COT Soft Commodities Speculators pushed their Corn bullish bets higher this week

February 26, 2022

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 February 22nd 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 is this week’s jump in Corn futures bets. The speculative net position in the Corn futures rose sharply this week following two weeks of decline. The Corn speculator position, despite falling in the previous two weeks, have now actually gained by a total of +63,604 contracts over the past five weeks. The boost has pushed speculator positions to the highest bullish position of the past three weeks and second highest of the past eight weeks. Corn prices, meanwhile, surged upwards this week and touched the highest level since May of last year.

The soft commodities that saw higher speculator bets this week were Corn (37,250 contracts), Sugar (683 contracts), Soybeans (9,732 contracts), Soybean Oil (15,773 contracts), Soybean Meal (2,556 contracts) and Wheat (1,944 contracts).

The soft commodities that saw lower speculator bets this week were Coffee (-2,634 contracts), Cocoa (-7,301 contracts), Live Cattle (-1,324 contracts), Cotton (-3,421 contracts) and Lean Hogs (-894 contracts).


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Data Snapshot of Commodity Market Traders | Columns Legend
Feb-22-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 2,058,132 29 339,041 2 -382,891 90 43,850 77
Gold 611,488 49 243,148 65 -269,722 35 26,574 40
Silver 163,745 29 30,302 53 -43,720 56 13,418 21
Copper 204,123 29 25,575 61 -34,754 36 9,179 78
Palladium 7,903 7 -1,429 13 1,118 83 311 63
Platinum 62,274 26 17,540 27 -22,887 76 5,347 37
Natural Gas 1,107,113 2 -130,629 39 95,974 61 34,655 67
Brent 215,908 52 -26,355 73 24,478 31 1,877 35
Heating Oil 349,618 31 6,455 52 -32,434 37 25,979 88
Soybeans 826,824 51 226,464 86 -196,755 20 -29,709 21
Corn 1,563,758 32 451,742 88 -410,962 13 -40,780 20
Coffee 252,688 24 67,791 98 -72,509 3 4,718 21
Sugar 857,376 8 75,246 52 -95,306 50 20,060 33
Wheat 379,308 23 -3,902 44 10,629 51 -6,727 69

 


CORN Futures:

The CORN large speculator standing this week was a net position of 451,742 contracts in the data reported through Tuesday. This was a weekly lift of 37,250 contracts from the previous week which had a total of 414,492 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 87.7 percent. The commercials are Bearish-Extreme with a score of 13.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 19.6 percent.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 34.3 43.5 9.2
– Percent of Open Interest Shorts: 5.4 69.8 11.8
– Net Position: 451,742 -410,962 -40,780
– Gross Longs: 536,898 680,211 144,247
– Gross Shorts: 85,156 1,091,173 185,027
– Long to Short Ratio: 6.3 to 1 0.6 to 1 0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 87.7 13.4 19.6
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 5.7 -6.3 -0.1

 


SUGAR Futures:

The SUGAR large speculator standing this week was a net position of 75,246 contracts in the data reported through Tuesday. This was a weekly boost of 683 contracts from the previous week which had a total of 74,563 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 52.1 percent. The commercials are Bullish with a score of 50.1 percent and the small traders (not shown in chart) are Bearish with a score of 32.7 percent.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 21.3 56.0 9.2
– Percent of Open Interest Shorts: 12.6 67.1 6.9
– Net Position: 75,246 -95,306 20,060
– Gross Longs: 183,029 480,097 79,212
– Gross Shorts: 107,783 575,403 59,152
– Long to Short Ratio: 1.7 to 1 0.8 to 1 1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 52.1 50.1 32.7
– Strength Index Reading (3 Year Range): Bullish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -9.8 7.4 10.5

 


COFFEE Futures:

The COFFEE large speculator standing this week was a net position of 67,791 contracts in the data reported through Tuesday. This was a weekly decrease of -2,634 contracts from the previous week which had a total of 70,425 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 97.8 percent. The commercials are Bearish-Extreme with a score of 3.0 percent and the small traders (not shown in chart) are Bearish with a score of 21.0 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.7 41.8 4.3
– Percent of Open Interest Shorts: 3.9 70.5 2.5
– Net Position: 67,791 -72,509 4,718
– Gross Longs: 77,625 105,619 10,958
– Gross Shorts: 9,834 178,128 6,240
– Long to Short Ratio: 7.9 to 1 0.6 to 1 1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 97.8 3.0 21.0
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 5.5 -7.0 9.0

 


SOYBEANS Futures:

The SOYBEANS large speculator standing this week was a net position of 226,464 contracts in the data reported through Tuesday. This was a weekly rise of 9,732 contracts from the previous week which had a total of 216,732 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 86.3 percent. The commercials are Bearish-Extreme with a score of 19.5 percent and the small traders (not shown in chart) are Bearish with a score of 20.8 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 33.1 42.9 6.9
– Percent of Open Interest Shorts: 5.8 66.7 10.5
– Net Position: 226,464 -196,755 -29,709
– Gross Longs: 274,012 354,837 57,443
– Gross Shorts: 47,548 551,592 87,152
– Long to Short Ratio: 5.8 to 1 0.6 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 86.3 19.5 20.8
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 21.8 -21.6 6.2

 


SOYBEAN OIL Futures:

The SOYBEAN OIL large speculator standing this week was a net position of 83,093 contracts in the data reported through Tuesday. This was a weekly rise of 15,773 contracts from the previous week which had a total of 67,320 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 68.7 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 66.4 percent.

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.8 44.7 9.3
– Percent of Open Interest Shorts: 7.6 68.4 5.9
– Net Position: 83,093 -97,272 14,179
– Gross Longs: 114,335 183,547 38,221
– Gross Shorts: 31,242 280,819 24,042
– Long to Short Ratio: 3.7 to 1 0.7 to 1 1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 68.7 31.1 66.4
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 17.9 -19.1 18.5

 


SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week was a net position of 112,100 contracts in the data reported through Tuesday. This was a weekly lift of 2,556 contracts from the previous week which had a total of 109,544 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 94.4 percent. The commercials are Bearish-Extreme with a score of 3.7 percent and the small traders (not shown in chart) are Bullish with a score of 76.4 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.5 41.9 11.4
– Percent of Open Interest Shorts: 4.0 73.4 5.4
– Net Position: 112,100 -138,497 26,397
– Gross Longs: 129,919 184,652 49,974
– Gross Shorts: 17,819 323,149 23,577
– Long to Short Ratio: 7.3 to 1 0.6 to 1 2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 94.4 3.7 76.4
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 8.7 -8.8 3.0

 


LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week was a net position of 82,243 contracts in the data reported through Tuesday. This was a weekly reduction of -1,324 contracts from the previous week which had a total of 83,567 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 Bullish with a score of 52.5 percent and the small traders (not shown in chart) are Bullish with a score of 50.6 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 36.4 36.4 9.0
– Percent of Open Interest Shorts: 13.7 55.1 13.2
– Net Position: 82,243 -67,284 -14,959
– Gross Longs: 131,540 131,571 32,596
– Gross Shorts: 49,297 198,855 47,555
– Long to Short Ratio: 2.7 to 1 0.7 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 44.3 52.5 50.6
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 13.7 -8.2 -25.5

 


LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week was a net position of 66,438 contracts in the data reported through Tuesday. This was a weekly lowering of -894 contracts from the previous week which had a total of 67,332 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 79.1 percent. The commercials are Bearish with a score of 25.1 percent and the small traders (not shown in chart) are Bearish with a score of 33.4 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 39.3 32.5 8.2
– Percent of Open Interest Shorts: 15.8 52.2 12.0
– Net Position: 66,438 -55,639 -10,799
– Gross Longs: 111,021 91,697 23,034
– Gross Shorts: 44,583 147,336 33,833
– Long to Short Ratio: 2.5 to 1 0.6 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 79.1 25.1 33.4
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 17.2 -22.2 21.1

 


COTTON Futures:

The COTTON large speculator standing this week was a net position of 90,302 contracts in the data reported through Tuesday. This was a weekly decrease of -3,421 contracts from the previous week which had a total of 93,723 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 80.2 percent. The commercials are Bearish-Extreme with a score of 18.5 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 84.9 percent.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 43.4 38.3 8.2
– Percent of Open Interest Shorts: 5.3 81.2 3.4
– Net Position: 90,302 -101,731 11,429
– Gross Longs: 102,764 90,576 19,371
– Gross Shorts: 12,462 192,307 7,942
– Long to Short Ratio: 8.2 to 1 0.5 to 1 2.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 80.2 18.5 84.9
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -2.2 2.8 -7.6

 


COCOA Futures:

The COCOA large speculator standing this week was a net position of 41,915 contracts in the data reported through Tuesday. This was a weekly decrease of -7,301 contracts from the previous week which had a total of 49,216 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 61.6 percent. The commercials are Bearish with a score of 35.9 percent and the small traders (not shown in chart) are Bullish with a score of 78.5 percent.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.7 42.7 5.5
– Percent of Open Interest Shorts: 16.4 61.4 3.1
– Net Position: 41,915 -48,066 6,151
– Gross Longs: 83,987 109,435 14,151
– Gross Shorts: 42,072 157,501 8,000
– Long to Short Ratio: 2.0 to 1 0.7 to 1 1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 61.6 35.9 78.5
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 24.6 -26.5 30.1

 


WHEAT Futures:

The WHEAT large speculator standing this week was a net position of -3,902 contracts in the data reported through Tuesday. This was a weekly rise of 1,944 contracts from the previous week which had a total of -5,846 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 43.7 percent. The commercials are Bullish with a score of 51.2 percent and the small traders (not shown in chart) are Bullish with a score of 69.4 percent.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.8 40.8 8.9
– Percent of Open Interest Shorts: 26.8 38.0 10.7
– Net Position: -3,902 10,629 -6,727
– Gross Longs: 97,675 154,648 33,795
– Gross Shorts: 101,577 144,019 40,522
– Long to Short Ratio: 1.0 to 1 1.1 to 1 0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 43.7 51.2 69.4
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -2.1 -1.4 18.7

 


Article By InvestMacroReceive 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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