COT Futures: This Week’s Soft Commodities Markets Charts

May 7, 2022

By InvestMacro | COT | Data Tables | COT Leaders | Downloads | COT Newsletter

COT_Commodities_OI

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 3rd 2022 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

The soft commodities that saw higher bets this week were Corn (4,240 contracts), Cotton (1,688 contracts) and Cocoa (11,905 contracts) while lower bets were seen in Sugar (-20,957 contracts), Coffee (-1,140 contracts), Soybeans (-13,404 contracts), Soybean Oil (-9,667 contracts), Soybean Meal (-16,734 contracts), Live Cattle (-14,313 contracts), Lean Hogs (-10,305 contracts) and Wheat (-1,638 contracts).

 


Data Snapshot of Commodity Market Traders | Columns Legend
May-03-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 1,751,564 2 321,701 6 -366,213 94 44,512 78
Gold 560,441 31 199,168 42 -231,852 55 32,684 57
Silver 137,692 5 28,068 50 -39,317 60 11,249 8
Copper 185,255 16 -15,623 31 10,080 66 5,543 57
Palladium 7,638 6 -2,752 6 2,455 90 297 61
Platinum 66,545 33 -1,541 1 -3,667 100 5,208 35
Natural Gas 1,138,319 12 -117,706 43 72,861 54 44,845 92
Brent 168,128 14 -27,318 65 26,014 37 1,304 27
Heating Oil 349,618 31 6,455 52 -32,434 37 25,979 88
Soybeans 700,856 22 190,402 77 -165,353 27 -25,049 29
Corn 1,513,880 23 501,865 94 -451,210 8 -50,655 14
Coffee 206,337 1 40,697 77 -43,007 28 2,310 5
Sugar 818,627 1 201,592 78 -236,394 23 34,802 51
Wheat 319,233 0 20,012 60 -14,225 30 -5,787 82

 


CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week recorded a net position of 501,865 contracts in the data reported through Tuesday. This was a weekly advance of 4,240 contracts from the previous week which had a total of 497,625 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 94.1 percent. The commercials are Bearish-Extreme with a score of 7.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 13.9 percent.


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CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 39.0 42.5 9.3
– Percent of Open Interest Shorts: 5.8 72.3 12.6
– Net Position: 501,865 -451,210 -50,655
– Gross Longs: 589,856 642,906 140,438
– Gross Shorts: 87,991 1,094,116 191,093
– Long to Short Ratio: 6.7 to 1 0.6 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 94.1 7.7 13.9
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -2.2 2.8 -1.2

 


SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week recorded a net position of 201,592 contracts in the data reported through Tuesday. This was a weekly lowering of -20,957 contracts from the previous week which had a total of 222,549 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 78.0 percent. The commercials are Bearish with a score of 23.3 percent and the small traders (not shown in chart) are Bullish with a score of 50.9 percent.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.4 44.8 10.4
– Percent of Open Interest Shorts: 7.7 73.7 6.1
– Net Position: 201,592 -236,394 34,802
– Gross Longs: 264,899 366,584 85,022
– Gross Shorts: 63,307 602,978 50,220
– Long to Short Ratio: 4.2 to 1 0.6 to 1 1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 78.0 23.3 50.9
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 9.4 -8.0 -4.6

 


COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week recorded a net position of 40,697 contracts in the data reported through Tuesday. This was a weekly fall of -1,140 contracts from the previous week which had a total of 41,837 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 76.7 percent. The commercials are Bearish with a score of 27.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 5.1 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.6 54.1 4.4
– Percent of Open Interest Shorts: 5.9 74.9 3.3
– Net Position: 40,697 -43,007 2,310
– Gross Longs: 52,804 111,613 9,017
– Gross Shorts: 12,107 154,620 6,707
– Long to Short Ratio: 4.4 to 1 0.7 to 1 1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 76.7 27.6 5.1
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -0.9 2.3 -13.6

 


SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week recorded a net position of 190,402 contracts in the data reported through Tuesday. This was a weekly fall of -13,404 contracts from the previous week which had a total of 203,806 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 77.4 percent. The commercials are Bearish with a score of 27.1 percent and the small traders (not shown in chart) are Bearish with a score of 28.7 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 34.2 46.5 7.3
– Percent of Open Interest Shorts: 7.0 70.1 10.9
– Net Position: 190,402 -165,353 -25,049
– Gross Longs: 239,355 325,746 51,469
– Gross Shorts: 48,953 491,099 76,518
– Long to Short Ratio: 4.9 to 1 0.7 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 77.4 27.1 28.7
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -7.0 6.7 -0.1

 


SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week recorded a net position of 97,291 contracts in the data reported through Tuesday. This was a weekly reduction of -9,667 contracts from the previous week which had a total of 106,958 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 76.3 percent. The commercials are Bearish with a score of 24.3 percent and the small traders (not shown in chart) are Bullish with a score of 65.6 percent.

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.1 46.6 9.8
– Percent of Open Interest Shorts: 5.2 77.4 5.9
– Net Position: 97,291 -111,267 13,976
– Gross Longs: 116,132 168,590 35,309
– Gross Shorts: 18,841 279,857 21,333
– Long to Short Ratio: 6.2 to 1 0.6 to 1 1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 76.3 24.3 65.6
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 2.5 0.1 -18.5

 


SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week recorded a net position of 99,561 contracts in the data reported through Tuesday. This was a weekly lowering of -16,734 contracts from the previous week which had a total of 116,295 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 82.9 percent. The commercials are Bearish with a score of 20.7 percent and the small traders (not shown in chart) are Bearish with a score of 38.3 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.7 46.1 12.0
– Percent of Open Interest Shorts: 5.6 78.7 6.5
– Net Position: 99,561 -119,714 20,153
– Gross Longs: 119,912 168,901 44,077
– Gross Shorts: 20,351 288,615 23,924
– Long to Short Ratio: 5.9 to 1 0.6 to 1 1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 82.9 20.7 38.3
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -16.3 19.4 -41.3

 


LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week recorded a net position of 47,036 contracts in the data reported through Tuesday. This was a weekly reduction of -14,313 contracts from the previous week which had a total of 61,349 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 31.2 percent. The commercials are Bullish with a score of 64.2 percent and the small traders (not shown in chart) are Bullish with a score of 62.2 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 36.8 38.5 9.6
– Percent of Open Interest Shorts: 21.7 51.9 11.5
– Net Position: 47,036 -41,382 -5,654
– Gross Longs: 114,213 119,484 29,911
– Gross Shorts: 67,177 160,866 35,565
– Long to Short Ratio: 1.7 to 1 0.7 to 1 0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 31.2 64.2 62.2
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 0.3 -4.5 12.6

 


LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week recorded a net position of 22,031 contracts in the data reported through Tuesday. This was a weekly lowering of -10,305 contracts from the previous week which had a total of 32,336 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 30.7 percent. The commercials are Bullish with a score of 73.0 percent and the small traders (not shown in chart) are Bullish with a score of 72.3 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.1 37.2 10.0
– Percent of Open Interest Shorts: 22.2 45.1 12.1
– Net Position: 22,031 -17,357 -4,674
– Gross Longs: 71,110 82,388 22,152
– Gross Shorts: 49,079 99,745 26,826
– Long to Short Ratio: 1.4 to 1 0.8 to 1 0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 30.7 73.0 72.3
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -26.1 24.2 18.1

 


COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week recorded a net position of 83,433 contracts in the data reported through Tuesday. This was a weekly boost of 1,688 contracts from the previous week which had a total of 81,745 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 75.8 percent. The commercials are Bearish with a score of 21.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 91.4 percent.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 46.2 34.0 9.3
– Percent of Open Interest Shorts: 5.8 80.4 3.3
– Net Position: 83,433 -95,908 12,475
– Gross Longs: 95,320 70,082 19,238
– Gross Shorts: 11,887 165,990 6,763
– Long to Short Ratio: 8.0 to 1 0.4 to 1 2.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 75.8 21.9 91.4
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -2.5 3.0 -7.4

 


COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week recorded a net position of 36,559 contracts in the data reported through Tuesday. This was a weekly advance of 11,905 contracts from the previous week which had a total of 24,654 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 53.5 percent. The commercials are Bearish with a score of 43.8 percent and the small traders (not shown in chart) are Bullish with a score of 63.8 percent.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 33.5 42.2 6.1
– Percent of Open Interest Shorts: 19.2 59.2 3.5
– Net Position: 36,559 -43,277 6,718
– Gross Longs: 85,562 107,815 15,602
– Gross Shorts: 49,003 151,092 8,884
– Long to Short Ratio: 1.7 to 1 0.7 to 1 1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 53.5 43.8 63.8
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 5.2 -2.7 -26.2

 


WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week recorded a net position of 20,012 contracts in the data reported through Tuesday. This was a weekly reduction of -1,638 contracts from the previous week which had a total of 21,650 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 60.0 percent. The commercials are Bearish with a score of 30.3 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 82.3 percent.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 34.9 38.8 8.6
– Percent of Open Interest Shorts: 28.6 43.3 10.4
– Net Position: 20,012 -14,225 -5,787
– Gross Longs: 111,438 124,006 27,445
– Gross Shorts: 91,426 138,231 33,232
– Long to Short Ratio: 1.2 to 1 0.9 to 1 0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 60.0 30.3 82.3
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 10.0 -7.9 -17.7

 


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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.