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COT Futures Charts: Soft Commodities Speculator bets mixed

May 22, 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 May 17th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Soft Commodities market speculator bets were mixed this week as five out of the eleven softs markets we cover had higher positioning this week while six markets saw lower positions. Leading the gains for the soft commodities was Sugar (9,445 contracts) and Soybeans (9,039 contracts) with Wheat (7,120 contracts), Coffee (5,932 contracts) and Corn (2,835 contracts) also showing a positive week. Meanwhile, leading the declines in speculator bets this week were Soybean Meal (-10,832 contracts) and Lean Hogs (-8,595 contracts) with Live Cattle (-4,773 contracts), Soybean Oil (-4,295 contracts), Cotton (-2,443 contracts) and Cocoa (-2,463 contracts) also coming in with lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend
May-17-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 1,730,665 0 325,637 7 -363,869 95 38,232 69
Gold 555,756 30 175,360 33 -206,879 65 31,519 48
Silver 144,534 11 16,114 38 -24,841 75 8,727 0
Copper 189,483 19 -24,408 25 23,059 75 1,349 33
Palladium 9,114 13 -3,215 3 3,621 97 -406 20
Platinum 65,926 32 2,203 7 -6,697 96 4,494 25
Natural Gas 1,118,417 8 -115,012 44 64,340 51 50,672 100
Brent 176,861 21 -34,867 53 32,127 47 2,740 46
Heating Oil 349,618 31 6,455 52 -32,434 37 25,979 88
Soybeans 709,144 24 183,647 73 -156,937 33 -26,710 26
Corn 1,548,438 29 473,743 91 -424,756 11 -48,987 15
Coffee 206,106 0 38,487 72 -40,949 32 2,462 13
Sugar 825,281 6 196,630 77 -245,374 22 48,744 68
Wheat 326,651 8 28,806 57 -26,020 23 -2,786 98

 

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CORN Futures:

The CORN large speculator standing this week came in at a net position of 473,743 contracts in the data reported through Tuesday. This was a weekly lift of 2,835 contracts from the previous week which had a total of 470,908 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 90.6 percent. The commercials are Bearish-Extreme with a score of 11.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 14.8 percent.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 38.1 42.2 9.3
– Percent of Open Interest Shorts: 7.5 69.6 12.4
– Net Position: 473,743 -424,756 -48,987
– Gross Longs: 589,352 653,039 143,508
– Gross Shorts: 115,609 1,077,795 192,495
– Long to Short Ratio: 5.1 to 1 0.6 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 90.6 11.4 14.8
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.7 -0.1 8.0

 

SUGAR Futures:

The SUGAR large speculator standing this week came in at a net position of 196,630 contracts in the data reported through Tuesday. This was a weekly advance of 9,445 contracts from the previous week which had a total of 187,185 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 77.0 percent. The commercials are Bearish with a score of 21.6 percent and the small traders (not shown in chart) are Bullish with a score of 68.1 percent.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.6 45.9 11.4
– Percent of Open Interest Shorts: 6.8 75.6 5.5
– Net Position: 196,630 -245,374 48,744
– Gross Longs: 252,752 378,422 94,457
– Gross Shorts: 56,122 623,796 45,713
– Long to Short Ratio: 4.5 to 1 0.6 to 1 2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 77.0 21.6 68.1
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 1.7 -1.0 -3.5

 

COFFEE Futures:

The COFFEE large speculator standing this week came in at a net position of 38,487 contracts in the data reported through Tuesday. This was a weekly increase of 5,932 contracts from the previous week which had a total of 32,555 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 32.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 12.7 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 24.0 54.0 4.1
– Percent of Open Interest Shorts: 5.3 73.9 2.9
– Net Position: 38,487 -40,949 2,462
– Gross Longs: 49,501 111,397 8,495
– Gross Shorts: 11,014 152,346 6,033
– Long to Short Ratio: 4.5 to 1 0.7 to 1 1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 72.1 32.1 12.7
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -4.6 7.1 -21.6

 

SOYBEANS Futures:

The SOYBEANS large speculator standing this week came in at a net position of 183,647 contracts in the data reported through Tuesday. This was a weekly rise of 9,039 contracts from the previous week which had a total of 174,608 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 72.6 percent. The commercials are Bearish with a score of 33.0 percent and the small traders (not shown in chart) are Bearish with a score of 25.9 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.7 47.8 7.0
– Percent of Open Interest Shorts: 6.8 69.9 10.8
– Net Position: 183,647 -156,937 -26,710
– Gross Longs: 231,911 338,718 49,750
– Gross Shorts: 48,264 495,655 76,460
– Long to Short Ratio: 4.8 to 1 0.7 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 72.6 33.0 25.9
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -4.3 3.7 2.3

 

SOYBEAN OIL Futures:

The SOYBEAN OIL large speculator standing this week came in at a net position of 96,301 contracts in the data reported through Tuesday. This was a weekly decline of -4,295 contracts from the previous week which had a total of 100,596 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 72.5 percent. The commercials are Bearish with a score of 23.8 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 93.4 percent.

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.1 46.1 10.6
– Percent of Open Interest Shorts: 5.2 77.7 4.9
– Net Position: 96,301 -117,724 21,423
– Gross Longs: 115,709 171,880 39,590
– Gross Shorts: 19,408 289,604 18,167
– Long to Short Ratio: 6.0 to 1 0.6 to 1 2.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 72.5 23.8 93.4
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 4.2 -7.1 21.4

 

SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week came in at a net position of 73,300 contracts in the data reported through Tuesday. This was a weekly decrease of -10,832 contracts from the previous week which had a total of 84,132 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 68.3 percent. The commercials are Bearish with a score of 30.6 percent and the small traders (not shown in chart) are Bullish with a score of 75.3 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.6 47.3 13.9
– Percent of Open Interest Shorts: 8.4 75.2 6.3
– Net Position: 73,300 -100,729 27,429
– Gross Longs: 103,499 171,144 50,082
– Gross Shorts: 30,199 271,873 22,653
– Long to Short Ratio: 3.4 to 1 0.6 to 1 2.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 68.3 30.6 75.3
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -28.1 27.7 -14.2

 

LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week came in at a net position of 35,030 contracts in the data reported through Tuesday. This was a weekly lowering of -4,773 contracts from the previous week which had a total of 39,803 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 22.7 percent. The commercials are Bullish with a score of 70.8 percent and the small traders (not shown in chart) are Bullish with a score of 69.3 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 35.6 39.2 10.8
– Percent of Open Interest Shorts: 24.0 49.7 12.0
– Net Position: 35,030 -31,417 -3,613
– Gross Longs: 107,168 117,903 32,549
– Gross Shorts: 72,138 149,320 36,162
– Long to Short Ratio: 1.5 to 1 0.8 to 1 0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 22.7 70.8 69.3
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -17.2 12.4 16.6

 

LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week came in at a net position of 7,765 contracts in the data reported through Tuesday. This was a weekly lowering of -8,595 contracts from the previous week which had a total of 16,360 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 15.2 percent. The commercials are Bullish-Extreme with a score of 90.3 percent and the small traders (not shown in chart) are Bullish with a score of 70.0 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.9 39.9 10.5
– Percent of Open Interest Shorts: 25.1 41.2 13.0
– Net Position: 7,765 -2,647 -5,118
– Gross Longs: 58,847 81,203 21,361
– Gross Shorts: 51,082 83,850 26,479
– Long to Short Ratio: 1.2 to 1 1.0 to 1 0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 15.2 90.3 70.0
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -41.1 42.7 8.5

 

COTTON Futures:

The COTTON large speculator standing this week came in at a net position of 79,316 contracts in the data reported through Tuesday. This was a weekly decrease of -2,443 contracts from the previous week which had a total of 81,759 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 73.2 percent. The commercials are Bearish with a score of 24.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 85.4 percent.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 45.1 34.6 9.2
– Percent of Open Interest Shorts: 6.0 79.4 3.5
– Net Position: 79,316 -90,872 11,556
– Gross Longs: 91,525 70,065 18,559
– Gross Shorts: 12,209 160,937 7,003
– Long to Short Ratio: 7.5 to 1 0.4 to 1 2.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 73.2 24.9 85.4
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -3.2 4.0 -12.1

 

COCOA Futures:

The COCOA large speculator standing this week came in at a net position of 18,583 contracts in the data reported through Tuesday. This was a weekly fall of -2,463 contracts from the previous week which had a total of 21,046 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 35.8 percent. The commercials are Bullish with a score of 62.9 percent and the small traders (not shown in chart) are Bearish with a score of 47.4 percent.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.9 44.5 5.7
– Percent of Open Interest Shorts: 23.5 52.6 4.0
– Net Position: 18,583 -23,668 5,085
– Gross Longs: 87,225 129,740 16,687
– Gross Shorts: 68,642 153,408 11,602
– Long to Short Ratio: 1.3 to 1 0.8 to 1 1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 35.8 62.9 47.4
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -17.7 19.0 -14.9

 

WHEAT Futures:

The WHEAT large speculator standing this week came in at a net position of 28,806 contracts in the data reported through Tuesday. This was a weekly advance of 7,120 contracts from the previous week which had a total of 21,686 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 56.5 percent. The commercials are Bearish with a score of 22.7 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 98.3 percent.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 37.2 36.8 10.4
– Percent of Open Interest Shorts: 28.4 44.8 11.3
– Net Position: 28,806 -26,020 -2,786
– Gross Longs: 121,593 120,341 33,993
– Gross Shorts: 92,787 146,361 36,779
– Long to Short Ratio: 1.3 to 1 0.8 to 1 0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 56.5 22.7 98.3
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 11.5 -15.2 9.7

 

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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