15 Oct

COT Metals Charts: Speculators Palladium futures bets remain bearish for 8th week

October 15, 2021

By InvestMacro.com COT Home | Data Tables | Data Downloads | 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 12th 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 is the Palladium speculator contracts which are now in their eighth straight week of bearish levels. Palladium has seen its fortunes fall in the second half of 2021 after a multi-year uptrend brought prices to all-time high levels in May of 2021. Palladium prices have now cooled off by approximately 30 percent since May and has prompted speculators to take on bearish positions (negative net contracts). Amazingly, when spec contracts went negative on August 24th, this marked the first negative net speculator position since February 25th of 2003, according to the CFTC data, a span of more than eighteen years.

Data Snapshot of Commodity Market Traders | Columns Legend
Oct-12-2021OIOI-IndexSpec-NetSpec-IndexCom-NetCOM-IndexSmalls-NetSmalls-Index
WTI Crude2,231,22748404,77641-453,6844648,90884
Gold484,38221185,53954-207,6144622,07533
Silver139,403617,98740-30,2926912,30511
Copper194,8172322,48159-25,867423,38645
Palladium9,29613-2,49642,62595-12937
Platinum59,3442110,91918-16,756855,83743
Natural Gas1,314,02240-130,9023991,2016039,70179
Brent205,52144-34,9245729,563375,36182
Heating Oil429,9086839,137100-65,644126,50790
Soybeans759,1013541,99041-9,66564-32,32518
Corn1,400,3774279,28866-223,33640-55,95211
Coffee305,1416269,08599-73,80824,72321
Sugar891,67225246,18887-294,6741248,48668
Wheat385,20423-4,5344312,96953-8,43561

 

Gold Comex Futures:

Federal Funds 30-Day Bonds Futures COT ChartThe Gold Comex Futures large speculator standing this week reached a net position of 185,539 contracts in the data reported through Tuesday. This was a weekly gain of 2,957 contracts from the previous week which had a total of 182,582 net contracts.

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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 53.7 percent. The commercials are Bearish with a score of 46.4 percent and the small traders (not shown in chart) are Bearish with a score of 33.2 percent.

Gold Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:61.622.99.0
– Percent of Open Interest Shorts:23.365.74.5
– Net Position:185,539-207,61422,075
– Gross Longs:298,503110,69743,819
– Gross Shorts:112,964318,31121,744
– Long to Short Ratio:2.6 to 10.3 to 12.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):53.746.433.2
– COT Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-8.58.6-4.9

 

Silver Comex Futures:

2-Year Treasury Bonds Futures COT ChartThe Silver Comex Futures large speculator standing this week reached a net position of 17,987 contracts in the data reported through Tuesday. This was a weekly lift of 1,608 contracts from the previous week which had a total of 16,379 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 40.3 percent. The commercials are Bullish with a score of 69.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.4 percent.

Silver Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:45.530.918.0
– Percent of Open Interest Shorts:32.652.69.2
– Net Position:17,987-30,29212,305
– Gross Longs:63,48843,05525,151
– Gross Shorts:45,50173,34712,846
– Long to Short Ratio:1.4 to 10.6 to 12.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):40.369.211.4
– COT Index Reading (3 Year Range):BearishBullishBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-4.37.5-20.1

 

Copper Grade #1 Futures:

5-Year Treasury Bonds Futures COT ChartThe Copper Grade #1 Futures large speculator standing this week reached a net position of 22,481 contracts in the data reported through Tuesday. This was a weekly increase of 8,064 contracts from the previous week which had a total of 14,417 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 58.6 percent. The commercials are Bearish with a score of 41.7 percent and the small traders (not shown in chart) are Bearish with a score of 44.9 percent.

Copper Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:43.038.48.0
– Percent of Open Interest Shorts:31.551.76.3
– Net Position:22,481-25,8673,386
– Gross Longs:83,81674,87815,582
– Gross Shorts:61,335100,74512,196
– Long to Short Ratio:1.4 to 10.7 to 11.3 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):58.641.744.9
– COT Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:0.40.8-10.4

 

Platinum Futures:

10-Year Treasury Notes Bonds Futures COT ChartThe Platinum Futures large speculator standing this week reached a net position of 10,919 contracts in the cot data reported through Tuesday. This was a weekly advance of 5,404 contracts from the previous week which had a total of 5,515 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 18.1 percent. The commercials are Bullish-Extreme with a score of 85.1 percent and the small traders (not shown in chart) are Bearish with a score of 43.4 percent.

Platinum Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:53.428.515.2
– Percent of Open Interest Shorts:35.056.85.4
– Net Position:10,919-16,7565,837
– Gross Longs:31,71116,9429,038
– Gross Shorts:20,79233,6983,201
– Long to Short Ratio:1.5 to 10.5 to 12.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):18.185.143.4
– COT Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:4.1-3.8-2.9

 

Palladium Futures:

Ultra 10-Year Treasury Notes Bonds Futures COT ChartThe Palladium Futures large speculator standing this week reached a net position of -2,496 contracts in the data reported through Tuesday. This was a weekly lift of 734 contracts from the previous week which had a total of -3,230 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 4.1 percent. The commercials are Bullish-Extreme with a score of 94.8 percent and the small traders (not shown in chart) are Bearish with a score of 37.0 percent.

Palladium Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:31.451.813.7
– Percent of Open Interest Shorts:58.323.615.1
– Net Position:-2,4962,625-129
– Gross Longs:2,9204,8151,272
– Gross Shorts:5,4162,1901,401
– Long to Short Ratio:0.5 to 12.2 to 10.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):4.194.837.0
– COT Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-12.713.4-13.0

 

Article By InvestMacro.com – Receive our weekly COT Reports by Email

*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).


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