06 Nov

COT Metals Charts: Palladium Speculator bets hit lowest on record

November 6, 2021

By InvestMacro | COT | Data Tables | COT Leaders | 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 November 2nd 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 speculator’s bearishness in Palladium. The Palladium speculative position continues to see weakness and has fallen for eight out of the past twelve weeks. The overall position has now been in bearish territory for eleven straight weeks after dropping from bullish to bearish on August 24th. Palladium net spec positions are usually always in bullish territory with very few instances of net bearish levels in the data history. The current net position at -3,391 contracts marks the most bearish speculator level for Palladium on record, according to the CFTC data which goes back to 1986.

Data Snapshot of Commodity Market Traders | Columns Legend
Nov-02-2021OIOI-IndexSpec-NetSpec-IndexCom-NetCOM-IndexSmalls-NetSmalls-Index
WTI Crude2,121,46129419,29346-461,5164442,22375
Gold507,61627215,12962-239,8773824,74840
Silver141,394833,11555-48,8605115,74532
Copper217,2163932,33566-41,294318,95977
Palladium10,92620-3,39103,574100-18334
Platinum56,5081615,36425-21,964786,60054
Natural Gas1,267,22735-137,7133793,5176044,19691
Brent183,76627-12,7141007,68805,02679
Heating Oil426,6366622,38475-45,8442223,46080
Soybeans620,172358,75645-19,88561-38,8717
Corn1,506,60222383,10979-320,38526-62,7247
Coffee310,9316664,35395-69,26464,91122
Sugar884,50721209,06180-250,8492141,78860
Wheat409,1373917,89662-11,14130-6,75569

 

Gold Comex Futures:

Federal Funds 30-Day Bonds Futures COT ChartThe Gold Comex Futures large speculator standing this week resulted in a net position of 215,129 contracts in the data reported through Tuesday. This was a weekly gain of 569 contracts from the previous week which had a total of 214,560 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 61.8 percent. The commercials are Bearish with a score of 38.0 percent and the small traders (not shown in chart) are Bearish with a score of 40.2 percent.

Gold Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:61.319.89.0
– Percent of Open Interest Shorts:18.967.14.2
– Net Position:215,129-239,87724,748
– Gross Longs:311,091100,69245,936
– Gross Shorts:95,962340,56921,188
– Long to Short Ratio:3.2 to 10.3 to 12.2 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):61.838.040.2
– COT Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:7.6-7.1-0.6

 

Silver Comex Futures:

2-Year Treasury Bonds Futures COT ChartThe Silver Comex Futures large speculator standing this week resulted in a net position of 33,115 contracts in the data reported through Tuesday. This was a weekly lowering of -4,417 contracts from the previous week which had a total of 37,532 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 55.4 percent. The commercials are Bullish with a score of 51.0 percent and the small traders (not shown in chart) are Bearish with a score of 32.1 percent.

Silver Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:45.629.319.2
– Percent of Open Interest Shorts:22.263.98.0
– Net Position:33,115-48,86015,745
– Gross Longs:64,50241,47327,091
– Gross Shorts:31,38790,33311,346
– Long to Short Ratio:2.1 to 10.5 to 12.4 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):55.451.032.1
– COT Index Reading (3 Year Range):BullishBullishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:17.4-20.420.1

 

Copper Grade #1 Futures:

5-Year Treasury Bonds Futures COT ChartThe Copper Grade #1 Futures large speculator standing this week resulted in a net position of 32,335 contracts in the data reported through Tuesday. This was a weekly decrease of -4,944 contracts from the previous week which had a total of 37,279 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 65.7 percent. The commercials are Bearish with a score of 31.1 percent and the small traders (not shown in chart) are Bullish with a score of 77.1 percent.

Copper Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:40.837.59.2
– Percent of Open Interest Shorts:25.956.55.0
– Net Position:32,335-41,2948,959
– Gross Longs:88,63281,45719,927
– Gross Shorts:56,297122,75110,968
– Long to Short Ratio:1.6 to 10.7 to 11.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):65.731.177.1
– COT Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:9.4-11.621.7

 

Platinum Futures:

10-Year Treasury Notes Bonds Futures COT ChartThe Platinum Futures large speculator standing this week resulted in a net position of 15,364 contracts in the data reported through Tuesday. This was a weekly rise of 462 contracts from the previous week which had a total of 14,902 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 24.5 percent. The commercials are Bullish with a score of 77.6 percent and the small traders (not shown in chart) are Bullish with a score of 54.1 percent.

Platinum Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:51.128.916.3
– Percent of Open Interest Shorts:23.967.74.6
– Net Position:15,364-21,9646,600
– Gross Longs:28,87016,3149,196
– Gross Shorts:13,50638,2782,596
– Long to Short Ratio:2.1 to 10.4 to 13.5 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):24.577.654.1
– COT Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:20.4-21.411.5

 

Palladium Futures:

Ultra 10-Year Treasury Notes Bonds Futures COT ChartThe Palladium Futures large speculator standing this week resulted in a net position of -3,391 contracts in the data reported through Tuesday. This was a weekly decrease of -437 contracts from the previous week which had a total of -2,954 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 0.0 percent. The commercials are Bullish-Extreme with a score of 99.8 percent and the small traders (not shown in chart) are Bearish with a score of 33.9 percent.

Palladium Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:22.754.711.8
– Percent of Open Interest Shorts:53.822.013.5
– Net Position:-3,3913,574-183
– Gross Longs:2,4825,9781,287
– Gross Shorts:5,8732,4041,470
– Long to Short Ratio:0.4 to 12.5 to 10.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):0.099.833.9
– COT Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-3.72.88.7

 

Article By InvestMacro – 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) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.


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