COT Speculators boost Corn bullish bets to best level of past 22-weeks

November 20, 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 16th 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Highlighting the COT Soft Commodities data this week is the gains almost across the board in these markets. This week’s positive data changes in nominal speculator contracts saw soft commodities take five out of the top seven places of all the markets we track. Soybean Meal speculators added 28,354 contracts to their standings this week while Corn specs added 23,888 contracts, Soybeans bets rose by 19,333 contracts, Wheat wagers increased by 17,558 contracts and Sugar tacked on 15,358 contracts to its overall net position.

Corn positions, in particular, are seeing rising bullish sentiment and have jumped by a total of 122,157 contracts over just the past four weeks. The Corn speculative net positions is now at its highest level of the past twenty-two weeks, dating back to June 15th.


Data Snapshot of Commodity Market Traders | Columns Legend
Nov-16-2021 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 2,057,633 18 415,785 44 -470,324 41 54,539 92
Gold 612,612 54 259,780 73 -287,539 27 27,759 48
Silver 152,404 18 45,625 68 -66,148 34 20,523 61
Copper 208,066 32 20,337 57 -30,805 38 10,468 86
Palladium 11,840 24 -2,038 7 1,976 91 62 48
Platinum 62,284 26 21,013 33 -28,225 69 7,212 63
Natural Gas 1,308,708 45 -144,620 35 98,415 62 46,205 96
Brent 199,930 39 -12,900 98 7,412 0 5,488 94
Heating Oil 380,887 26 17,029 67 -37,010 32 19,981 68
Soybeans 662,972 13 46,917 42 -4,927 65 -41,990 2
Corn 1,598,926 38 399,186 81 -340,672 23 -58,514 9
Coffee 286,343 48 66,081 97 -70,075 5 3,994 16
Sugar 906,385 21 227,389 83 -276,185 16 48,796 68
Wheat 427,786 49 36,761 78 -27,999 14 -8,762 60

 


CORN Futures:

Federal Funds 30-Day Bonds Futures COT ChartThe CORN large speculator standing this week reached a net position of 399,186 contracts in the data reported through Tuesday. This was a weekly increase of 23,888 contracts from the previous week which had a total of 375,298 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-Extreme with a score of 81.0 percent. The commercials are Bearish with a score of 23.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 9.4 percent.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.6 45.3 8.5
– Percent of Open Interest Shorts: 6.6 66.6 12.1
– Net Position: 399,186 -340,672 -58,514
– Gross Longs: 504,851 724,785 135,589
– Gross Shorts: 105,665 1,065,457 194,103
– 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): 81.0 23.4 9.4
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 13.1 -14.7 0.5

 


SUGAR Futures:

2-Year Treasury Bonds Futures COT ChartThe SUGAR large speculator standing this week reached a net position of 227,389 contracts in the data reported through Tuesday. This was a weekly lift of 15,358 contracts from the previous week which had a total of 212,031 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 83.3 percent. The commercials are Bearish-Extreme with a score of 15.8 percent and the small traders (not shown in chart) are Bullish with a score of 68.2 percent.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.8 42.8 10.7
– Percent of Open Interest Shorts: 5.7 73.3 5.3
– Net Position: 227,389 -276,185 48,796
– Gross Longs: 278,893 388,334 96,952
– Gross Shorts: 51,504 664,519 48,156
– Long to Short Ratio: 5.4 to 1 0.6 to 1 2.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 83.3 15.8 68.2
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -4.1 3.2 3.8

 


COFFEE Futures:

5-Year Treasury Bonds Futures COT ChartThe COFFEE large speculator standing this week reached a net position of 66,081 contracts in the data reported through Tuesday. This was a weekly increase of 5,261 contracts from the previous week which had a total of 60,820 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 96.6 percent. The commercials are Bearish-Extreme with a score of 4.9 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 16.0 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.8 42.8 3.9
– Percent of Open Interest Shorts: 4.7 67.3 2.6
– Net Position: 66,081 -70,075 3,994
– Gross Longs: 79,550 122,594 11,308
– Gross Shorts: 13,469 192,669 7,314
– Long to Short Ratio: 5.9 to 1 0.6 to 1 1.5 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 96.6 4.9 16.0
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -0.4 0.7 -3.2

 


SOYBEANS Futures:

10-Year Treasury Notes Bonds Futures COT ChartThe SOYBEANS large speculator standing this week reached a net position of 46,917 contracts in the data reported through Tuesday. This was a weekly boost of 19,333 contracts from the previous week which had a total of 27,584 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 42.0 percent. The commercials are Bullish with a score of 64.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 2.0 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 20.0 59.0 6.9
– Percent of Open Interest Shorts: 12.9 59.8 13.3
– Net Position: 46,917 -4,927 -41,990
– Gross Longs: 132,364 391,217 45,975
– Gross Shorts: 85,447 396,144 87,965
– Long to Short Ratio: 1.5 to 1 1.0 to 1 0.5 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 42.0 64.7 2.0
– COT Index Reading (3 Year Range): Bearish Bullish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.1 4.2 -21.9

 


SOYBEAN MEAL Futures:

US Year Treasury Notes Long Bonds Futures COT ChartThe SOYBEAN MEAL large speculator standing this week reached a net position of 73,989 contracts in the data reported through Tuesday. This was a weekly boost of 28,354 contracts from the previous week which had a total of 45,635 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 72.1 percent. The commercials are Bearish with a score of 25.4 percent and the small traders (not shown in chart) are Bullish with a score of 74.3 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 22.6 44.2 11.9
– Percent of Open Interest Shorts: 6.5 66.0 6.3
– Net Position: 73,989 -99,866 25,877
– Gross Longs: 103,903 203,239 54,734
– Gross Shorts: 29,914 303,105 28,857
– Long to Short Ratio: 3.5 to 1 0.7 to 1 1.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 72.1 25.4 74.3
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 41.8 -43.8 24.8

 


LIVE CATTLE Futures:

Ultra US Year Treasury Notes Long Bonds Futures COT ChartThe LIVE CATTLE large speculator standing this week reached a net position of 52,226 contracts in the data reported through Tuesday. This was a weekly lift of 3,023 contracts from the previous week which had a total of 49,203 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 24.1 percent. The commercials are Bullish with a score of 72.5 percent and the small traders (not shown in chart) are Bullish with a score of 64.7 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 34.1 39.4 9.9
– Percent of Open Interest Shorts: 16.7 53.7 13.0
– Net Position: 52,226 -43,034 -9,192
– Gross Longs: 102,550 118,410 29,742
– Gross Shorts: 50,324 161,444 38,934
– Long to Short Ratio: 2.0 to 1 0.7 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 24.1 72.5 64.7
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 12.4 -11.8 -9.9

 


LEAN HOGS Futures:

Eurodollar Bonds Futures COT ChartThe LEAN HOGS large speculator standing this week reached a net position of 46,764 contracts in the data reported through Tuesday. This was a weekly lift of 1,827 contracts from the previous week which had a total of 44,937 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 59.3 percent. The commercials are Bullish with a score of 50.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 10.2 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 39.1 34.9 7.8
– Percent of Open Interest Shorts: 18.4 48.8 14.4
– Net Position: 46,764 -31,629 -15,135
– Gross Longs: 88,455 78,855 17,531
– Gross Shorts: 41,691 110,484 32,666
– Long to Short Ratio: 2.1 to 1 0.7 to 1 0.5 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 59.3 50.2 10.2
– COT Index Reading (3 Year Range): Bullish Bullish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -28.0 27.0 5.2

 


COTTON Futures:

Ultra 10-Year Treasury Notes Bonds Futures COT ChartThe COTTON large speculator standing this week reached a net position of 108,441 contracts in the data reported through Tuesday. This was a weekly boost of 4,928 contracts from the previous week which had a total of 103,513 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 91.8 percent. The commercials are Bearish-Extreme with a score of 7.2 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 91.6 percent.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 44.8 35.3 8.1
– Percent of Open Interest Shorts: 4.1 80.6 3.4
– Net Position: 108,441 -120,945 12,504
– Gross Longs: 119,403 94,055 21,485
– Gross Shorts: 10,962 215,000 8,981
– Long to Short Ratio: 10.9 to 1 0.4 to 1 2.4 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 91.8 7.2 91.6
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -8.2 7.2 3.2

 


COCOA Futures:

US Year Treasury Notes Long Bonds Futures COT ChartThe COCOA large speculator standing this week reached a net position of 4,521 contracts in the data reported through Tuesday. This was a weekly rise of 9,142 contracts from the previous week which had a total of -4,621 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 27.4 percent. The commercials are Bullish with a score of 72.6 percent and the small traders (not shown in chart) are Bearish with a score of 37.3 percent.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.9 53.3 4.7
– Percent of Open Interest Shorts: 25.0 56.3 3.6
– Net Position: 4,521 -7,053 2,532
– Gross Longs: 63,037 124,699 10,926
– Gross Shorts: 58,516 131,752 8,394
– Long to Short Ratio: 1.1 to 1 0.9 to 1 1.3 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 27.4 72.6 37.3
– COT Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -36.0 36.9 -20.2

 


WHEAT Futures:

Ultra US Year Treasury Notes Long Bonds Futures COT ChartThe WHEAT large speculator standing this week reached a net position of 36,761 contracts in the data reported through Tuesday. This was a weekly advance of 17,558 contracts from the previous week which had a total of 19,203 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 78.3 percent. The commercials are Bearish-Extreme with a score of 13.6 percent and the small traders (not shown in chart) are Bullish with a score of 59.7 percent.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.9 35.1 8.0
– Percent of Open Interest Shorts: 22.3 41.6 10.1
– Net Position: 36,761 -27,999 -8,762
– Gross Longs: 132,167 150,055 34,249
– Gross Shorts: 95,406 178,054 43,011
– Long to Short Ratio: 1.4 to 1 0.8 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 78.3 13.6 59.7
– COT Index Reading (3 Year Range): Bullish Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 25.1 -30.9 10.7

 


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*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.