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COT Soft Commodities Charts: Corn Speculator bets jump by most in a year

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 Soft Commodity data is once again the rise in speculator positioning for Corn. The speculator bets for Corn jumped by over +75,000 contracts this week following a gain of over +30,000 contracts last week. This marked the largest one-week increase in net positions in a year (November 3rd 2020). Corn is now at the most bullish net speculator level of the past nineteen weeks, dating back to June 22nd.

Data Snapshot of Commodity Market Traders | Columns Legend
Nov-02-2021 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 2,121,461 29 419,293 46 -461,516 44 42,223 75
Gold 507,616 27 215,129 62 -239,877 38 24,748 40
Silver 141,394 8 33,115 55 -48,860 51 15,745 32
Copper 217,216 39 32,335 66 -41,294 31 8,959 77
Palladium 10,926 20 -3,391 0 3,574 100 -183 34
Platinum 56,508 16 15,364 25 -21,964 78 6,600 54
Natural Gas 1,267,227 35 -137,713 37 93,517 60 44,196 91
Brent 183,766 27 -12,714 100 7,688 0 5,026 79
Heating Oil 426,636 66 22,384 75 -45,844 22 23,460 80
Soybeans 620,172 3 58,756 45 -19,885 61 -38,871 7
Corn 1,506,602 22 383,109 79 -320,385 26 -62,724 7
Coffee 310,931 66 64,353 95 -69,264 6 4,911 22
Sugar 884,507 21 209,061 80 -250,849 21 41,788 60
Wheat 409,137 39 17,896 62 -11,141 30 -6,755 69

 

CORN Futures:

The CORN large speculator standing this week resulted in a net position of 383,109 contracts in the data reported through Tuesday. This was a weekly increase of 75,299 contracts from the previous week which had a total of 307,810 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 79.0 percent. The commercials are Bearish with a score of 26.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 7.0 percent.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.0 45.2 8.7
– Percent of Open Interest Shorts: 6.6 66.5 12.9
– Net Position: 383,109 -320,385 -62,724
– Gross Longs: 482,734 681,554 131,645
– Gross Shorts: 99,625 1,001,939 194,369
– Long to Short Ratio: 4.8 to 1 0.7 to 1 0.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 79.0 26.3 7.0
– COT Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 15.0 -17.3 2.2

 

SUGAR Futures:

The SUGAR large speculator standing this week resulted in a net position of 209,061 contracts in the data reported through Tuesday. This was a weekly gain of 10,454 contracts from the previous week which had a total of 198,607 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 79.6 percent. The commercials are Bearish with a score of 20.6 percent and the small traders (not shown in chart) are Bullish with a score of 59.5 percent.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.3 44.4 10.4
– Percent of Open Interest Shorts: 6.7 72.8 5.7
– Net Position: 209,061 -250,849 41,788
– Gross Longs: 268,307 392,717 92,164
– Gross Shorts: 59,246 643,566 50,376
– Long to Short Ratio: 4.5 to 1 0.6 to 1 1.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 79.6 20.6 59.5
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -8.3 7.5 1.1

 

COFFEE Futures:

The COFFEE large speculator standing this week resulted in a net position of 64,353 contracts in the data reported through Tuesday. This was a weekly lowering of -3,240 contracts from the previous week which had a total of 67,593 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 95.3 percent. The commercials are Bearish-Extreme with a score of 5.5 percent and the small traders (not shown in chart) are Bearish with a score of 22.3 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.8 41.6 3.8
– Percent of Open Interest Shorts: 6.2 63.9 2.2
– Net Position: 64,353 -69,264 4,911
– Gross Longs: 83,481 129,468 11,776
– Gross Shorts: 19,128 198,732 6,865
– Long to Short Ratio: 4.4 to 1 0.7 to 1 1.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 95.3 5.5 22.3
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 3.1 -4.3 8.2

 

SOYBEANS Futures:

The SOYBEANS large speculator standing this week resulted in a net position of 58,756 contracts in the data reported through Tuesday. This was a weekly advance of 15,526 contracts from the previous week which had a total of 43,230 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 with a score of 44.9 percent. The commercials are Bullish with a score of 61.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 7.2 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 21.9 57.7 7.0
– Percent of Open Interest Shorts: 12.4 60.9 13.3
– Net Position: 58,756 -19,885 -38,871
– Gross Longs: 135,938 357,948 43,540
– Gross Shorts: 77,182 377,833 82,411
– Long to Short Ratio: 1.8 to 1 0.9 to 1 0.5 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 44.9 61.1 7.2
– COT Index Reading (3 Year Range): Bearish Bullish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -0.6 4.6 -28.6

 

SOYBEAN OIL Futures:

The SOYBEAN OIL large speculator standing this week resulted in a net position of 91,131 contracts in the data reported through Tuesday. This was a weekly increase of 405 contracts from the previous week which had a total of 90,726 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 73.0 percent. The commercials are Bearish with a score of 28.0 percent and the small traders (not shown in chart) are Bullish with a score of 59.9 percent.

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.7 47.1 8.0
– Percent of Open Interest Shorts: 7.3 71.4 5.1
– Net Position: 91,131 -103,585 12,454
– Gross Longs: 122,221 200,754 34,050
– Gross Shorts: 31,090 304,339 21,596
– Long to Short Ratio: 3.9 to 1 0.7 to 1 1.6 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 73.0 28.0 59.9
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 27.3 -30.5 38.5

 

SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week resulted in a net position of 30,771 contracts in the data reported through Tuesday. This was a weekly boost of 7,352 contracts from the previous week which had a total of 23,419 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 46.8 percent. The commercials are Bullish with a score of 50.7 percent and the small traders (not shown in chart) are Bullish with a score of 68.1 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 21.5 46.4 12.3
– Percent of Open Interest Shorts: 14.6 58.7 6.9
– Net Position: 30,771 -55,091 24,320
– Gross Longs: 96,255 207,316 55,086
– Gross Shorts: 65,484 262,407 30,766
– Long to Short Ratio: 1.5 to 1 0.8 to 1 1.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 46.8 50.7 68.1
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 9.9 -12.8 23.1

 

LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week resulted in a net position of 41,894 contracts in the data reported through Tuesday. This was a weekly fall of -3,084 contracts from the previous week which had a total of 44,978 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 17.1 percent. The commercials are Bullish with a score of 77.7 percent and the small traders (not shown in chart) are Bullish with a score of 74.5 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.4 40.0 10.1
– Percent of Open Interest Shorts: 17.3 52.3 11.8
– Net Position: 41,894 -36,717 -5,177
– Gross Longs: 93,191 118,526 29,946
– Gross Shorts: 51,297 155,243 35,123
– Long to Short Ratio: 1.8 to 1 0.8 to 1 0.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 17.1 77.7 74.5
– COT Index Reading (3 Year Range): Bearish-Extreme Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.8 0.2 6.0

 

LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week resulted in a net position of 45,965 contracts in the data reported through Tuesday. This was a weekly fall of -8,092 contracts from the previous week which had a total of 54,057 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 58.4 percent. The commercials are Bullish with a score of 50.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 14.5 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 37.7 33.7 7.9
– Percent of Open Interest Shorts: 18.0 47.3 14.0
– Net Position: 45,965 -31,775 -14,190
– Gross Longs: 87,929 78,627 18,449
– Gross Shorts: 41,964 110,402 32,639
– Long to Short Ratio: 2.1 to 1 0.7 to 1 0.6 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 58.4 50.0 14.5
– COT Index Reading (3 Year Range): Bullish Bullish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -15.1 15.7 -2.2

 

COTTON Futures:

The COTTON large speculator standing this week resulted in a net position of 103,553 contracts in the data reported through Tuesday. This was a weekly boost of 1,484 contracts from the previous week which had a total of 102,069 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 88.7 percent. The commercials are Bearish-Extreme with a score of 9.7 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 96.3 percent.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 40.3 37.1 7.7
– Percent of Open Interest Shorts: 3.9 78.1 3.1
– Net Position: 103,553 -116,804 13,251
– Gross Longs: 114,770 105,723 22,064
– Gross Shorts: 11,217 222,527 8,813
– Long to Short Ratio: 10.2 to 1 0.5 to 1 2.5 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 88.7 9.7 96.3
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 5.4 -9.2 44.3

 

COCOA Futures:

The COCOA large speculator standing this week resulted in a net position of 16,074 contracts in the data reported through Tuesday. This was a weekly fall of -3,124 contracts from the previous week which had a total of 19,198 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 38.0 percent. The commercials are Bullish with a score of 60.9 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: 24.4 52.8 4.7
– Percent of Open Interest Shorts: 18.0 60.7 3.1
– Net Position: 16,074 -20,130 4,056
– Gross Longs: 61,609 133,483 11,792
– Gross Shorts: 45,535 153,613 7,736
– Long to Short Ratio: 1.4 to 1 0.9 to 1 1.5 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 38.0 60.9 54.6
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -8.5 6.7 21.3

 

WHEAT Futures:

The WHEAT large speculator standing this week resulted in a net position of 17,896 contracts in the data reported through Tuesday. This was a weekly lift of 17,133 contracts from the previous week which had a total of 763 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 62.3 percent. The commercials are Bearish with a score of 30.0 percent and the small traders (not shown in chart) are Bullish with a score of 69.3 percent.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.8 34.7 8.9
– Percent of Open Interest Shorts: 22.5 37.4 10.5
– Net Position: 17,896 -11,141 -6,755
– Gross Longs: 109,768 141,984 36,283
– Gross Shorts: 91,872 153,125 43,038
– Long to Short Ratio: 1.2 to 1 0.9 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 62.3 30.0 69.3
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 13.7 -20.2 22.6

 

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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