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 January 4th 2022 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.
Highlighting the COT energy data is the improvement in the Brent Crude Oil futures bets. The speculative net position in the Brent (Last Day contract) futures have seen lower bearish bets for two straight weeks and this week’s +9,461 speculative net contracts rise marked the largest one-week improvement since October 26th. The overall speculator standing in Brent oil have been in a continuous bearish standing since December of 2013 due to the particular positioning dynamics of the market but have now fallen to the least bearish level since October 23rd of 2018, a span of 167 weeks. This has pushed the speculator strength score to 100 percent (compared to the past three year’s range).
Joining Brent Crude Oil (9,461 contracts) in gaining this week were Natural Gas (4,310 contracts), Heating Oil (3,861 contracts) and Gasoline (7,072 contracts).
The markets with falling speculator bets were WTI Crude Oil (-5,604 contracts) and the Bloomberg Commodity Index (-6,522 contracts).
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| Jan-04-2022 | OI | OI-Index | Spec-Net | Spec-Index | Com-Net | COM-Index | Smalls-Net | Smalls-Index |
|---|---|---|---|---|---|---|---|---|
| WTI Crude | 1,887,131 | 3 | 332,825 | 15 | -369,956 | 77 | 37,131 | 67 |
| Gold | 502,717 | 20 | 211,355 | 55 | -237,458 | 45 | 26,103 | 38 |
| Silver | 139,521 | 6 | 30,919 | 53 | -43,973 | 56 | 13,054 | 16 |
| Copper | 185,905 | 16 | 19,759 | 57 | -24,845 | 42 | 5,086 | 55 |
| Palladium | 9,480 | 13 | -3,192 | 3 | 3,344 | 96 | -152 | 36 |
| Platinum | 58,275 | 19 | 6,762 | 12 | -12,185 | 92 | 5,423 | 38 |
| Natural Gas | 1,117,606 | 2 | -141,907 | 36 | 110,122 | 66 | 31,785 | 59 |
| Brent | 203,528 | 42 | -11,255 | 100 | 6,990 | 0 | 4,265 | 67 |
| Heating Oil | 320,686 | 14 | 7,492 | 53 | -29,819 | 40 | 22,327 | 76 |
| Soybeans | 648,148 | 10 | 130,556 | 63 | -91,893 | 44 | -38,663 | 8 |
| Corn | 1,520,233 | 24 | 445,481 | 87 | -382,800 | 17 | -62,681 | 7 |
| Coffee | 262,231 | 31 | 54,565 | 88 | -57,751 | 15 | 3,186 | 10 |
| Sugar | 873,918 | 11 | 172,987 | 72 | -192,794 | 32 | 19,807 | 32 |
| Wheat | 359,139 | 12 | 4,080 | 50 | 6,236 | 47 | -10,316 | 52 |
WTI Crude Oil Futures:
The WTI Crude Oil Futures large speculator standing this week came in at a net position of 332,825 contracts in the data reported through Tuesday. This was a weekly fall of -5,604 contracts from the previous week which had a total of 338,429 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 14.8 percent. The commercials are Bullish with a score of 77.1 percent and the small traders (not shown in chart) are Bullish with a score of 67.3 percent.
| WTI Crude Oil Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 24.5 | 38.1 | 4.7 |
| – Percent of Open Interest Shorts: | 6.9 | 57.7 | 2.7 |
| – Net Position: | 332,825 | -369,956 | 37,131 |
| – Gross Longs: | 462,594 | 718,728 | 87,930 |
| – Gross Shorts: | 129,769 | 1,088,684 | 50,799 |
| – Long to Short Ratio: | 3.6 to 1 | 0.7 to 1 | 1.7 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 14.8 | 77.1 | 67.3 |
| – Strength Index Reading (3 Year Range): | Bearish-Extreme | Bullish | Bullish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -24.8 | 27.5 | -14.4 |
Brent Crude Oil Futures:
The Brent Crude Oil Futures large speculator standing this week came in at a net position of -11,255 contracts in the data reported through Tuesday. This was a weekly boost of 9,461 contracts from the previous week which had a total of -20,716 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 with a score of 67.0 percent.
| Brent Crude Oil Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 21.9 | 42.6 | 3.9 |
| – Percent of Open Interest Shorts: | 27.4 | 39.1 | 1.8 |
| – Net Position: | -11,255 | 6,990 | 4,265 |
| – Gross Longs: | 44,535 | 86,665 | 7,855 |
| – Gross Shorts: | 55,790 | 79,675 | 3,590 |
| – Long to Short Ratio: | 0.8 to 1 | 1.1 to 1 | 2.2 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 100.0 | 0.0 | 67.0 |
| – Strength Index Reading (3 Year Range): | Bullish-Extreme | Bearish-Extreme | Bullish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | 5.9 | -1.4 | -33.0 |
Natural Gas Futures:
The Natural Gas Futures large speculator standing this week came in at a net position of -141,907 contracts in the data reported through Tuesday. This was a weekly increase of 4,310 contracts from the previous week which had a total of -146,217 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 36.0 percent. The commercials are Bullish with a score of 65.6 percent and the small traders (not shown in chart) are Bullish with a score of 59.5 percent.
| Natural Gas Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 19.3 | 44.5 | 5.0 |
| – Percent of Open Interest Shorts: | 32.0 | 34.7 | 2.1 |
| – Net Position: | -141,907 | 110,122 | 31,785 |
| – Gross Longs: | 216,171 | 497,375 | 55,643 |
| – Gross Shorts: | 358,078 | 387,253 | 23,858 |
| – Long to Short Ratio: | 0.6 to 1 | 1.3 to 1 | 2.3 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 36.0 | 65.6 | 59.5 |
| – Strength Index Reading (3 Year Range): | Bearish | Bullish | Bullish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -1.4 | 4.1 | -20.6 |
Gasoline Blendstock Futures:
The Gasoline Blendstock Futures large speculator standing this week came in at a net position of 64,317 contracts in the data reported through Tuesday. This was a weekly boost of 7,072 contracts from the previous week which had a total of 57,245 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 35.6 percent. The commercials are Bullish with a score of 66.5 percent and the small traders (not shown in chart) are Bearish with a score of 48.2 percent.
| Nasdaq Mini Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 32.6 | 45.3 | 6.4 |
| – Percent of Open Interest Shorts: | 12.0 | 67.9 | 4.4 |
| – Net Position: | 64,317 | -70,453 | 6,136 |
| – Gross Longs: | 101,919 | 141,535 | 19,994 |
| – Gross Shorts: | 37,602 | 211,988 | 13,858 |
| – Long to Short Ratio: | 2.7 to 1 | 0.7 to 1 | 1.4 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 35.6 | 66.5 | 48.2 |
| – Strength Index Reading (3 Year Range): | Bearish | Bullish | Bearish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | 8.5 | -9.1 | 4.5 |
#2 Heating Oil NY-Harbor Futures:
The #2 Heating Oil NY-Harbor Futures large speculator standing this week came in at a net position of 7,492 contracts in the data reported through Tuesday. This was a weekly lift of 3,861 contracts from the previous week which had a total of 4,897 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 53.4 percent. The commercials are Bearish with a score of 39.5 percent and the small traders (not shown in chart) are Bullish with a score of 75.7 percent.
| Heating Oil Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 14.4 | 51.4 | 13.9 |
| – Percent of Open Interest Shorts: | 12.1 | 60.7 | 6.9 |
| – Net Position: | 7,492 | -29,819 | 22,327 |
| – Gross Longs: | 46,144 | 164,971 | 44,505 |
| – Gross Shorts: | 38,652 | 194,790 | 22,178 |
| – Long to Short Ratio: | 1.2 to 1 | 0.8 to 1 | 2.0 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 53.4 | 39.5 | 75.7 |
| – Strength Index Reading (3 Year Range): | Bullish | Bearish | Bullish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -12.0 | 1.3 | 24.1 |
Bloomberg Commodity Index Futures:
The Bloomberg Commodity Index Futures large speculator standing this week came in at a net position of -16,517 contracts in the data reported through Tuesday. This was a weekly lowering of -6,522 contracts from the previous week which had a total of -9,995 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 44.3 percent. The commercials are Bearish with a score of 48.1 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 100.0 percent.
| Bloomberg Index Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 62.4 | 30.8 | 4.8 |
| – Percent of Open Interest Shorts: | 96.7 | 1.2 | 0.1 |
| – Net Position: | -16,517 | 14,248 | 2,269 |
| – Gross Longs: | 30,066 | 14,848 | 2,296 |
| – Gross Shorts: | 46,583 | 600 | 27 |
| – Long to Short Ratio: | 0.6 to 1 | 24.7 to 1 | 85.0 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 44.3 | 48.1 | 100.0 |
| – Strength Index Reading (3 Year Range): | Bearish | Bearish | Bullish-Extreme |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -9.9 | 4.0 | 54.9 |
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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