COT Soft Commodities: Cotton Speculators push bullish bets to highest level since 2018

October 1, 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 September 28th 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 speculator positioning is a new 3-year high net bullish position in Cotton. Speculators have added to their Cotton bullish bets to highest level since June 12th of 2018 when specs had a total bullish net position of +122,946 contracts. The strength index score for Cotton is also at a 100 percent score, indicating the highest level of bullish spec interest over the past three-year range.


COTTON Futures:

The COTTON large speculator standing this week recorded a net position of 116,132 contracts in the data reported through Tuesday. This was a weekly boost of 21,107 contracts from the previous week which had a total of 95,025 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 100.0 percent. The commercials are Bearish-Extreme with a score of 0.0 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 81.8 percent.


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COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 45.3 33.8 7.2
– Percent of Open Interest Shorts: 4.4 78.6 3.4
– Net Position: 116,132 -127,066 10,934
– Gross Longs: 128,487 95,758 20,525
– Gross Shorts: 12,355 222,824 9,591
– Long to Short Ratio: 10.4 to 1 0.4 to 1 2.1 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 100.0 0.0 81.8
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 8.6 -6.2 -18.2

 


CORN Futures:

The CORN large speculator standing this week recorded a net position of 278,546 contracts in the data reported through Tuesday. This was a weekly rise of 13,045 contracts from the previous week which had a total of 265,501 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 65.6 percent. The commercials are Bearish with a score of 41.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 6.5 percent.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.7 49.4 8.6
– Percent of Open Interest Shorts: 7.7 64.9 13.2
– Net Position: 278,546 -215,090 -63,456
– Gross Longs: 386,177 688,955 120,051
– Gross Shorts: 107,631 904,045 183,507
– Long to Short Ratio: 3.6 to 1 0.8 to 1 0.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 65.6 41.3 6.5
– COT Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -8.6 8.0 6.5

 


SUGAR Futures:

The SUGAR large speculator standing this week recorded a net position of 248,915 contracts in the data reported through Tuesday. This was a weekly decrease of -552 contracts from the previous week which had a total of 249,467 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 87.8 percent. The commercials are Bearish-Extreme with a score of 12.9 percent and the small traders (not shown in chart) are Bullish with a score of 60.8 percent.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 33.4 43.0 9.5
– Percent of Open Interest Shorts: 5.4 75.8 4.7
– Net Position: 248,915 -291,724 42,809
– Gross Longs: 297,099 382,907 84,947
– Gross Shorts: 48,184 674,631 42,138
– Long to Short Ratio: 6.2 to 1 0.6 to 1 2.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 87.8 12.9 60.8
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -11.0 12.4 -15.2

 


COFFEE Futures:

The COFFEE large speculator standing this week recorded a net position of 65,575 contracts in the data reported through Tuesday. This was a weekly advance of 5,457 contracts from the previous week which had a total of 60,118 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 96.2 percent. The commercials are Bearish-Extreme with a score of 4.3 percent and the small traders (not shown in chart) are Bearish with a score of 23.5 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.0 41.8 3.9
– Percent of Open Interest Shorts: 5.7 65.9 2.2
– Net Position: 65,575 -70,663 5,088
– Gross Longs: 82,278 123,137 11,533
– Gross Shorts: 16,703 193,800 6,445
– Long to Short Ratio: 4.9 to 1 0.6 to 1 1.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 96.2 4.3 23.5
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 7.8 -8.3 1.7

 


SOYBEANS Futures:

The SOYBEANS large speculator standing this week recorded a net position of 64,720 contracts in the data reported through Tuesday. This was a weekly lift of 3,666 contracts from the previous week which had a total of 61,054 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 46.4 percent. The commercials are Bullish with a score of 55.8 percent and the small traders (not shown in chart) are Bearish with a score of 35.0 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 20.6 56.9 7.1
– Percent of Open Interest Shorts: 11.1 63.1 10.4
– Net Position: 64,720 -42,564 -22,156
– Gross Longs: 141,105 390,372 49,015
– Gross Shorts: 76,385 432,936 71,171
– Long to Short Ratio: 1.8 to 1 0.9 to 1 0.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 46.4 55.8 35.0
– COT Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -12.7 13.7 -10.5

 


SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week recorded a net position of 13,799 contracts in the data reported through Tuesday. This was a weekly reduction of -11 contracts from the previous week which had a total of 13,810 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 36.9 percent. The commercials are Bullish with a score of 64.6 percent and the small traders (not shown in chart) are Bearish with a score of 36.7 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 21.5 49.1 12.2
– Percent of Open Interest Shorts: 17.7 57.4 7.6
– Net Position: 13,799 -30,286 16,487
– Gross Longs: 77,998 177,632 44,078
– Gross Shorts: 64,199 207,918 27,591
– Long to Short Ratio: 1.2 to 1 0.9 to 1 1.6 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 36.9 64.6 36.7
– COT Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -24.1 26.8 -25.5

 


LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week recorded a net position of 40,163 contracts in the data reported through Tuesday. This was a weekly decline of -4,393 contracts from the previous week which had a total of 44,556 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 16.0 percent. The commercials are Bullish-Extreme with a score of 80.2 percent and the small traders (not shown in chart) are Bullish with a score of 71.5 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.7 43.5 10.6
– Percent of Open Interest Shorts: 17.9 55.1 12.8
– Net Position: 40,163 -33,747 -6,416
– Gross Longs: 92,493 127,134 31,023
– Gross Shorts: 52,330 160,881 37,439
– Long to Short Ratio: 1.8 to 1 0.8 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 16.0 80.2 71.5
– COT Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -25.3 24.6 19.3

 


LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week recorded a net position of 64,023 contracts in the data reported through Tuesday. This was a weekly increase of 3,660 contracts from the previous week which had a total of 60,363 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 30.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 14.0 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 42.4 32.1 7.8
– Percent of Open Interest Shorts: 15.6 53.2 13.4
– Net Position: 64,023 -50,557 -13,466
– Gross Longs: 101,460 76,873 18,690
– Gross Shorts: 37,437 127,430 32,156
– Long to Short Ratio: 2.7 to 1 0.6 to 1 0.6 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 77.4 30.2 14.0
– COT Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -10.2 9.5 3.2

 


COCOA Futures:

The COCOA large speculator standing this week recorded a net position of 24,276 contracts in the data reported through Tuesday. This was a weekly decline of -1,163 contracts from the previous week which had a total of 25,439 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 45.5 percent. The commercials are Bullish with a score of 55.5 percent and the small traders (not shown in chart) are Bearish with a score of 30.3 percent.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.4 53.6 4.2
– Percent of Open Interest Shorts: 17.9 64.9 3.4
– Net Position: 24,276 -26,194 1,918
– Gross Longs: 65,973 124,722 9,712
– Gross Shorts: 41,697 150,916 7,794
– Long to Short Ratio: 1.6 to 1 0.8 to 1 1.2 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 45.5 55.5 30.3
– COT Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -10.0 10.4 -8.0

 


WHEAT Futures:

The WHEAT large speculator standing this week recorded a net position of -3,645 contracts in the data reported through Tuesday. This was a weekly decrease of -5,487 contracts from the previous week which had a total of 1,842 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 43.9 percent. The commercials are Bullish with a score of 52.0 percent and the small traders (not shown in chart) are Bullish with a score of 64.1 percent.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 23.7 44.1 8.4
– Percent of Open Interest Shorts: 24.7 40.9 10.6
– Net Position: -3,645 11,488 -7,843
– Gross Longs: 84,860 158,150 30,206
– Gross Shorts: 88,505 146,662 38,049
– 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): 43.9 52.0 64.1
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -43.0 46.3 13.7

 


Article By InvestMacro.comReceive 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. Open interest indicates the number of currently open (at time of data collection) contracts still in the 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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