27 Dec

COT Soft Commodities Speculators boosted Soybean bullish bets to 18-week high

December 27, 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 release was delayed by the CFTC due to the Christmas holiday.

The latest COT data is updated through Tuesday December 21st 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 is the sharp rise in Soybean bullish bets to an 18-week high-point. Soybeans speculator positions rose for a third consecutive week as bullish bets went back over the +100,000 net contract level for the first time since August. Last week’s rise was the largest one-week gain of the past sixty-eight weeks, dating back to September 1st of 2020.

The soft commodities that saw higher bets on the week were Corn (18,699 contracts), Soybeans (39,656 contracts), Soybean Meal (8,705 contracts), Lean Hogs (1,094 contracts), Cotton (-951 contracts) and Cocoa (1,804 contracts).

The markets that had lower bets were Sugar (-27,265 contracts), Coffee (-4,174 contracts), Soybean Oil (-2,755 contracts), Live Cattle (-13,158 contracts) and Wheat (-2,833 contracts).

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Data Snapshot of Commodity Market Traders | Columns Legend
Dec-21-2021OIOI-IndexSpec-NetSpec-IndexCom-NetCOM-IndexSmalls-NetSmalls-Index
WTI Crude1,892,7010340,25520-375,8167035,56165
Gold500,84619205,81153-236,0294630,21850
Silver141,119820,92643-36,3996315,47330
Copper170,35354,43746-9,777535,34056
Palladium9,51814-3,63913,98599-34624
Platinum64,732301,2684-7,717986,44952
Natural Gas1,142,7294-141,21236109,5516531,66159
Brent224,11058-25,0017622,225262,77647
Heating Oil302,72134,89750-21,0604916,16354
Soybeans654,46011102,87756-72,35249-30,52521
Corn1,485,41219445,32087-401,28015-44,04018
Coffee258,8712856,13489-57,984141,8501
Sugar864,0829189,19875-210,7832821,58535
Wheat357,381119,13255-1,60139-7,53166

 

CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week recorded a net position of 445,320 contracts in the data reported through Tuesday. This was a weekly lift of 18,699 contracts from the previous week which had a total of 426,621 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 Bullish-Extreme with a score of 86.9 percent. The commercials are Bearish-Extreme with a score of 14.8 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 17.7 percent.

CORN Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:34.944.48.8
– Percent of Open Interest Shorts:4.971.411.8
– Net Position:445,320-401,280-44,040
– Gross Longs:517,718659,593131,137
– Gross Shorts:72,3981,060,873175,177
– Long to Short Ratio:7.2 to 10.6 to 10.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):86.914.817.7
– Strength Index Reading (3 Year Range):Bullish-ExtremeBearish-ExtremeBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:8.9-11.46.0

 

SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week recorded a net position of 189,198 contracts in the data reported through Tuesday. This was a weekly reduction of -27,265 contracts from the previous week which had a total of 216,463 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 75.5 percent. The commercials are Bearish with a score of 28.2 percent and the small traders (not shown in chart) are Bearish with a score of 34.5 percent.

SUGAR Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:27.949.48.7
– Percent of Open Interest Shorts:6.073.86.3
– Net Position:189,198-210,78321,585
– Gross Longs:240,751426,55775,597
– Gross Shorts:51,553637,34054,012
– Long to Short Ratio:4.7 to 10.7 to 11.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):75.528.234.5
– Strength Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-4.79.5-33.6

 

COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week recorded a net position of 56,134 contracts in the data reported through Tuesday. This was a weekly decrease of -4,174 contracts from the previous week which had a total of 60,308 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 89.4 percent. The commercials are Bearish-Extreme with a score of 14.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 1.1 percent.

COFFEE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:27.048.13.5
– Percent of Open Interest Shorts:5.370.52.8
– Net Position:56,134-57,9841,850
– Gross Longs:69,794124,4659,132
– Gross Shorts:13,660182,4497,282
– Long to Short Ratio:5.1 to 10.7 to 11.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):89.414.41.1
– Strength Index Reading (3 Year Range):Bullish-ExtremeBearish-ExtremeBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-3.45.8-18.7

 

SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week recorded a net position of 102,877 contracts in the data reported through Tuesday. This was a weekly lift of 39,656 contracts from the previous week which had a total of 63,221 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 55.8 percent. The commercials are Bearish with a score of 48.8 percent and the small traders (not shown in chart) are Bearish with a score of 21.0 percent.

SOYBEANS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:23.253.27.7
– Percent of Open Interest Shorts:7.564.312.4
– Net Position:102,877-72,352-30,525
– Gross Longs:152,008348,39750,683
– Gross Shorts:49,131420,74981,208
– Long to Short Ratio:3.1 to 10.8 to 10.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):55.848.821.0
– Strength Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:18.6-19.210.2

 

SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week recorded a net position of 80,134 contracts in the data reported through Tuesday. This was a weekly rise of 8,705 contracts from the previous week which had a total of 71,429 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 Bullish with a score of 75.7 percent. The commercials are Bearish with a score of 24.5 percent and the small traders (not shown in chart) are Bullish with a score of 56.2 percent.

SOYBEAN MEAL Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:25.446.611.8
– Percent of Open Interest Shorts:5.472.06.5
– Net Position:80,134-101,47921,345
– Gross Longs:101,957186,87447,345
– Gross Shorts:21,823288,35326,000
– Long to Short Ratio:4.7 to 10.6 to 11.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):75.724.556.2
– Strength Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:20.2-17.4-14.7

 

LIVE CATTLE Futures:

LIVE CATTLE Futures COT ChartThe LIVE CATTLE large speculator standing this week recorded a net position of 66,356 contracts in the data reported through Tuesday. This was a weekly reduction of -13,158 contracts from the previous week which had a total of 79,514 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 33.6 percent. The commercials are Bullish with a score of 60.4 percent and the small traders (not shown in chart) are Bullish with a score of 66.1 percent.

LIVE CATTLE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:37.437.310.3
– Percent of Open Interest Shorts:15.556.313.1
– Net Position:66,356-57,712-8,644
– Gross Longs:113,339112,96531,159
– Gross Shorts:46,983170,67739,803
– Long to Short Ratio:2.4 to 10.7 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):33.660.466.1
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:11.5-13.6-1.7

 

LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week recorded a net position of 55,296 contracts in the data reported through Tuesday. This was a weekly gain of 1,094 contracts from the previous week which had a total of 54,202 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 68.2 percent. The commercials are Bearish with a score of 42.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.0 percent.

LEAN HOGS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:40.536.37.4
– Percent of Open Interest Shorts:14.354.915.0
– Net Position:55,296-39,273-16,023
– Gross Longs:85,55976,68615,634
– Gross Shorts:30,263115,95931,657
– Long to Short Ratio:2.8 to 10.7 to 10.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):68.242.111.0
– Strength Index Reading (3 Year Range):BullishBearishBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:10.9-11.10.6

 

COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week recorded a net position of 87,737 contracts in the data reported through Tuesday. This was a weekly reduction of -951 contracts from the previous week which had a total of 88,688 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 78.6 percent. The commercials are Bearish with a score of 20.6 percent and the small traders (not shown in chart) are Bullish with a score of 78.2 percent.

COTTON Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:43.435.97.5
– Percent of Open Interest Shorts:5.378.63.0
– Net Position:87,737-98,09810,361
– Gross Longs:99,89282,57617,286
– Gross Shorts:12,155180,6746,925
– Long to Short Ratio:8.2 to 10.5 to 12.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):78.620.678.2
– Strength Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-10.111.3-21.6

 

COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week recorded a net position of 703 contracts in the data reported through Tuesday. This was a weekly gain of 1,804 contracts from the previous week which had a total of -1,101 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 24.0 percent. The commercials are Bullish with a score of 76.6 percent and the small traders (not shown in chart) are Bearish with a score of 29.3 percent.

COCOA Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:26.052.65.1
– Percent of Open Interest Shorts:25.753.74.3
– Net Position:703-2,5341,831
– Gross Longs:60,704122,52111,806
– Gross Shorts:60,001125,0559,975
– Long to Short Ratio:1.0 to 11.0 to 11.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):24.076.629.3
– Strength Index Reading (3 Year Range):BearishBullishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:4.9-3.5-15.4

 

WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week recorded a net position of 9,132 contracts in the data reported through Tuesday. This was a weekly lowering of -2,833 contracts from the previous week which had a total of 11,965 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 54.8 percent. The commercials are Bearish with a score of 39.3 percent and the small traders (not shown in chart) are Bullish with a score of 65.6 percent.

WHEAT Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:29.037.68.3
– Percent of Open Interest Shorts:26.538.010.5
– Net Position:9,132-1,601-7,531
– Gross Longs:103,696134,20629,825
– Gross Shorts:94,564135,80737,356
– Long to Short Ratio:1.1 to 11.0 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):54.839.365.6
– Strength Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-8.611.5-8.3

 

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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