this week was a net position of 193,349 contracts in the data reported through Tuesday. This was a weekly gain of 7,810 contracts from the previous week which had a total of 185,539 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 55.8 percent. The commercials are Bearish with a score of 43.4 percent and the small traders (not shown in chart) are Bearish with a score of 43.0 percent.


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Gold Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 61.7 22.0 9.5
– Percent of Open Interest Shorts: 21.9 67.1 4.2
– Net Position: 193,349 -219,190 25,841
– Gross Longs: 299,882 107,128 46,194
– Gross Shorts: 106,533 326,318 20,353
– Long to Short Ratio: 2.8 to 1 0.3 to 1 2.3 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 55.8 43.4 43.0
– COT Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -3.5 4.3 -10.2

 


Silver Comex Futures:

2-Year Treasury Bonds Futures COT ChartThe Silver Comex Futures large speculator standing this week was a net position of 30,356 contracts in the data reported through Tuesday. This was a weekly rise of 12,369 contracts from the previous week which had a total of 17,987 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 52.6 percent. The commercials are Bullish with a score of 55.2 percent and the small traders (not shown in chart) are Bearish with a score of 23.0 percent.

Silver Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 46.3 28.2 18.9
– Percent of Open Interest Shorts: 25.2 59.3 9.0
– Net Position: 30,356 -44,580 14,224
– Gross Longs: 66,572 40,556 27,203
– Gross Shorts: 36,216 85,136 12,979
– Long to Short Ratio: 1.8 to 1 0.5 to 1 2.1 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 52.6 55.2 23.0
– COT Index Reading (3 Year Range): Bullish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 1.8 -1.3 -2.8

 


Copper Grade #1 Futures:

5-Year Treasury Bonds Futures COT ChartThe Copper Grade #1 Futures large speculator standing this week was a net position of 40,584 contracts in the data reported through Tuesday. This was a weekly advance of 18,103 contracts from the previous week which had a total of 22,481 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 71.6 percent. The commercials are Bearish with a score of 27.7 percent and the small traders (not shown in chart) are Bullish with a score of 57.8 percent.

Copper Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 46.0 35.1 8.5
– Percent of Open Interest Shorts: 27.9 55.6 6.0
– Net Position: 40,584 -46,208 5,624
– Gross Longs: 103,496 79,080 19,249
– Gross Shorts: 62,912 125,288 13,625
– Long to Short Ratio: 1.6 to 1 0.6 to 1 1.4 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 71.6 27.7 57.8
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 12.2 -11.5 -1.4

 


Platinum Futures:

10-Year Treasury Notes Bonds Futures COT ChartThe Platinum Futures large speculator standing this week was a net position of 14,844 contracts in the data reported through Tuesday. This was a weekly lift of 3,925 contracts from the previous week which had a total of 10,919 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 23.8 percent. The commercials are Bullish with a score of 78.8 percent and the small traders (not shown in chart) are Bullish with a score of 50.4 percent.

Platinum Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 52.8 27.9 15.8
– Percent of Open Interest Shorts: 27.4 64.1 5.0
– Net Position: 14,844 -21,176 6,332
– Gross Longs: 30,917 16,346 9,238
– Gross Shorts: 16,073 37,522 2,906
– Long to Short Ratio: 1.9 to 1 0.4 to 1 3.2 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 23.8 78.8 50.4
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 12.3 -11.0 -11.5

 


Palladium Futures:

Ultra 10-Year Treasury Notes Bonds Futures COT ChartThe Palladium Futures large speculator standing this week was a net position of -2,416 contracts in the data reported through Tuesday. This was a weekly advance of 80 contracts from the previous week which had a total of -2,496 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 4.6 percent. The commercials are Bullish-Extreme with a score of 93.3 percent and the small traders (not shown in chart) are Bearish with a score of 48.2 percent.

Palladium Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.8 49.8 15.1
– Percent of Open Interest Shorts: 58.5 23.8 14.5
– Net Position: -2,416 2,355 61
– Gross Longs: 2,882 4,515 1,372
– Gross Shorts: 5,298 2,160 1,311
– Long to Short Ratio: 0.5 to 1 2.1 to 1 1.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 4.6 93.3 48.2
– COT Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -11.4 11.2 -2.2

 


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*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).