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COT Soft Commodities Charts: Speculators push Corn bullish bets to 9-week high

October 30, 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 26th 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 Soft Commodity’s data is the speculator’s sharp increase in bullish bets for Corn. Corn bets jumped by over +30,000 contracts this week which marked the largest one-week gain in the past forty-three weeks. The rise brought the overall net position back above the +300,000 net contract level for the first time since August 31st. Overall, Corn speculative positions have remained in bullish territory for sixty-one weeks after turning from bearish to bullish back in August of 2020.

Data Snapshot of Commodity Market Traders | Columns Legend
Oct-26-2021 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 2,144,359 33 423,718 47 -472,412 41 48,694 84
Gold 509,794 28 214,560 62 -239,654 38 25,094 41
Silver 141,581 8 37,532 60 -51,504 48 13,972 21
Copper 222,927 43 37,279 69 -45,870 28 8,591 75
Palladium 10,205 17 -2,954 2 2,962 97 -8 44
Platinum 58,161 19 14,902 24 -21,280 79 6,378 51
Natural Gas 1,295,271 42 -138,188 37 96,361 61 41,827 85
Brent 200,768 40 -17,810 98 12,648 1 5,162 81
Heating Oil 423,143 63 25,791 80 -49,635 18 23,844 81
Soybeans 658,960 12 43,230 41 -10,177 63 -33,053 17
Corn 1,438,930 11 307,810 69 -252,059 36 -55,751 11
Coffee 307,195 64 67,593 98 -71,916 3 4,323 18
Sugar 874,742 21 198,607 77 -244,341 22 45,734 64
Wheat 405,625 33 763 48 8,753 49 -9,516 56

 

CORN Futures:

The CORN large speculator standing this week totaled a net position of 307,810 contracts in the data reported through Tuesday. This was a weekly rise of 30,781 contracts from the previous week which had a total of 277,029 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 69.4 percent. The commercials are Bearish with a score of 36.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.0 percent.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.1 48.5 9.2
– Percent of Open Interest Shorts: 6.7 66.1 13.1
– Net Position: 307,810 -252,059 -55,751
– Gross Longs: 404,890 698,417 132,371
– Gross Shorts: 97,080 950,476 188,122
– Long to Short Ratio: 4.2 to 1 0.7 to 1 0.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 69.4 36.0 11.0
– COT Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 6.3 -8.6 6.6

 

SUGAR Futures:

The SUGAR large speculator standing this week totaled a net position of 198,607 contracts in the data reported through Tuesday. This was a weekly fall of -12,943 contracts from the previous week which had a total of 211,550 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 77.4 percent. The commercials are Bearish with a score of 21.8 percent and the small traders (not shown in chart) are Bullish with a score of 64.4 percent.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.6 44.9 10.9
– Percent of Open Interest Shorts: 6.9 72.8 5.6
– Net Position: 198,607 -244,341 45,734
– Gross Longs: 258,776 392,733 94,957
– Gross Shorts: 60,169 637,074 49,223
– Long to Short Ratio: 4.3 to 1 0.6 to 1 1.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 77.4 21.8 64.4
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -12.4 10.9 3.6

 

COFFEE Futures:

The COFFEE large speculator standing this week totaled a net position of 67,593 contracts in the data reported through Tuesday. This was a weekly fall of -1,296 contracts from the previous week which had a total of 68,889 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-Extreme with a score of 97.7 percent. The commercials are Bearish-Extreme with a score of 3.5 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 18.2 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.6 40.9 3.6
– Percent of Open Interest Shorts: 5.6 64.3 2.2
– Net Position: 67,593 -71,916 4,323
– Gross Longs: 84,760 125,632 11,211
– Gross Shorts: 17,167 197,548 6,888
– Long to Short Ratio: 4.9 to 1 0.6 to 1 1.6 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 97.7 3.5 18.2
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 6.9 -7.5 0.3

 

SOYBEANS Futures:

The SOYBEANS large speculator standing this week totaled a net position of 43,230 contracts in the data reported through Tuesday. This was a weekly reduction of -311 contracts from the previous week which had a total of 43,541 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 41.1 percent. The commercials are Bullish with a score of 63.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 16.8 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 19.1 57.3 8.0
– Percent of Open Interest Shorts: 12.6 58.9 13.1
– Net Position: 43,230 -10,177 -33,053
– Gross Longs: 126,049 377,732 53,042
– Gross Shorts: 82,819 387,909 86,095
– Long to Short Ratio: 1.5 to 1 1.0 to 1 0.6 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 41.1 63.4 16.8
– COT Index Reading (3 Year Range): Bearish Bullish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -5.6 8.3 -21.4

 

SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week totaled a net position of 23,419 contracts in the data reported through Tuesday. This was a weekly boost of 14,305 contracts from the previous week which had a total of 9,114 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 42.5 percent. The commercials are Bullish with a score of 54.4 percent and the small traders (not shown in chart) are Bullish with a score of 71.2 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 20.4 47.7 12.6
– Percent of Open Interest Shorts: 15.1 58.7 6.9
– Net Position: 23,419 -48,521 25,102
– Gross Longs: 90,211 210,364 55,643
– Gross Shorts: 66,792 258,885 30,541
– Long to Short Ratio: 1.4 to 1 0.8 to 1 1.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 42.5 54.4 71.2
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 6.1 -10.7 34.5

 

LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week totaled a net position of 44,978 contracts in the data reported through Tuesday. This was a weekly fall of -3,513 contracts from the previous week which had a total of 48,491 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 19.2 percent. The commercials are Bullish with a score of 76.8 percent and the small traders (not shown in chart) are Bullish with a score of 69.9 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.6 41.7 10.4
– Percent of Open Interest Shorts: 16.8 54.9 12.9
– Net Position: 44,978 -37,895 -7,083
– Gross Longs: 93,043 119,063 29,714
– Gross Shorts: 48,065 156,958 36,797
– Long to Short Ratio: 1.9 to 1 0.8 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 19.2 76.8 69.9
– COT Index Reading (3 Year Range): Bearish-Extreme Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -5.5 5.1 5.0

 

LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week totaled a net position of 54,057 contracts in the data reported through Tuesday. This was a weekly decline of -11,125 contracts from the previous week which had a total of 65,182 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 66.9 percent. The commercials are Bearish with a score of 42.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 9.5 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 39.8 32.7 7.5
– Percent of Open Interest Shorts: 16.8 49.2 14.0
– Net Position: 54,057 -38,763 -15,294
– Gross Longs: 93,406 76,620 17,605
– Gross Shorts: 39,349 115,383 32,899
– Long to Short Ratio: 2.4 to 1 0.7 to 1 0.5 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 66.9 42.6 9.5
– COT Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -13.8 14.1 -0.6

 

COTTON Futures:

The COTTON large speculator standing this week totaled a net position of 102,069 contracts in the data reported through Tuesday. This was a weekly decline of -2,354 contracts from the previous week which had a total of 104,423 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-Extreme with a score of 87.7 percent. The commercials are Bearish-Extreme with a score of 10.7 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 94.1 percent.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 39.7 38.2 7.9
– Percent of Open Interest Shorts: 3.9 78.5 3.4
– Net Position: 102,069 -114,970 12,901
– Gross Longs: 113,246 108,979 22,564
– Gross Shorts: 11,177 223,949 9,663
– Long to Short Ratio: 10.1 to 1 0.5 to 1 2.3 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 87.7 10.7 94.1
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -3.9 2.4 12.9

 

COCOA Futures:

The COCOA large speculator standing this week totaled a net position of 19,198 contracts in the data reported through Tuesday. This was a weekly lowering of -3,623 contracts from the previous week which had a total of 22,821 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 40.8 percent. The commercials are Bullish with a score of 58.1 percent and the small traders (not shown in chart) are Bullish with a score of 54.6 percent.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.2 52.4 4.8
– Percent of Open Interest Shorts: 17.4 61.9 3.1
– Net Position: 19,198 -23,256 4,058
– Gross Longs: 61,920 128,637 11,662
– Gross Shorts: 42,722 151,893 7,604
– Long to Short Ratio: 1.4 to 1 0.8 to 1 1.5 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 40.8 58.1 54.6
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -8.1 6.9 12.7

 

WHEAT Futures:

The WHEAT large speculator standing this week totaled a net position of 763 contracts in the data reported through Tuesday. This was a weekly lift of 9,329 contracts from the previous week which had a total of -8,566 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 47.7 percent. The commercials are Bearish with a score of 49.4 percent and the small traders (not shown in chart) are Bullish with a score of 56.1 percent.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.2 38.8 7.8
– Percent of Open Interest Shorts: 25.0 36.6 10.2
– Net Position: 763 8,753 -9,516
– Gross Longs: 102,322 157,392 31,777
– Gross Shorts: 101,559 148,639 41,293
– Long to Short Ratio: 1.0 to 1 1.1 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 47.7 49.4 56.1
– COT Index Reading (3 Year Range): Bearish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -3.2 0.7 14.9

 

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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