COT Updates

Archive for COT Updates – Page 72

Commitment of Traders Data – Weekly Updates for the Futures Markets

Weekly COT Metals Speculator bets led higher by Silver, Copper & Platinum

Here are the latest charts and statistics for the Commitment of Traders (COT) reports data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday September 13th and shows a quick view of how large traders (for-profit speculators and commercial hedgers) were positioned in the futures markets.

Weekly Speculator Changes led higher by Silver, Copper & Platinum

The COT precious metals speculator bets were higher this week as four out of the five metals markets we cover had higher positioning this week with just one market having decreasing contracts.

Leading the gains for the precious metals markets was Silver (8,144 contracts) with Copper (5,004 contracts), Platinum (4,872 contracts) and Palladium (329 contracts) also showing positive weeks.

The metals markets leading the declines in speculator bets this week was Gold with a decline of -6,513 contracts the week.

Highlighting the COT metals data this week was Silver’s gain that stopped a streak of three straight weeks of declines. Silver speculator positions had fallen by a total of -16,292 contracts in the past three weeks to drop to the most bearish level since May 28th of 2019, a span of 171 weeks. The Silver price has been showing resilience between the $18 to $20 range over the past twelve weeks and closed this week over the $19.30 price level.

Data Snapshot of Commodity Market Traders | Columns Legend

Sep-13-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,498,059	3	227,057	4	-244,007	98	16,950	28
Gold	463,674	3	97,344	2	-110,938	99	13,594	9
Silver	135,530	3	-4,640	9	-2,551	93	7,191	4
Copper	157,900	0	-18,986	23	20,512	80	-1,526	16
Palladium	6,085	1	-1,273	16	1,455	83	-182	33
Platinum	68,574	36	-1,879	7	-2,051	93	3,930	17
Natural Gas	977,116	4	-145,715	35	110,794	66	34,921	63
Brent	164,415	12	-39,023	46	34,919	51	4,104	65
Heating Oil	290,916	31	16,064	66	-31,353	38	15,289	51
Soybeans	643,018	15	92,110	42	-61,424	68	-30,686	19
Corn	1,310,411	6	294,569	68	-234,179	39	-60,390	8
Coffee	197,657	10	42,267	75	-44,360	29	2,093	19
Sugar	751,873	9	68,330	51	-79,426	53	11,096	22
Wheat	287,046	0	-8,128	8	12,977	78	-4,849	85

Strength Scores

Strength scores (a measure of the 3-Year range of Speculator positions, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) showed that Copper (22.7 percent) leads the metals markets and is just out of a bearish extreme level (below 20 percent).

On the downside, all the other markets are currently below 20 percent and in bearish extreme positions. Gold (1.8 percent) continues to be at the lowest strength level and near the bottom of it 3-Year range. Platinum (6.6 percent), Silver (9.0 percent) and Palladium (15.7 percent) are the next lowest markets.

Strength Statistics:
Gold (1.8 percent) vs Gold previous week (4.3 percent)
Silver (9.0 percent) vs Silver previous week (0.0 percent)
Copper (22.7 percent) vs Copper previous week (18.8 percent)
Platinum (6.6 percent) vs Platinum previous week (0.0 percent)
Palladium (15.7 percent) vs Palladium previous week (13.8 percent)

Strength Trends led by Palladium and Copper

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Palladium (7.2 percent) leads the past six weeks trends for metals this week. Copper (6.6 percent) and Platinum (0.9 percent) are the only other positive movers in the latest trends data.

Gold (-10.3 percent) leads the downside trend scores currently followed by Silver with a -6.2 percent trend score.

Move Statistics:
Gold (-10.3 percent) vs Gold previous week (4.3 percent)
Silver (-6.2 percent) vs Silver previous week (-9.1 percent)
Copper (6.6 percent) vs Copper previous week (2.0 percent)
Platinum (0.9 percent) vs Platinum previous week (-3.1 percent)
Palladium (7.2 percent) vs Palladium previous week (10.2 percent)

Individual Markets:

Gold Comex Futures:

The Gold Comex Futures large speculator standing this week totaled a net position of 97,344 contracts in the data reported through Tuesday. This was a weekly decrease of -6,513 contracts from the previous week which had a total of 103,857 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 1.8 percent. The commercials are Bullish-Extreme with a score of 99.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 9.0 percent.

Gold Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	48.7	27.4	8.7
– Percent of Open Interest Shorts:	27.7	51.3	5.8
– Net Position:	97,344	-110,938	13,594
– Gross Longs:	225,932	126,950	40,556
– Gross Shorts:	128,588	237,888	26,962
– Long to Short Ratio:	1.8 to 1	0.5 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	1.8	99.1	9.0
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-10.3	8.9	6.3

Silver Comex Futures:

The Silver Comex Futures large speculator standing this week totaled a net position of -4,640 contracts in the data reported through Tuesday. This was a weekly advance of 8,144 contracts from the previous week which had a total of -12,784 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 9.0 percent. The commercials are Bullish-Extreme with a score of 92.8 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 3.8 percent.

Silver Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	39.4	38.2	16.1
– Percent of Open Interest Shorts:	42.8	40.1	10.8
– Net Position:	-4,640	-2,551	7,191
– Gross Longs:	53,373	51,822	21,808
– Gross Shorts:	58,013	54,373	14,617
– Long to Short Ratio:	0.9 to 1	1.0 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	9.0	92.8	3.8
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-6.2	6.2	-4.4

Copper Grade #1 Futures:

The Copper Grade #1 Futures large speculator standing this week totaled a net position of -18,986 contracts in the data reported through Tuesday. This was a weekly advance of 5,004 contracts from the previous week which had a total of -23,990 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 79.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 16.5 percent.

Copper Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	28.2	49.8	8.7
– Percent of Open Interest Shorts:	40.3	36.8	9.7
– Net Position:	-18,986	20,512	-1,526
– Gross Longs:	44,574	78,682	13,738
– Gross Shorts:	63,560	58,170	15,264
– Long to Short Ratio:	0.7 to 1	1.4 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	22.7	79.6	16.5
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	6.6	-5.3	-7.3

Platinum Futures:

The Platinum Futures large speculator standing this week totaled a net position of -1,879 contracts in the data reported through Tuesday. This was a weekly rise of 4,872 contracts from the previous week which had a total of -6,751 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 6.6 percent. The commercials are Bullish-Extreme with a score of 93.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 16.8 percent.

Platinum Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	44.6	38.6	11.0
– Percent of Open Interest Shorts:	47.3	41.6	5.3
– Net Position:	-1,879	-2,051	3,930
– Gross Longs:	30,552	26,473	7,567
– Gross Shorts:	32,431	28,524	3,637
– Long to Short Ratio:	0.9 to 1	0.9 to 1	2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	6.6	93.4	16.8
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	0.9	-0.4	-4.5

Palladium Futures:

The Palladium Futures large speculator standing this week totaled a net position of -1,273 contracts in the data reported through Tuesday. This was a weekly advance of 329 contracts from the previous week which had a total of -1,602 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 15.7 percent. The commercials are Bullish-Extreme with a score of 82.9 percent and the small traders (not shown in chart) are Bearish with a score of 33.3 percent.

Palladium Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	22.7	61.1	15.0
– Percent of Open Interest Shorts:	43.6	37.2	17.9
– Net Position:	-1,273	1,455	-182
– Gross Longs:	1,382	3,720	910
– Gross Shorts:	2,655	2,265	1,092
– Long to Short Ratio:	0.5 to 1	1.6 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	15.7	82.9	33.3
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.2	-7.2	0.1

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.

17 Sep

Weekly Bonds Speculator bets led by Fed Funds and Ultra 10-Year Treasury Bonds

By InvestMacro

Here are the latest charts and statistics for the Commitment of Traders (COT) reports data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday September 13th and shows a quick view of how large market participants (for-profit speculators and commercial traders) were positioned in the futures markets.

Weekly Speculator Changes led by Fed Funds and Ultra 10-Year Bonds

The COT bond market speculator bets were mixed evenly this week as four out of the eight bond markets we cover had higher positioning this week while four markets had lower contracts.

Leading the gains for the bond markets was the Fed Funds (29,311 contracts) with the 10-Year Bond (23,388 contracts), the Ultra 10-Year (15,926 contracts) and the Ultra US Bond (10,818 contracts) also showing positive weeks.

The bond market leading the declines in speculator bets this week was the Eurodollar (-94,668 contracts) with the 2-Year Bond (-31,439 contracts), the 5-Year Bond (-15,568 contracts) and the Long US Bond (-9,754 contracts) also recording lower bets on the week.

Data Snapshot of Bond Market Traders | Columns Legend

Sep-13-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
Eurodollar	9,494,359	13	-2,877,322	0	3,227,082	99	-349,760	27
FedFunds	1,585,427	48	47,961	46	-33,149	56	-14,812	22
2-Year	2,008,780	10	-358,181	10	436,181	100	-78,000	16
Long T-Bond	1,225,024	49	-94,971	54	66,528	34	28,443	75
10-Year	3,639,621	39	-352,889	19	462,613	77	-109,724	54
5-Year	3,982,527	50	-521,459	7	676,949	96	-155,490	38

US Treasury Bond at top of Bond Market Strength Scores

Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) showed that the US Treasury Bond (53.7 percent) led the bonds markets and is the only market above its 3-Year midpoint (above 50 percent). The Fed Funds (45.5 percent) and the Ultra US Treasury Bond (43.8 percent) come in as the next highest bond market in strength scores.

On the downside, the Eurodollar (0.2 percent), the 5-Year Bond (6.7 percent), the 2-Year Bond (9.9 percent) and the 10-Year Bond (18.8 percent) come in as the lowest markets and are all in bearish extreme positions (below 20 percent).

Strength Statistics:
Fed Funds (45.5 percent) vs Fed Funds previous week (41.9 percent)
2-Year Bond (9.9 percent) vs 2-Year Bond previous week (16.3 percent)
5-Year Bond (6.7 percent) vs 5-Year Bond previous week (9.0 percent)
10-Year Bond (18.8 percent) vs 10-Year Bond previous week (15.2 percent)
Ultra 10-Year Bond (27.0 percent) vs Ultra 10-Year Bond previous week (22.9 percent)
US Treasury Bond (53.7 percent) vs US Treasury Bond previous week (56.9 percent)
Ultra US Treasury Bond (43.8 percent) vs Ultra US Treasury Bond previous week (39.4 percent)
Eurodollar (0.2 percent) vs Eurodollar previous week (1.9 percent)

Strength Trends show 2-Year Bond on sharp downtrend

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that the Ultra 10-Year Bond (7.7 percent) leads the past six weeks trends for bonds this week. The Fed Funds (6.3 percent) and the Ultra US Treasury Bond (2.3 percent) are the only other positive movers in the latest trends data.

The 2-Year Bond (-52.2 percent) leads the downside trend scores currently while the next markets with lower trend scores were the 5-Year Bond (-28.1 percent), US Treasury Bond (-12.7 percent) and the 10-Year Bond (-8.7 percent).

Strength Trend Statistics:
Fed Funds (6.3 percent) vs Fed Funds previous week (-15.9 percent)
2-Year Bond (-52.2 percent) vs 2-Year Bond previous week (-47.8 percent)
5-Year Bond (-28.1 percent) vs 5-Year Bond previous week (-28.9 percent)
10-Year Bond (-8.7 percent) vs 10-Year Bond previous week (-26.8 percent)
Ultra 10-Year Bond (7.7 percent) vs Ultra 10-Year Bond previous week (2.1 percent)
US Treasury Bond (-12.7 percent) vs US Treasury Bond previous week (-12.6 percent)
Ultra US Treasury Bond (2.3 percent) vs Ultra US Treasury Bond previous week (-2.9 percent)
Eurodollar (-1.7 percent) vs Eurodollar previous week (-1.8 percent)

Individual Markets:

3-Month Eurodollars Futures:

The 3-Month Eurodollars large speculator standing this week totaled a net position of -2,877,322 contracts in the data reported through Tuesday. This was a weekly decrease of -94,668 contracts from the previous week which had a total of -2,782,654 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 Bearish-Extreme with a score of 0.2 percent. The commercials are Bullish-Extreme with a score of 98.7 percent and the small traders (not shown in chart) are Bearish with a score of 27.5 percent.

3-Month Eurodollars Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	6.4	71.4	4.4
– Percent of Open Interest Shorts:	36.8	37.4	8.1
– Net Position:	-2,877,322	3,227,082	-349,760
– Gross Longs:	612,295	6,777,674	415,183
– Gross Shorts:	3,489,617	3,550,592	764,943
– Long to Short Ratio:	0.2 to 1	1.9 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	0.2	98.7	27.5
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.7	1.6	0.3

30-Day Federal Funds Futures:

The 30-Day Federal Funds large speculator standing this week totaled a net position of 47,961 contracts in the data reported through Tuesday. This was a weekly increase of 29,311 contracts from the previous week which had a total of 18,650 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 Bearish with a score of 45.5 percent. The commercials are Bullish with a score of 55.9 percent and the small traders (not shown in chart) are Bearish with a score of 22.1 percent.

30-Day Federal Funds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	14.4	70.0	2.4
– Percent of Open Interest Shorts:	11.4	72.1	3.3
– Net Position:	47,961	-33,149	-14,812
– Gross Longs:	228,568	1,110,141	37,571
– Gross Shorts:	180,607	1,143,290	52,383
– Long to Short Ratio:	1.3 to 1	1.0 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	45.5	55.9	22.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	6.3	-5.7	-8.5

2-Year Treasury Note Futures:

The 2-Year Treasury Note large speculator standing this week totaled a net position of -358,181 contracts in the data reported through Tuesday. This was a weekly lowering of -31,439 contracts from the previous week which had a total of -326,742 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 9.9 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 16.1 percent.

2-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	5.0	85.6	7.1
– Percent of Open Interest Shorts:	22.8	63.9	11.0
– Net Position:	-358,181	436,181	-78,000
– Gross Longs:	100,196	1,720,285	142,700
– Gross Shorts:	458,377	1,284,104	220,700
– Long to Short Ratio:	0.2 to 1	1.3 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	9.9	100.0	16.1
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-52.2	48.1	2.2

5-Year Treasury Note Futures:

The 5-Year Treasury Note large speculator standing this week totaled a net position of -521,459 contracts in the data reported through Tuesday. This was a weekly decrease of -15,568 contracts from the previous week which had a total of -505,891 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 6.7 percent. The commercials are Bullish-Extreme with a score of 95.8 percent and the small traders (not shown in chart) are Bearish with a score of 38.3 percent.

5-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	6.9	84.5	7.5
– Percent of Open Interest Shorts:	20.0	67.5	11.4
– Net Position:	-521,459	676,949	-155,490
– Gross Longs:	276,668	3,365,483	299,655
– Gross Shorts:	798,127	2,688,534	455,145
– Long to Short Ratio:	0.3 to 1	1.3 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	6.7	95.8	38.3
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-28.1	30.0	-16.6

10-Year Treasury Note Futures:

The 10-Year Treasury Note large speculator standing this week totaled a net position of -352,889 contracts in the data reported through Tuesday. This was a weekly gain of 23,388 contracts from the previous week which had a total of -376,277 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 18.8 percent. The commercials are Bullish with a score of 76.8 percent and the small traders (not shown in chart) are Bullish with a score of 54.0 percent.

10-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	8.2	79.8	9.2
– Percent of Open Interest Shorts:	17.9	67.1	12.3
– Net Position:	-352,889	462,613	-109,724
– Gross Longs:	297,034	2,903,201	336,640
– Gross Shorts:	649,923	2,440,588	446,364
– Long to Short Ratio:	0.5 to 1	1.2 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	18.8	76.8	54.0
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-8.7	9.5	-5.4

Ultra 10-Year Notes Futures:

The Ultra 10-Year Notes large speculator standing this week totaled a net position of -6,786 contracts in the data reported through Tuesday. This was a weekly lift of 15,926 contracts from the previous week which had a total of -22,712 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 27.0 percent. The commercials are Bullish with a score of 69.8 percent and the small traders (not shown in chart) are Bullish with a score of 55.3 percent.

Ultra 10-Year Notes Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	9.3	79.0	9.2
– Percent of Open Interest Shorts:	9.8	70.6	17.0
– Net Position:	-6,786	114,915	-108,129
– Gross Longs:	128,433	1,087,797	126,105
– Gross Shorts:	135,219	972,882	234,234
– Long to Short Ratio:	0.9 to 1	1.1 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	27.0	69.8	55.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.7	-9.6	5.3

US Treasury Bonds Futures:

The US Treasury Bonds large speculator standing this week totaled a net position of -94,971 contracts in the data reported through Tuesday. This was a weekly fall of -9,754 contracts from the previous week which had a total of -85,217 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 Bullish with a score of 53.7 percent. The commercials are Bearish with a score of 34.3 percent and the small traders (not shown in chart) are Bullish with a score of 75.2 percent.

US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	6.0	76.6	14.0
– Percent of Open Interest Shorts:	13.8	71.1	11.7
– Net Position:	-94,971	66,528	28,443
– Gross Longs:	73,918	937,965	171,546
– Gross Shorts:	168,889	871,437	143,103
– Long to Short Ratio:	0.4 to 1	1.1 to 1	1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	53.7	34.3	75.2
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-12.7	8.3	12.5

Ultra US Treasury Bonds Futures:

The Ultra US Treasury Bonds large speculator standing this week totaled a net position of -346,597 contracts in the data reported through Tuesday. This was a weekly gain of 10,818 contracts from the previous week which had a total of -357,415 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 43.8 percent. The commercials are Bullish with a score of 67.0 percent and the small traders (not shown in chart) are Bullish with a score of 54.1 percent.

Ultra US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	5.8	82.1	10.8
– Percent of Open Interest Shorts:	30.9	59.5	8.2
– Net Position:	-346,597	310,612	35,985
– Gross Longs:	79,375	1,129,862	148,787
– Gross Shorts:	425,972	819,250	112,802
– Long to Short Ratio:	0.2 to 1	1.4 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	43.8	67.0	54.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	2.3	1.3	-5.9

Article By InvestMacro – Receive our weekly COT Reports by Email

Bonds COT Updates Financial News investing

17 Sep

Weekly Soft Commodities Speculator bets led higher by Soybeans, Sugar and Corn

By InvestMacro

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 September 13th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led higher by Soybeans, Sugar and Corn

COT soft commodities speculator bets were mostly higher this week as eight out of the eleven soft commodities markets we cover had higher positioning this week while XX markets had lower contracts.

Leading the gains for soft commodities markets was Soybeans (10,859 contracts) and Sugar (10,559 contracts) with Corn (8,022 contracts), Soybean Meal (7,042 contracts), Soybean Oil (5,799 contracts), Live Cattle (5,590 contracts), Lean Hogs (2,821 contracts) and Wheat (1,631 contracts) also showing a positive weeks.

The softs markets leading the declines in speculator bets this week were Cocoa (-10,338 contracts) and Coffee (-4,901 contracts) with Cotton (-2,672 contracts) also registering lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Sep-13-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,498,059	3	227,057	4	-244,007	98	16,950	28
Gold	463,674	3	97,344	2	-110,938	99	13,594	9
Silver	135,530	3	-4,640	9	-2,551	93	7,191	4
Copper	157,900	0	-18,986	23	20,512	80	-1,526	16
Palladium	6,085	1	-1,273	16	1,455	83	-182	33
Platinum	68,574	36	-1,879	7	-2,051	93	3,930	17
Natural Gas	977,116	4	-145,715	35	110,794	66	34,921	63
Brent	164,415	12	-39,023	46	34,919	51	4,104	65
Heating Oil	290,916	31	16,064	66	-31,353	38	15,289	51
Soybeans	643,018	15	92,110	42	-61,424	68	-30,686	19
Corn	1,310,411	6	294,569	68	-234,179	39	-60,390	8
Coffee	197,657	10	42,267	75	-44,360	29	2,093	19
Sugar	751,873	9	68,330	51	-79,426	53	11,096	22
Wheat	287,046	0	-8,128	8	12,977	78	-4,849	85

Strength Scores

Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) showed that Soybean Meal (91.0 percent) leads the soft commodity markets and is in a bullish extreme position (above 80 percent). Coffee (75.4 percent) and Corn (67.7 percent) come in as the next highest soft commodity markets in strength scores.

On the downside, Wheat (8.5 percent) and Cocoa (11.0 percent) come in as the lowest strength scores are both in bearish extreme levels (below 20 percent).

Strength Statistics:
Corn (67.7 percent) vs Corn previous week (66.6 percent)
Sugar (50.7 percent) vs Sugar previous week (48.5 percent)
Coffee (75.4 percent) vs Coffee previous week (79.6 percent)
Soybeans (41.7 percent) vs Soybeans previous week (38.3 percent)
Soybean Oil (40.4 percent) vs Soybean Oil previous week (36.4 percent)
Soybean Meal (91.0 percent) vs Soybean Meal previous week (87.1 percent)
Live Cattle (65.2 percent) vs Live Cattle previous week (58.1 percent)
Lean Hogs (49.4 percent) vs Lean Hogs previous week (46.3 percent)
Cotton (49.3 percent) vs Cotton previous week (51.2 percent)
Cocoa (11.0 percent) vs Cocoa previous week (21.3 percent)
Wheat (8.5 percent) vs Wheat previous week (6.4 percent)

Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that Live Cattle (39.5 percent) leads the past six weeks trends for soft commodity markets this week. Soybean Oil (16.6 percent), Coffee (13.0 percent) and Corn (11.9 percent) fill out the next highest top movers in the latest trends data.

Wheat (-9.6 percent) leads the downside trend scores currently while the next market with lower trend scores was Cocoa (-3.9 percent) followed by Lean Hogs (-0.6 percent) and Soybeans (-0.1 percent).

Strength Trend Statistics:
Corn (11.9 percent) vs Corn previous week (12.8 percent)
Sugar (7.0 percent) vs Sugar previous week (-1.3 percent)
Coffee (13.0 percent) vs Coffee previous week (16.0 percent)
Soybeans (-0.1 percent) vs Soybeans previous week (-1.2 percent)
Soybean Oil (16.6 percent) vs Soybean Oil previous week (19.1 percent)
Soybean Meal (2.5 percent) vs Soybean Meal previous week (0.3 percent)
Live Cattle (39.5 percent) vs Live Cattle previous week (33.7 percent)
Lean Hogs (-0.6 percent) vs Lean Hogs previous week (1.0 percent)
Cotton (7.5 percent) vs Cotton previous week (8.0 percent)
Cocoa (-3.9 percent) vs Cocoa previous week (1.0 percent)
Wheat (-9.6 percent) vs Wheat previous week (-12.7 percent)

Individual Markets:

CORN Futures:

The CORN large speculator standing this week reached a net position of 294,569 contracts in the data reported through Tuesday. This was a weekly boost of 8,022 contracts from the previous week which had a total of 286,547 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 67.7 percent. The commercials are Bearish with a score of 38.5 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 8.3 percent.

CORN Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.4	44.9	8.9
– Percent of Open Interest Shorts:	9.9	62.8	13.5
– Net Position:	294,569	-234,179	-60,390
– Gross Longs:	424,311	588,143	116,795
– Gross Shorts:	129,742	822,322	177,185
– Long to Short Ratio:	3.3 to 1	0.7 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	67.7	38.5	8.3
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	11.9	-12.1	-4.9

SUGAR Futures:

The SUGAR large speculator standing this week reached a net position of 68,330 contracts in the data reported through Tuesday. This was a weekly boost of 10,559 contracts from the previous week which had a total of 57,771 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 50.7 percent. The commercials are Bullish with a score of 53.1 percent and the small traders (not shown in chart) are Bearish with a score of 21.6 percent.

SUGAR Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.3	54.1	9.0
– Percent of Open Interest Shorts:	15.2	64.6	7.5
– Net Position:	68,330	-79,426	11,096
– Gross Longs:	182,761	406,409	67,735
– Gross Shorts:	114,431	485,835	56,639
– Long to Short Ratio:	1.6 to 1	0.8 to 1	1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	50.7	53.1	21.6
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.0	-8.4	12.7

COFFEE Futures:

The COFFEE large speculator standing this week reached a net position of 42,267 contracts in the data reported through Tuesday. This was a weekly decrease of -4,901 contracts from the previous week which had a total of 47,168 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 75.4 percent. The commercials are Bearish with a score of 29.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 18.7 percent.

COFFEE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	27.7	47.4	4.7
– Percent of Open Interest Shorts:	6.3	69.8	3.6
– Net Position:	42,267	-44,360	2,093
– Gross Longs:	54,749	93,613	9,237
– Gross Shorts:	12,482	137,973	7,144
– 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):	75.4	29.0	18.7
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	13.0	-14.9	12.9

SOYBEANS Futures:

The SOYBEANS large speculator standing this week reached a net position of 92,110 contracts in the data reported through Tuesday. This was a weekly rise of 10,859 contracts from the previous week which had a total of 81,251 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 41.7 percent. The commercials are Bullish with a score of 67.8 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 19.2 percent.

SOYBEANS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	25.4	54.2	6.3
– Percent of Open Interest Shorts:	11.1	63.8	11.0
– Net Position:	92,110	-61,424	-30,686
– Gross Longs:	163,326	348,795	40,216
– Gross Shorts:	71,216	410,219	70,902
– Long to Short Ratio:	2.3 to 1	0.9 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	41.7	67.8	19.2
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-0.1	1.3	-6.4

SOYBEAN OIL Futures:

The SOYBEAN OIL large speculator standing this week reached a net position of 54,581 contracts in the data reported through Tuesday. This was a weekly gain of 5,799 contracts from the previous week which had a total of 48,782 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 40.4 percent. The commercials are Bullish with a score of 59.7 percent and the small traders (not shown in chart) are Bullish with a score of 50.2 percent.

SOYBEAN OIL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	21.7	51.0	8.1
– Percent of Open Interest Shorts:	8.0	67.2	5.6
– Net Position:	54,581	-64,417	9,836
– Gross Longs:	86,257	203,170	32,312
– Gross Shorts:	31,676	267,587	22,476
– Long to Short Ratio:	2.7 to 1	0.8 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	40.4	59.7	50.2
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	16.6	-20.6	32.1

SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week reached a net position of 114,177 contracts in the data reported through Tuesday. This was a weekly lift of 7,042 contracts from the previous week which had a total of 107,135 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 91.0 percent. The commercials are Bearish-Extreme with a score of 11.3 percent and the small traders (not shown in chart) are Bullish with a score of 55.1 percent.

SOYBEAN MEAL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	33.2	42.3	12.8
– Percent of Open Interest Shorts:	3.4	78.2	6.6
– Net Position:	114,177	-137,766	23,589
– Gross Longs:	127,398	162,437	48,950
– Gross Shorts:	13,221	300,203	25,361
– Long to Short Ratio:	9.6 to 1	0.5 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	91.0	11.3	55.1
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	2.5	-2.9	6.2

LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week reached a net position of 68,420 contracts in the data reported through Tuesday. This was a weekly lift of 5,590 contracts from the previous week which had a total of 62,830 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 65.2 percent. The commercials are Bearish with a score of 27.0 percent and the small traders (not shown in chart) are Bullish with a score of 66.5 percent.

LIVE CATTLE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	39.0	32.8	10.7
– Percent of Open Interest Shorts:	16.1	53.9	12.5
– Net Position:	68,420	-62,992	-5,428
– Gross Longs:	116,375	97,896	31,907
– Gross Shorts:	47,955	160,888	37,335
– Long to Short Ratio:	2.4 to 1	0.6 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	65.2	27.0	66.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	39.5	-35.6	-20.4

LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week reached a net position of 39,162 contracts in the data reported through Tuesday. This was a weekly rise of 2,821 contracts from the previous week which had a total of 36,341 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 49.4 percent. The commercials are Bullish with a score of 57.7 percent and the small traders (not shown in chart) are Bullish with a score of 50.3 percent.

LEAN HOGS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	38.0	36.7	9.4
– Percent of Open Interest Shorts:	18.3	51.9	13.9
– Net Position:	39,162	-30,253	-8,909
– Gross Longs:	75,480	72,966	18,664
– Gross Shorts:	36,318	103,219	27,573
– Long to Short Ratio:	2.1 to 1	0.7 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	49.4	57.7	50.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-0.6	1.9	-5.5

COTTON Futures:

The COTTON large speculator standing this week reached a net position of 48,040 contracts in the data reported through Tuesday. This was a weekly reduction of -2,672 contracts from the previous week which had a total of 50,712 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 49.3 percent. The commercials are Bullish with a score of 50.6 percent and the small traders (not shown in chart) are Bullish with a score of 53.3 percent.

COTTON Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	35.8	45.6	6.9
– Percent of Open Interest Shorts:	12.9	71.7	3.7
– Net Position:	48,040	-54,685	6,645
– Gross Longs:	74,992	95,659	14,436
– Gross Shorts:	26,952	150,344	7,791
– Long to Short Ratio:	2.8 to 1	0.6 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	49.3	50.6	53.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.5	-10.2	31.9

COCOA Futures:

The COCOA large speculator standing this week reached a net position of -5,874 contracts in the data reported through Tuesday. This was a weekly reduction of -10,338 contracts from the previous week which had a total of 4,464 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 11.0 percent. The commercials are Bullish-Extreme with a score of 89.4 percent and the small traders (not shown in chart) are Bearish with a score of 36.1 percent.

COCOA Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.8	46.6	4.9
– Percent of Open Interest Shorts:	34.7	46.0	3.6
– Net Position:	-5,874	1,917	3,957
– Gross Longs:	98,670	140,388	14,705
– Gross Shorts:	104,544	138,471	10,748
– Long to Short Ratio:	0.9 to 1	1.0 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	11.0	89.4	36.1
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-3.9	1.8	20.7

WHEAT Futures:

The WHEAT large speculator standing this week reached a net position of -8,128 contracts in the data reported through Tuesday. This was a weekly increase of 1,631 contracts from the previous week which had a total of -9,759 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 Bearish-Extreme with a score of 8.5 percent. The commercials are Bullish with a score of 78.1 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 85.2 percent.

WHEAT Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	30.7	41.5	9.8
– Percent of Open Interest Shorts:	33.5	37.0	11.5
– Net Position:	-8,128	12,977	-4,849
– Gross Longs:	88,091	119,219	28,202
– Gross Shorts:	96,219	106,242	33,051
– Long to Short Ratio:	0.9 to 1	1.1 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	8.5	78.1	85.2
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.6	3.0	27.6

Article By InvestMacro – Receive our weekly COT Reports by Email

*COT Reports: 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.

COT Updates Financial News investing Soft Commodities

17 Sep

Natural Gas and Gasoline lead the COT Energy Speculator bets lower

By InvestMacro

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 September 13th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led lower by Natural Gas and Gasoline

The COT energy market speculator bets were sharply lower this week as just one out of the six energy markets we cover had higher positioning this week while the other five markets had lower contracts.

Leading the gains for energy markets was WTI Crude Oil with a total gain on the week of 12,579 contracts.

The energy markets leading the declines in speculator bets this week were Natural Gas (-7,077 contracts), Gasoline (-3,574 contracts) and Brent Crude Oil (-2,635 contracts) with Heating Oil (-1,796 contracts) and Bloomberg Commodity Index (-14 contracts) also having lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Sep-13-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,498,059	3	227,057	4	-244,007	98	16,950	28
Gold	463,674	3	97,344	2	-110,938	99	13,594	9
Silver	135,530	3	-4,640	9	-2,551	93	7,191	4
Copper	157,900	0	-18,986	23	20,512	80	-1,526	16
Palladium	6,085	1	-1,273	16	1,455	83	-182	33
Platinum	68,574	36	-1,879	7	-2,051	93	3,930	17
Natural Gas	977,116	4	-145,715	35	110,794	66	34,921	63
Brent	164,415	12	-39,023	46	34,919	51	4,104	65
Heating Oil	290,916	31	16,064	66	-31,353	38	15,289	51
Soybeans	643,018	15	92,110	42	-61,424	68	-30,686	19
Corn	1,310,411	6	294,569	68	-234,179	39	-60,390	8
Coffee	197,657	10	42,267	75	-44,360	29	2,093	19
Sugar	751,873	9	68,330	51	-79,426	53	11,096	22
Wheat	287,046	0	-8,128	8	12,977	78	-4,849	85

Strength Scores

Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) showed that the Bloomberg Commodity Index (67.6 percent) and Heating Oil (66.1 percent) lead the energy markets. These two markets are the only ones in energy that are above the 3-year midpoint at the current time (above 50 percent).

On the downside, WTI Crude Oil (4.3 percent) comes in at the lowest strength level followed by Gasoline (17.6 percent) and both are in bearish extreme readings (below 20 percent).

Strength Statistics:
WTI Crude Oil (4.3 percent) vs WTI Crude Oil previous week (1.0 percent)
Brent Crude Oil (45.7 percent) vs Brent Crude Oil previous week (50.1 percent)
Natural Gas (34.8 percent) vs Natural Gas previous week (37.0 percent)
Gasoline (17.6 percent) vs Gasoline previous week (21.2 percent)
Heating Oil (66.1 percent) vs Heating Oil previous week (68.7 percent)
Bloomberg Commodity Index (67.6 percent) vs Bloomberg Commodity Index previous week (67.6 percent)

Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that the Bloomberg Commodity Index (8.4 percent) leads the past six weeks trends for energy this week and is the only positive mover in the latest trends data.

Brent Crude Oil (-10.5 percent) leads the downside trend scores currently and is followed by Heating Oil (-8.8 percent), WTI Crude Oil (-7.0 percent), Natural Gas (-6.2 percent) and Gasoline (-5.2 percent).

Strength Trend Statistics:
WTI Crude Oil (-7.0 percent) vs WTI Crude Oil previous week (-11.8 percent)
Brent Crude Oil (-10.5 percent) vs Brent Crude Oil previous week (8.6 percent)
Natural Gas (-6.2 percent) vs Natural Gas previous week (-6.1 percent)
Gasoline (-5.2 percent) vs Gasoline previous week (3.8 percent)
Heating Oil (-8.8 percent) vs Heating Oil previous week (-1.2 percent)
Bloomberg Commodity Index (8.4 percent) vs Bloomberg Commodity Index previous week (20.1 percent)

Individual Markets:

WTI Crude Oil Futures:

The WTI Crude Oil Futures large speculator standing this week reached a net position of 227,057 contracts in the data reported through Tuesday. This was a weekly gain of 12,579 contracts from the previous week which had a total of 214,478 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 4.3 percent. The commercials are Bullish-Extreme with a score of 98.4 percent and the small traders (not shown in chart) are Bearish with a score of 28.3 percent.

WTI Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	22.7	40.1	5.1
– Percent of Open Interest Shorts:	7.6	56.4	3.9
– Net Position:	227,057	-244,007	16,950
– Gross Longs:	340,716	600,618	75,790
– Gross Shorts:	113,659	844,625	58,840
– Long to Short Ratio:	3.0 to 1	0.7 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	4.3	98.4	28.3
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.0	7.8	-3.6

Brent Crude Oil Futures:

The Brent Crude Oil Futures large speculator standing this week reached a net position of -39,023 contracts in the data reported through Tuesday. This was a weekly fall of -2,635 contracts from the previous week which had a total of -36,388 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 45.7 percent. The commercials are Bullish with a score of 51.3 percent and the small traders (not shown in chart) are Bullish with a score of 64.7 percent.

Brent Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	16.7	53.7	5.8
– Percent of Open Interest Shorts:	40.4	32.5	3.3
– Net Position:	-39,023	34,919	4,104
– Gross Longs:	27,455	88,321	9,542
– Gross Shorts:	66,478	53,402	5,438
– Long to Short Ratio:	0.4 to 1	1.7 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	45.7	51.3	64.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-10.5	5.1	42.7

Natural Gas Futures:

The Natural Gas Futures large speculator standing this week reached a net position of -145,715 contracts in the data reported through Tuesday. This was a weekly lowering of -7,077 contracts from the previous week which had a total of -138,638 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 34.8 percent. The commercials are Bullish with a score of 65.8 percent and the small traders (not shown in chart) are Bullish with a score of 62.8 percent.

Natural Gas Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	16.0	42.8	6.9
– Percent of Open Interest Shorts:	30.9	31.5	3.3
– Net Position:	-145,715	110,794	34,921
– Gross Longs:	155,945	418,580	67,120
– Gross Shorts:	301,660	307,786	32,199
– Long to Short Ratio:	0.5 to 1	1.4 to 1	2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	34.8	65.8	62.8
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-6.2	7.3	-5.8

Gasoline Blendstock Futures:

The Gasoline Blendstock Futures large speculator standing this week reached a net position of 45,592 contracts in the data reported through Tuesday. This was a weekly lowering of -3,574 contracts from the previous week which had a total of 49,166 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 17.6 percent. The commercials are Bullish-Extreme with a score of 87.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 14.9 percent.

Nasdaq Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	30.5	48.6	7.2
– Percent of Open Interest Shorts:	12.2	67.0	7.1
– Net Position:	45,592	-45,909	317
– Gross Longs:	76,103	121,491	18,029
– Gross Shorts:	30,511	167,400	17,712
– Long to Short Ratio:	2.5 to 1	0.7 to 1	1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	17.6	87.3	14.9
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-5.2	10.9	-41.0

#2 Heating Oil NY-Harbor Futures:

The #2 Heating Oil NY-Harbor Futures large speculator standing this week reached a net position of 16,064 contracts in the data reported through Tuesday. This was a weekly reduction of -1,796 contracts from the previous week which had a total of 17,860 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 66.1 percent. The commercials are Bearish with a score of 37.9 percent and the small traders (not shown in chart) are Bullish with a score of 51.3 percent.

Heating Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	14.1	55.0	14.2
– Percent of Open Interest Shorts:	8.6	65.8	9.0
– Net Position:	16,064	-31,353	15,289
– Gross Longs:	41,005	160,000	41,349
– Gross Shorts:	24,941	191,353	26,060
– Long to Short Ratio:	1.6 to 1	0.8 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	66.1	37.9	51.3
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-8.8	4.3	6.8

Bloomberg Commodity Index Futures:

The Bloomberg Commodity Index Futures large speculator standing this week reached a net position of -10,434 contracts in the data reported through Tuesday. This was a weekly decline of -14 contracts from the previous week which had a total of -10,420 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 67.6 percent. The commercials are Bearish with a score of 32.2 percent and the small traders (not shown in chart) are Bearish with a score of 21.8 percent.

Bloomberg Index Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	26.9	70.4	0.7
– Percent of Open Interest Shorts:	42.2	55.6	0.2
– Net Position:	-10,434	10,122	312
– Gross Longs:	18,402	48,090	447
– Gross Shorts:	28,836	37,968	135
– Long to Short Ratio:	0.6 to 1	1.3 to 1	3.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	67.6	32.2	21.8
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	8.4	-8.7	3.1

Article By InvestMacro – Receive our weekly COT Reports by Email

COT Updates Energy Financial News investing

17 Sep

COT Stock Market Speculator bets sharply down led by S&P500 Mini & the Nasdaq Mini

By InvestMacro

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 September 13th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led lower by the S&P500 Mini & the Nasdaq Mini

The COT stock market speculator bets had a down week this week as all of the seven stock markets we cover had lower positioning.

The stock markets leading the declines in speculator bets this week were the S&P500 Mini (-42,284 contracts) with the Nasdaq Mini (-10,240 contracts), VIX (-9,792 contracts), MSCI EAFE Mini (-6,664 contracts), Russell 2000 Mini (-3,547 contracts), Dow Jones Industrial Average Mini (-2,078 contracts) and the Nikkei 225 USD (-78 contracts) also recording lower bets for the week.

Overall, the stock markets we cover all have current negative or bearish net positioning with the exception of the Nasdaq Mini.

Highlighting the weakness in sentiment is the S&P500 Mini which has hit its lowest speculative positioning (-281,004 contracts currently) in the past 117 weeks, dating back to June of 2020. The S&P500 Mini speculator positions have now been below the -200,000 contract threshold for ten straight weeks. The S&P Mini has been in a bearish level for thirteen consecutive weeks since turning bearish on June 21st.

Data Snapshot of Stock Market Traders | Columns Legend

Sep-13-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
S&P500-Mini	2,603,046	20	-281,004	4	370,284	100	-89,280	8
Nikkei 225	14,151	10	-4,641	55	2,949	44	1,692	50
Nasdaq-Mini	314,969	80	11,806	82	15,545	36	-27,351	0
DowJones-Mini	92,577	59	-11,686	23	13,522	77	-1,836	29
VIX	348,672	41	-98,526	60	105,680	41	-7,154	57
Nikkei 225 Yen	46,260	23	1,033	37	21,754	80	-22,787	28

Nasdaq-Mini, VIX and Nikkei lead the Strength Scores

Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) showed that the Nasdaq-Mini continues to leads the stocks with an 81.6 percent score. The Nasdaq strength score in bullish extreme positions (above 80 percent) but has been sliding over the past few weeks. The VIX (59.9 percent) and the Nikkei USD (55.4 percent) come in as the next highest stocks market in strength scores and their scores are above the 3-year midpoints (50 percent).

On the downside, the S&P500-Mini (4.1 percent) comes in at the lowest strength level followed by the Russell2000-Mini (11.7 percent) and both markets are in a bearish extreme position (below 20 percent).

Strength Statistics:
VIX (59.9 percent) vs VIX previous week (64.8 percent)
S&P500-Mini (4.1 percent) vs S&P500-Mini previous week (12.0 percent)
DowJones-Mini (22.7 percent) vs DowJones-Mini previous week (25.5 percent)
Nasdaq-Mini (81.6 percent) vs Nasdaq-Mini previous week (87.3 percent)
Russell2000-Mini (11.7 percent) vs Russell2000-Mini previous week (13.7 percent)
Nikkei USD (55.4 percent) vs Nikkei USD previous week (55.8 percent)
EAFE-Mini (20.5 percent) vs EAFE-Mini previous week (27.8 percent)

EAFE, Russell 2000 and Dow Jones lead the Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that the EAFE-Mini (15.4 percent) and the Russell2000-Mini (11.7 percent) lead the past six weeks trends for stocks this week. The DowJones-Mini (9.0 percent) and the VIX (0.2 percent) fill out the other positive movers in the latest trends data.

The Nikkei USD (-12.8 percent) leads the downside trend scores currently while the next market with lower trend scores were the S&P500-Mini (-9.1 percent) followed by the Nasdaq-Mini (-7.2 percent).

Strength Trend Statistics:
VIX (0.2 percent) vs VIX previous week (1.9 percent)
S&P500-Mini (-9.1 percent) vs S&P500-Mini previous week (-0.2 percent)
DowJones-Mini (9.0 percent) vs DowJones-Mini previous week (15.4 percent)
Nasdaq-Mini (-7.2 percent) vs Nasdaq-Mini previous week (-5.5 percent)
Russell2000-Mini (11.7 percent) vs Russell2000-Mini previous week (5.4 percent)
Nikkei USD (-12.8 percent) vs Nikkei USD previous week (-13.4 percent)
EAFE-Mini (15.4 percent) vs EAFE-Mini previous week (6.6 percent)

Individual Markets:

VIX Volatility Futures:

The VIX Volatility large speculator standing this week reached a net position of -98,526 contracts in the data reported through Tuesday. This was a weekly reduction of -9,792 contracts from the previous week which had a total of -88,734 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 59.9 percent. The commercials are Bearish with a score of 40.6 percent and the small traders (not shown in chart) are Bullish with a score of 56.7 percent.

VIX Volatility Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	12.2	58.9	8.3
– Percent of Open Interest Shorts:	40.4	28.6	10.3
– Net Position:	-98,526	105,680	-7,154
– Gross Longs:	42,480	205,325	28,804
– Gross Shorts:	141,006	99,645	35,958
– Long to Short Ratio:	0.3 to 1	2.1 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	59.9	40.6	56.7
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	0.2	-0.1	-0.1

S&P500 Mini Futures:

The S&P500 Mini large speculator standing this week reached a net position of -281,004 contracts in the data reported through Tuesday. This was a weekly fall of -42,284 contracts from the previous week which had a total of -238,720 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 4.1 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 7.6 percent.

S&P500 Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	9.0	76.3	10.9
– Percent of Open Interest Shorts:	19.8	62.1	14.3
– Net Position:	-281,004	370,284	-89,280
– Gross Longs:	234,795	1,986,386	282,571
– Gross Shorts:	515,799	1,616,102	371,851
– Long to Short Ratio:	0.5 to 1	1.2 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	4.1	100.0	7.6
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.1	10.5	-5.9

Dow Jones Mini Futures:

The Dow Jones Mini large speculator standing this week reached a net position of -11,686 contracts in the data reported through Tuesday. This was a weekly decline of -2,078 contracts from the previous week which had a total of -9,608 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 Bearish with a score of 22.7 percent. The commercials are Bullish with a score of 77.1 percent and the small traders (not shown in chart) are Bearish with a score of 28.6 percent.

Dow Jones Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	22.3	57.6	13.0
– Percent of Open Interest Shorts:	34.9	43.0	15.0
– Net Position:	-11,686	13,522	-1,836
– Gross Longs:	20,662	53,298	12,067
– Gross Shorts:	32,348	39,776	13,903
– Long to Short Ratio:	0.6 to 1	1.3 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	22.7	77.1	28.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	9.0	-12.6	14.5

Nasdaq Mini Futures:

The Nasdaq Mini large speculator standing this week reached a net position of 11,806 contracts in the data reported through Tuesday. This was a weekly decrease of -10,240 contracts from the previous week which had a total of 22,046 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 Bullish-Extreme with a score of 81.6 percent. The commercials are Bearish with a score of 36.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 0.0 percent.

Nasdaq Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.9	58.2	12.3
– Percent of Open Interest Shorts:	20.2	53.3	21.0
– Net Position:	11,806	15,545	-27,351
– Gross Longs:	75,279	183,440	38,679
– Gross Shorts:	63,473	167,895	66,030
– Long to Short Ratio:	1.2 to 1	1.1 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	81.6	36.1	0.0
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.2	15.2	-22.4

Russell 2000 Mini Futures:

The Russell 2000 Mini large speculator standing this week reached a net position of -99,152 contracts in the data reported through Tuesday. This was a weekly lowering of -3,547 contracts from the previous week which had a total of -95,605 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 11.7 percent. The commercials are Bullish-Extreme with a score of 91.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 1.1 percent.

Russell 2000 Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	6.4	86.3	4.5
– Percent of Open Interest Shorts:	23.3	67.8	6.0
– Net Position:	-99,152	107,746	-8,594
– Gross Longs:	37,156	504,080	26,407
– Gross Shorts:	136,308	396,334	35,001
– Long to Short Ratio:	0.3 to 1	1.3 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	11.7	91.6	1.1
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	11.7	-8.2	-15.5

Nikkei Stock Average (USD) Futures:

The Nikkei Stock Average (USD) large speculator standing this week reached a net position of -4,641 contracts in the data reported through Tuesday. This was a weekly lowering of -78 contracts from the previous week which had a total of -4,563 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 55.4 percent. The commercials are Bearish with a score of 44.4 percent and the small traders (not shown in chart) are Bearish with a score of 49.6 percent.

Nikkei Stock Average Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	12.2	53.3	34.2
– Percent of Open Interest Shorts:	45.0	32.5	22.3
– Net Position:	-4,641	2,949	1,692
– Gross Longs:	1,729	7,548	4,844
– Gross Shorts:	6,370	4,599	3,152
– Long to Short Ratio:	0.3 to 1	1.6 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	55.4	44.4	49.6
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-12.8	-1.3	37.0

MSCI EAFE Mini Futures:

The MSCI EAFE Mini large speculator standing this week reached a net position of -17,432 contracts in the data reported through Tuesday. This was a weekly decrease of -6,664 contracts from the previous week which had a total of -10,768 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 20.5 percent. The commercials are Bullish-Extreme with a score of 80.4 percent and the small traders (not shown in chart) are Bearish with a score of 34.7 percent.

MSCI EAFE Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	4.2	90.0	5.2
– Percent of Open Interest Shorts:	7.8	86.8	4.8
– Net Position:	-17,432	15,627	1,805
– Gross Longs:	20,356	438,607	25,389
– Gross Shorts:	37,788	422,980	23,584
– Long to Short Ratio:	0.5 to 1	1.0 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	20.5	80.4	34.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	15.4	-11.4	-30.2

Article By InvestMacro – Receive our weekly COT Reports by Email

COT Updates Financial News investing Stock Market News

11 Sep

COT Currency Speculator Weekly Changes led higher by Brazilian Real & Euro bets

By InvestMacro

The latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC) showed that large forex speculators raised their bets for most of the currency futures markets. The latest COT data for Week 36 is updated through Tuesday September 6th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the euro will decline versus the dollar.

Weekly Speculator Changes led higher by Brazilian Real & Euro bets

The COT currency market speculator bets were slightly higher this week as six out of the eleven currency markets we cover had higher positioning while the other five markets had lower speculator contracts.

Leading the gains for the currency markets was the Brazilian real (22,001 contracts) and the Euro (11,327 contracts) with the Australian dollar (893 contracts), US Dollar Index (592 contracts), New Zealand dollar (378 contracts) and the Bitcoin (26 contracts) having positive weeks.

The currencies leading the declines in speculator bets this week were the British pound sterling (-21,262 contracts) and the Japanese yen (-16,658 contracts) with the Canadian dollar (-6,269 contracts), Swiss franc (-1,775 contracts) and the Mexican peso (-430 contracts) also registering lower bets on the week.

Highlighting the COT currency changes this week is the sharp gain in the Brazilian Real speculator positions this week. Speculators boosted the Brazilian currency bets by the largest weekly amount since March and have increased bullish bets in six out of the past eight weeks. The overall speculator standing now sits at the most bullish level in ten weeks, dating back to June 28th. The Real futures and spot prices have been range-bound in trading and are expected to stay that way as a presidential election comes up on October 2nd.

The Euro currency bets this week jumped by the most in fourteen weeks (+11,327 contracts) as the European Central Bank raised its benchmark interest rate by 75 basis points on Thursday. This week’s gain broke a streak of three weeks of speculator bet declines. The overall speculator positioning is relatively tame at a level of just -36,349 contracts despite the Euro currency’s exchange rate versus the US Dollar. The EURUSD is currently trading right near parity (1.0048) and not too far from 20-year lows. Comparatively, when the Euro speculator positions were last consistently near or below -100,000 net contracts in 2019, the EURUSD was trading above the 1.20 exchange rate. The outlook for the European economy is not looking great as a low growth environment could combine with a potential energy crisis shaping up for this winter (due to the Russia-Ukraine war) – so it will be interesting to see if speculator positioning follows the Euro lower or if the exchange rate is near a bottom.

Data Snapshot of Forex Market Traders | Columns Legend

Sep-06-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
USD Index	61,662	92	36,107	85	-38,458	15	2,351	42
EUR	721,678	91	-36,349	24	19,610	82	16,739	2
GBP	280,937	100	-50,432	29	69,958	78	-19,526	6
JPY	281,266	100	-58,189	33	77,669	74	-19,480	14
CHF	48,226	37	-4,037	46	16,867	70	-12,830	14
CAD	160,567	37	17,910	59	-18,916	53	1,006	32
AUD	178,232	66	-56,500	32	63,784	66	-7,284	35
NZD	46,796	37	-2,746	67	6,500	40	-3,754	8
MXN	199,161	49	-29,460	15	25,310	83	4,150	61
RUB	20,930	4	7,543	31	-7,150	69	-393	24
BRL	50,005	40	30,860	81	-32,482	20	1,622	84
Bitcoin	15,337	90	1,322	100	-1,301	0	-21	12

Bitcoin, US Dollar Index & Brazilian Real at top of Strength Scores

Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) showed that Bitcoin (100.0 percent), the US Dollar Index (85.2 percent) and the Brazilian Real (80.7 percent) lead the currency markets at the top of their respective ranges and are all in bullish extreme positions with scores above 80 percent. The New Zealand Dollar (66.7 percent) and Canadian Dollar (59.5 percent) come in as the next highest in the currency markets in strength scores.

On the downside, the Mexican Peso (14.8 percent) comes in at the lowest strength level and is in a bearish extreme level below 20 percent. The next lowest strength scores are for the EuroFX (23.8 percent), the British Pound Sterling (29.2 percent) and the Australian Dollar (32.4 percent).

Strength Statistics:
US Dollar Index (85.2 percent) vs US Dollar Index previous week (84.2 percent)
EuroFX (23.8 percent) vs EuroFX previous week (20.4 percent)
British Pound Sterling (29.2 percent) vs British Pound Sterling previous week (46.6 percent)
Japanese Yen (33.0 percent) vs Japanese Yen previous week (43.3 percent)
Swiss Franc (46.3 percent) vs Swiss Franc previous week (50.8 percent)
Canadian Dollar (59.5 percent) vs Canadian Dollar previous week (66.5 percent)
Australian Dollar (32.4 percent) vs Australian Dollar previous week (31.6 percent)
New Zealand Dollar (66.7 percent) vs New Zealand Dollar previous week (66.0 percent)
Mexican Peso (14.8 percent) vs Mexican Peso previous week (15.0 percent)
Brazil Real (80.7 percent) vs Brazil Real previous week (59.1 percent)
Bitcoin (100.0 percent) vs Bitcoin previous week (99.5 percent)

Bitcoin, Real and Swiss Franc lead the Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that Bitcoin (25.2 percent) leads the past six weeks trends for the currency markets this week. The Brazilian Real (18.8 percent) and the Swiss Franc (18.4 percent) fill out the next highest movers in the latest trends data.

The Australian Dollar (-8.5 percent) leads the downside trend scores currently while the only other market with a lower trend scores was the US Dollar Index (-7.4 percent).

Strength Trend Statistics:
US Dollar Index (-7.4 percent) vs US Dollar Index previous week (-5.9 percent)
EuroFX (1.6 percent) vs EuroFX previous week (-1.5 percent)
British Pound Sterling (2.9 percent) vs British Pound Sterling previous week (23.0 percent)
Japanese Yen (2.0 percent) vs Japanese Yen previous week (10.9 percent)
Swiss Franc (18.4 percent) vs Swiss Franc previous week (21.9 percent)
Canadian Dollar (2.4 percent) vs Canadian Dollar previous week (19.7 percent)
Australian Dollar (-8.5 percent) vs Australian Dollar previous week (-13.2 percent)
New Zealand Dollar (2.4 percent) vs New Zealand Dollar previous week (0.9 percent)
Mexican Peso (0.2 percent) vs Mexican Peso previous week (0.7 percent)
Brazil Real (18.8 percent) vs Brazil Real previous week (-1.6 percent)
Bitcoin (25.2 percent) vs Bitcoin previous week (31.4 percent)

Individual Markets:

US Dollar Index Futures:

The US Dollar Index large speculator standing this week came in at a net position of 36,107 contracts in the data reported through Tuesday. This was a weekly boost of 592 contracts from the previous week which had a total of 35,515 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 85.2 percent. The commercials are Bearish-Extreme with a score of 14.7 percent and the small traders (not shown in chart) are Bearish with a score of 42.2 percent.

US DOLLAR INDEX Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	85.3	3.1	8.9
– Percent of Open Interest Shorts:	26.8	65.5	5.1
– Net Position:	36,107	-38,458	2,351
– Gross Longs:	52,607	1,912	5,476
– Gross Shorts:	16,500	40,370	3,125
– Long to Short Ratio:	3.2 to 1	0.0 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	85.2	14.7	42.2
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.4	7.7	-4.7

Euro Currency Futures:

The Euro Currency large speculator standing this week came in at a net position of -36,349 contracts in the data reported through Tuesday. This was a weekly advance of 11,327 contracts from the previous week which had a total of -47,676 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 23.8 percent. The commercials are Bullish-Extreme with a score of 81.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 2.1 percent.

EURO Currency Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	28.4	56.7	11.6
– Percent of Open Interest Shorts:	33.5	54.0	9.2
– Net Position:	-36,349	19,610	16,739
– Gross Longs:	205,277	409,460	83,493
– Gross Shorts:	241,626	389,850	66,754
– Long to Short Ratio:	0.8 to 1	1.1 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	23.8	81.6	2.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	1.6	0.3	-10.2

British Pound Sterling Futures:

The British Pound Sterling large speculator standing this week came in at a net position of -50,432 contracts in the data reported through Tuesday. This was a weekly fall of -21,262 contracts from the previous week which had a total of -29,170 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 29.2 percent. The commercials are Bullish with a score of 78.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 6.4 percent.

BRITISH POUND Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	18.8	67.5	8.0
– Percent of Open Interest Shorts:	36.7	42.6	15.0
– Net Position:	-50,432	69,958	-19,526
– Gross Longs:	52,731	189,617	22,607
– Gross Shorts:	103,163	119,659	42,133
– Long to Short Ratio:	0.5 to 1	1.6 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	29.2	78.4	6.4
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	2.9	-0.7	-5.8

Japanese Yen Futures:

The Japanese Yen large speculator standing this week came in at a net position of -58,189 contracts in the data reported through Tuesday. This was a weekly fall of -16,658 contracts from the previous week which had a total of -41,531 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 33.0 percent. The commercials are Bullish with a score of 73.5 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 13.9 percent.

JAPANESE YEN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	19.9	68.0	8.6
– Percent of Open Interest Shorts:	40.6	40.3	15.5
– Net Position:	-58,189	77,669	-19,480
– Gross Longs:	56,002	191,138	24,109
– Gross Shorts:	114,191	113,469	43,589
– Long to Short Ratio:	0.5 to 1	1.7 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	33.0	73.5	13.9
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	2.0	1.9	-14.6

Swiss Franc Futures:

The Swiss Franc large speculator standing this week came in at a net position of -4,037 contracts in the data reported through Tuesday. This was a weekly decrease of -1,775 contracts from the previous week which had a total of -2,262 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 46.3 percent. The commercials are Bullish with a score of 70.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 14.1 percent.

SWISS FRANC Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	22.6	55.1	19.9
– Percent of Open Interest Shorts:	30.9	20.1	46.6
– Net Position:	-4,037	16,867	-12,830
– Gross Longs:	10,882	26,584	9,620
– Gross Shorts:	14,919	9,717	22,450
– Long to Short Ratio:	0.7 to 1	2.7 to 1	0.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	46.3	70.4	14.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	18.4	-6.0	-11.9

Canadian Dollar Futures:

The Canadian Dollar large speculator standing this week came in at a net position of 17,910 contracts in the data reported through Tuesday. This was a weekly lowering of -6,269 contracts from the previous week which had a total of 24,179 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 59.5 percent. The commercials are Bullish with a score of 53.0 percent and the small traders (not shown in chart) are Bearish with a score of 32.1 percent.

CANADIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	35.6	41.4	20.6
– Percent of Open Interest Shorts:	24.5	53.2	19.9
– Net Position:	17,910	-18,916	1,006
– Gross Longs:	57,185	66,485	33,039
– Gross Shorts:	39,275	85,401	32,033
– Long to Short Ratio:	1.5 to 1	0.8 to 1	1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	59.5	53.0	32.1
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	2.4	2.7	-10.9

Australian Dollar Futures:

The Australian Dollar large speculator standing this week came in at a net position of -56,500 contracts in the data reported through Tuesday. This was a weekly lift of 893 contracts from the previous week which had a total of -57,393 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 32.4 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 34.7 percent.

AUSTRALIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	18.7	66.7	10.9
– Percent of Open Interest Shorts:	50.4	30.9	15.0
– Net Position:	-56,500	63,784	-7,284
– Gross Longs:	33,305	118,817	19,403
– Gross Shorts:	89,805	55,033	26,687
– Long to Short Ratio:	0.4 to 1	2.2 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	32.4	66.5	34.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-8.5	9.8	-9.9

New Zealand Dollar Futures:

The New Zealand Dollar large speculator standing this week came in at a net position of -2,746 contracts in the data reported through Tuesday. This was a weekly advance of 378 contracts from the previous week which had a total of -3,124 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 66.7 percent. The commercials are Bearish with a score of 40.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 8.5 percent.

NEW ZEALAND DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.7	55.3	5.4
– Percent of Open Interest Shorts:	42.5	41.5	13.4
– Net Position:	-2,746	6,500	-3,754
– Gross Longs:	17,165	25,900	2,540
– Gross Shorts:	19,911	19,400	6,294
– Long to Short Ratio:	0.9 to 1	1.3 to 1	0.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	66.7	40.4	8.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	2.4	-1.7	-3.8

Mexican Peso Futures:

The Mexican Peso large speculator standing this week came in at a net position of -29,460 contracts in the data reported through Tuesday. This was a weekly decline of -430 contracts from the previous week which had a total of -29,030 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-Extreme with a score of 83.4 percent and the small traders (not shown in chart) are Bullish with a score of 60.6 percent.

MEXICAN PESO Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	48.8	45.6	3.6
– Percent of Open Interest Shorts:	63.6	32.9	1.6
– Net Position:	-29,460	25,310	4,150
– Gross Longs:	97,112	90,882	7,269
– Gross Shorts:	126,572	65,572	3,119
– Long to Short Ratio:	0.8 to 1	1.4 to 1	2.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	14.8	83.4	60.6
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	0.2	-0.6	4.7

Brazilian Real Futures:

The Brazilian Real large speculator standing this week came in at a net position of 30,860 contracts in the data reported through Tuesday. This was a weekly gain of 22,001 contracts from the previous week which had a total of 8,859 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 80.7 percent. The commercials are Bearish-Extreme with a score of 19.6 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 83.8 percent.

BRAZIL REAL Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	78.9	14.4	6.7
– Percent of Open Interest Shorts:	17.2	79.3	3.5
– Net Position:	30,860	-32,482	1,622
– Gross Longs:	39,451	7,177	3,374
– Gross Shorts:	8,591	39,659	1,752
– Long to Short Ratio:	4.6 to 1	0.2 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	80.7	19.6	83.8
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	18.8	-19.4	8.5

Bitcoin Futures:

The Bitcoin large speculator standing this week came in at a net position of 1,322 contracts in the data reported through Tuesday. This was a weekly gain of 26 contracts from the previous week which had a total of 1,296 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 1.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 12.5 percent.

BITCOIN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	83.1	0.4	6.2
– Percent of Open Interest Shorts:	74.5	8.9	6.4
– Net Position:	1,322	-1,301	-21
– Gross Longs:	12,743	63	956
– Gross Shorts:	11,421	1,364	977
– Long to Short Ratio:	1.1 to 1	0.0 to 1	1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	100.0	1.3	12.5
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	25.2	-57.5	-5.9

Article By InvestMacro – Receive our Weekly COT Newsletter by Email

COT Updates Forex and Currency News investing Opinions

11 Sep

COT Metals Speculator bets fall this week led by Gold & Silver

By InvestMacro

The latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC) showed that speculator positioning was lower across the board. The latest COT data for Week 36 is updated through Tuesday September 6th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes are lower led by Gold & Silver

The COT precious metals speculator bets were lower this week as all five of the metals markets recorded lower contracts.

Leading the declines in speculator bets this week was Gold (-13,877 contracts) with Silver (-4,513 contracts), Platinum (-1,373 contracts), Copper (-735 contracts) and Palladium (-473 contracts) also registering lower bets on the week.

Highlighting the COT metals changes this week is the continued decline in the Gold speculator positions. Gold speculative bets have declined for four straight weeks and by a total of -38,994 contracts over that time-frame. This weakness has brought the overall Gold speculator standing (currently at +103,857 contracts) to the lowest level in six weeks, dating back to July 26th. The average speculator position over 2022 has been a total of +185,566 contracts and compared to this week’s position, illustrates the weakness in speculator sentiment for Gold. The futures price is currently in a downtrend after hitting a high over $2,078 in March of this year and closed this week at $1,728.

The Silver speculative positioning has continued to fall lower. The Silver speculator bets have declined for three straight weeks and have now been in a bearish position for three straight weeks as well. The overall speculator standing is currently at -12,784 contracts which is the lowest or most bearish level since May 28th of 2019, a span of 171 weeks. The Silver futures price has dipped below $18 in recent weeks but has found consistent support at that level. This week the Silver price closed higher for the week at $18.75 following three straight weeks of decline.

Data Snapshot of Commodity Market Traders | Columns Legend

Sep-06-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,480,320	1	214,478	1	-240,417	99	25,939	43
Gold	465,908	4	103,857	4	-114,064	98	10,207	0
Silver	138,300	5	-12,784	0	5,055	100	7,729	6
Copper	160,251	2	-23,990	19	26,820	84	-2,830	9
Palladium	6,065	1	-1,602	14	2,129	87	-527	13
Platinum	78,610	53	-6,751	0	3,152	100	3,599	12
Natural Gas	984,642	5	-138,638	37	105,802	64	32,836	58
Brent	163,666	11	-36,388	50	32,508	47	3,880	62
Heating Oil	280,210	27	17,860	69	-36,089	33	18,229	62
Soybeans	606,187	7	81,251	38	-50,826	71	-30,425	20
Corn	1,280,087	2	286,547	67	-230,702	39	-55,845	11
Coffee	193,938	7	47,168	80	-49,276	25	2,108	19
Sugar	760,601	11	57,771	49	-61,944	56	4,173	13
Wheat	289,329	0	-9,759	6	13,677	79	-3,918	90

Strength Scores

Strength scores (a measure of the 3-Year range of Speculator positions, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) showed that all the metals markets are currently in bearish extreme scores under 20 percent. Copper (18.8 percent) is at the highest level of the metals currently followed by Palladium (13.8 percent) and Gold (4.3 percent). Silver (0.0 percent) and Platinum (0.0 percent) are currently at the bottom of their 3-year ranges of strength scores.

Strength Statistics:
Gold (4.3 percent) vs Gold previous week (9.6 percent)
Silver (0.0 percent) vs Silver previous week (5.0 percent)
Copper (18.8 percent) vs Copper previous week (19.4 percent)
Platinum (0.0 percent) vs Platinum previous week (1.8 percent)
Palladium (13.8 percent) vs Palladium previous week (16.5 percent)

Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Palladium (10.2 percent) leads the past six weeks trends for metals this week. Gold (4.3 percent) and Copper (2.0 percent) fill out the other positive movers in the latest trends data.

Silver (-9.1 percent) leads the downside trend scores currently while the next market with lower trend scores was Platinum at -3.1 percent.

Move Statistics:
Gold (4.3 percent) vs Gold previous week (8.7 percent)
Silver (-9.1 percent) vs Silver previous week (-10.6 percent)
Copper (2.0 percent) vs Copper previous week (0.5 percent)
Platinum (-3.1 percent) vs Platinum previous week (-1.5 percent)
Palladium (10.2 percent) vs Palladium previous week (14.8 percent)

Individual Markets:

Gold Comex Futures:

The Gold Comex Futures large speculator standing this week reached a net position of 103,857 contracts in the data reported through Tuesday. This was a weekly fall of -13,877 contracts from the previous week which had a total of 117,734 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 4.3 percent. The commercials are Bullish-Extreme with a score of 98.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 0.0 percent.

Gold Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	49.7	27.8	8.3
– Percent of Open Interest Shorts:	27.4	52.3	6.1
– Net Position:	103,857	-114,064	10,207
– Gross Longs:	231,527	129,683	38,798
– Gross Shorts:	127,670	243,747	28,591
– Long to Short Ratio:	1.8 to 1	0.5 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	4.3	98.0	0.0
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	4.3	-2.0	-14.7

Silver Comex Futures:

The Silver Comex Futures large speculator standing this week reached a net position of -12,784 contracts in the data reported through Tuesday. This was a weekly reduction of -4,513 contracts from the previous week which had a total of -8,271 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 0.0 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 6.4 percent.

Silver Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	37.4	40.4	16.4
– Percent of Open Interest Shorts:	46.6	36.7	10.8
– Net Position:	-12,784	5,055	7,729
– Gross Longs:	51,714	55,823	22,687
– Gross Shorts:	64,498	50,768	14,958
– Long to Short Ratio:	0.8 to 1	1.1 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	0.0	100.0	6.4
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.1	7.3	2.8

Copper Grade #1 Futures:

The Copper Grade #1 Futures large speculator standing this week reached a net position of -23,990 contracts in the data reported through Tuesday. This was a weekly decline of -735 contracts from the previous week which had a total of -23,255 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 18.8 percent. The commercials are Bullish-Extreme with a score of 84.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 8.9 percent.

Copper Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	29.1	51.2	7.8
– Percent of Open Interest Shorts:	44.0	34.5	9.6
– Net Position:	-23,990	26,820	-2,830
– Gross Longs:	46,581	82,038	12,521
– Gross Shorts:	70,571	55,218	15,351
– Long to Short Ratio:	0.7 to 1	1.5 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	18.8	84.3	8.9
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	2.0	-0.0	-14.8

Platinum Futures:

The Platinum Futures large speculator standing this week reached a net position of -6,751 contracts in the data reported through Tuesday. This was a weekly decline of -1,373 contracts from the previous week which had a total of -5,378 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 0.0 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 12.1 percent.

Platinum Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	42.7	38.7	10.2
– Percent of Open Interest Shorts:	51.3	34.7	5.6
– Net Position:	-6,751	3,152	3,599
– Gross Longs:	33,598	30,451	8,025
– Gross Shorts:	40,349	27,299	4,426
– Long to Short Ratio:	0.8 to 1	1.1 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	0.0	100.0	12.1
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-3.1	4.2	-14.5

Palladium Futures:

The Palladium Futures large speculator standing this week reached a net position of -1,602 contracts in the data reported through Tuesday. This was a weekly lowering of -473 contracts from the previous week which had a total of -1,129 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 13.8 percent. The commercials are Bullish-Extreme with a score of 86.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 13.4 percent.

Palladium Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	22.2	62.9	14.2
– Percent of Open Interest Shorts:	48.6	27.8	22.9
– Net Position:	-1,602	2,129	-527
– Gross Longs:	1,344	3,814	863
– Gross Shorts:	2,946	1,685	1,390
– Long to Short Ratio:	0.5 to 1	2.3 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	13.8	86.7	13.4
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	10.2	-9.9	-2.4

Article By InvestMacro – Receive our weekly COT Reports by Email

COT Updates investing Metals Opinions

11 Sep

COT Bonds Speculator bets led lower this week by Fed Funds & 2-Year Bond

By InvestMacro

The latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC) showed that bond speculators mostly lowered their positioning for this week. The latest COT data for Week 36 is updated through Tuesday September 6th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led lower by the Fed Funds & 2-Year Bond

The COT bond market speculator bets were lower this week as just three out of the eight bond markets we cover had higher positioning this week while the other five markets had lower contracts.

Leading the gains for the bond markets was the Eurodollar (74,748 contracts) with the 10-Year Bond (63,826 contracts) and the 5-Year Bond (59,565 contracts) also recording positive weeks.

The bond markets leading the declines in speculator bets this week were the Fed Funds (-66,116 contracts) with the 2-Year Bond (-45,142 contracts), the Long US Bond (-16,383 contracts), the Ultra 10-Year (-4,726 contracts) and the Ultra US Bond (-1,621 contracts) also having lower bets on the week.

Data Snapshot of Bond Market Traders | Columns Legend

Sep-06-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
Eurodollar	9,566,532	14	-2,782,654	2	3,146,671	97	-364,017	24
FedFunds	1,379,784	32	18,650	42	-9,128	59	-9,522	35
2-Year	1,954,427	8	-326,742	16	412,994	100	-86,252	13
Long T-Bond	1,209,340	46	-85,217	57	64,174	33	21,043	69
10-Year	3,545,995	33	-376,277	15	490,281	80	-114,004	53
5-Year	4,009,309	52	-505,891	9	659,349	94	-153,458	39

US Treasury Bond at top of Strength Scores, Eurodollar lowest

Strength Scores (a normalized measure of Speculator positions over a 3-year range, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) show that the US Treasury Bond leads the bonds markets and is the only market above the midpoint of its 3-year range at 56.9 percent. The Fed Funds (41.9 percent) comes in as the next highest bonds market in strength scores followed by the Ultra US Treasury Bond (39.4 percent).

On the downside, the Eurodollar (1.9 percent) comes in at the lowest strength level currently and is followed by the 5-Year Bond (9.0 percent), the 10-Year Bond (15.2 percent) and the 2-Year Bond (16.3 percent). All of these markets are currently in extreme bearish levels with scores below 20 percent.

Strength Statistics:
Fed Funds (41.9 percent) vs Fed Funds previous week (50.1 percent)
2-Year Bond (16.3 percent) vs 2-Year Bond previous week (25.4 percent)
5-Year Bond (9.0 percent) vs 5-Year Bond previous week (0.0 percent)
10-Year Bond (15.2 percent) vs 10-Year Bond previous week (5.5 percent)
Ultra 10-Year Bond (22.9 percent) vs Ultra 10-Year Bond previous week (24.1 percent)
US Treasury Bond (56.9 percent) vs US Treasury Bond previous week (62.2 percent)
Ultra US Treasury Bond (39.4 percent) vs Ultra US Treasury Bond previous week (40.1 percent)
Eurodollar (1.9 percent) vs Eurodollar previous week (0.5 percent)

Ultra 10-Year Bond is only market with positive Strength Trend

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that the Ultra 10-Year Bond (2.1 percent) leads the past six weeks trends for bonds and is the only market with a positive six-week trend score.

The 2-Year Bond (-47.8 percent) leads the downside trend scores currently while the next market with the lowest trend scores was the 5-Year Bond (-28.9 percent) followed by the 10-Year Bond (-26.8 percent) and the Fed Funds (-15.9 percent).

Strength Trend Statistics:
Fed Funds (-15.9 percent) vs Fed Funds previous week (-3.6 percent)
2-Year Bond (-47.8 percent) vs 2-Year Bond previous week (-44.1 percent)
5-Year Bond (-28.9 percent) vs 5-Year Bond previous week (-46.5 percent)
10-Year Bond (-26.8 percent) vs 10-Year Bond previous week (-50.4 percent)
Ultra 10-Year Bond (2.1 percent) vs Ultra 10-Year Bond previous week (4.6 percent)
US Treasury Bond (-12.6 percent) vs US Treasury Bond previous week (-8.7 percent)
Ultra US Treasury Bond (-2.9 percent) vs Ultra US Treasury Bond previous week (-4.1 percent)
Eurodollar (-1.8 percent) vs Eurodollar previous week (-3.9 percent)

Individual Markets:

3-Month Eurodollars Futures:

The 3-Month Eurodollars large speculator standing this week was a net position of -2,782,654 contracts in the data reported through Tuesday. This was a weekly lift of 74,748 contracts from the previous week which had a total of -2,857,402 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 1.9 percent. The commercials are Bullish-Extreme with a score of 97.3 percent and the small traders (not shown in chart) are Bearish with a score of 24.3 percent.

3-Month Eurodollars Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	6.9	70.2	4.1
– Percent of Open Interest Shorts:	36.0	37.3	7.9
– Net Position:	-2,782,654	3,146,671	-364,017
– Gross Longs:	661,773	6,716,597	396,477
– Gross Shorts:	3,444,427	3,569,926	760,494
– Long to Short Ratio:	0.2 to 1	1.9 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	1.9	97.3	24.3
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.8	3.4	-19.9

30-Day Federal Funds Futures:

The 30-Day Federal Funds large speculator standing this week was a net position of 18,650 contracts in the data reported through Tuesday. This was a weekly decrease of -66,116 contracts from the previous week which had a total of 84,766 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 41.9 percent. The commercials are Bullish with a score of 58.8 percent and the small traders (not shown in chart) are Bearish with a score of 35.5 percent.

30-Day Federal Funds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	13.0	73.0	2.3
– Percent of Open Interest Shorts:	11.6	73.7	3.0
– Net Position:	18,650	-9,128	-9,522
– Gross Longs:	178,764	1,007,424	31,787
– Gross Shorts:	160,114	1,016,552	41,309
– Long to Short Ratio:	1.1 to 1	1.0 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	41.9	58.8	35.5
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-15.9	15.8	-4.8

2-Year Treasury Note Futures:

The 2-Year Treasury Note large speculator standing this week was a net position of -326,742 contracts in the data reported through Tuesday. This was a weekly lowering of -45,142 contracts from the previous week which had a total of -281,600 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 16.3 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 12.6 percent.

2-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	4.6	84.4	7.3
– Percent of Open Interest Shorts:	21.3	63.3	11.8
– Net Position:	-326,742	412,994	-86,252
– Gross Longs:	89,223	1,650,101	143,560
– Gross Shorts:	415,965	1,237,107	229,812
– Long to Short Ratio:	0.2 to 1	1.3 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	16.3	100.0	12.6
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-47.8	50.1	-6.5

5-Year Treasury Note Futures:

The 5-Year Treasury Note large speculator standing this week was a net position of -505,891 contracts in the data reported through Tuesday. This was a weekly lift of 59,565 contracts from the previous week which had a total of -565,456 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 9.0 percent. The commercials are Bullish-Extreme with a score of 93.7 percent and the small traders (not shown in chart) are Bearish with a score of 38.8 percent.

5-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	6.6	84.2	7.6
– Percent of Open Interest Shorts:	19.2	67.7	11.4
– Net Position:	-505,891	659,349	-153,458
– Gross Longs:	264,384	3,375,543	304,706
– Gross Shorts:	770,275	2,716,194	458,164
– Long to Short Ratio:	0.3 to 1	1.2 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	9.0	93.7	38.8
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-28.9	25.5	-5.1

10-Year Treasury Note Futures:

The 10-Year Treasury Note large speculator standing this week was a net position of -376,277 contracts in the data reported through Tuesday. This was a weekly increase of 63,826 contracts from the previous week which had a total of -440,103 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 80.1 percent and the small traders (not shown in chart) are Bullish with a score of 53.0 percent.

10-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	7.9	79.7	9.5
– Percent of Open Interest Shorts:	18.5	65.8	12.7
– Net Position:	-376,277	490,281	-114,004
– Gross Longs:	279,865	2,824,708	336,063
– Gross Shorts:	656,142	2,334,427	450,067
– Long to Short Ratio:	0.4 to 1	1.2 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	15.2	80.1	53.0
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-26.8	26.6	-11.3

Ultra 10-Year Notes Futures:

The Ultra 10-Year Notes large speculator standing this week was a net position of -22,712 contracts in the data reported through Tuesday. This was a weekly fall of -4,726 contracts from the previous week which had a total of -17,986 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 22.9 percent. The commercials are Bullish with a score of 77.0 percent and the small traders (not shown in chart) are Bearish with a score of 47.3 percent.

Ultra 10-Year Notes Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	6.4	79.8	9.7
– Percent of Open Interest Shorts:	8.1	69.1	18.8
– Net Position:	-22,712	143,014	-120,302
– Gross Longs:	85,767	1,064,996	130,034
– Gross Shorts:	108,479	921,982	250,336
– Long to Short Ratio:	0.8 to 1	1.2 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	22.9	77.0	47.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	2.1	-2.1	-0.0

US Treasury Bonds Futures:

The US Treasury Bonds large speculator standing this week was a net position of -85,217 contracts in the data reported through Tuesday. This was a weekly decrease of -16,383 contracts from the previous week which had a total of -68,834 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 56.9 percent. The commercials are Bearish with a score of 33.5 percent and the small traders (not shown in chart) are Bullish with a score of 69.3 percent.

US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	6.0	76.2	13.9
– Percent of Open Interest Shorts:	13.0	70.8	12.1
– Net Position:	-85,217	64,174	21,043
– Gross Longs:	72,558	920,966	167,960
– Gross Shorts:	157,775	856,792	146,917
– Long to Short Ratio:	0.5 to 1	1.1 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	56.9	33.5	69.3
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-12.6	12.6	2.6

Ultra US Treasury Bonds Futures:

The Ultra US Treasury Bonds large speculator standing this week was a net position of -357,415 contracts in the data reported through Tuesday. This was a weekly fall of -1,621 contracts from the previous week which had a total of -355,794 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 39.4 percent. The commercials are Bullish with a score of 75.4 percent and the small traders (not shown in chart) are Bearish with a score of 49.6 percent.

Ultra US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	5.2	82.2	10.9
– Percent of Open Interest Shorts:	31.5	58.1	8.8
– Net Position:	-357,415	327,748	29,667
– Gross Longs:	70,713	1,118,090	148,948
– Gross Shorts:	428,128	790,342	119,281
– Long to Short Ratio:	0.2 to 1	1.4 to 1	1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	39.4	75.4	49.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-2.9	12.8	-13.7

Article By InvestMacro – Receive our weekly COT Reports by Email

Bonds COT Updates Financial News investing

11 Sep

COT Soft Commodities Speculator bets trend lower led by Soybean Meal & Lean Hogs

By InvestMacro

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 for Week 36 is updated through Tuesday September 6th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes go lower led by Soybean Meal & Lean Hogs

COT soft commodities speculator bets were lower this week as just three out of the eleven soft commodities markets we cover had higher positioning this week while the other eight markets had lower contracts.

Leading the gains for soft commodities markets was Corn (3,150 contracts) with Live Cattle (3,099 contracts) and Wheat (1,740 contracts) also showing positive weeks.

The softs markets leading the declines in speculator bets this week were Soybean Meal (-9,054 contracts) with Lean Hogs (-6,858 contracts), Soybean Oil (-5,176 contracts), Sugar (-4,780 contracts), Cocoa (-3,847 contracts), Soybeans (-2,311 contracts), Coffee (-1,519 contracts) and Cotton (-1,055 contracts) also recording lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Sep-06-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,480,320	1	214,478	1	-240,417	99	25,939	43
Gold	465,908	4	103,857	4	-114,064	98	10,207	0
Silver	138,300	5	-12,784	0	5,055	100	7,729	6
Copper	160,251	2	-23,990	19	26,820	84	-2,830	9
Palladium	6,065	1	-1,602	14	2,129	87	-527	13
Platinum	78,610	53	-6,751	0	3,152	100	3,599	12
Natural Gas	984,642	5	-138,638	37	105,802	64	32,836	58
Brent	163,666	11	-36,388	50	32,508	47	3,880	62
Heating Oil	280,210	27	17,860	69	-36,089	33	18,229	62
Soybeans	606,187	7	81,251	38	-50,826	71	-30,425	20
Corn	1,280,087	2	286,547	67	-230,702	39	-55,845	11
Coffee	193,938	7	47,168	80	-49,276	25	2,108	19
Sugar	760,601	11	57,771	49	-61,944	56	4,173	13
Wheat	289,329	0	-9,759	6	13,677	79	-3,918	90

Soybean Meal and Coffee lead the Strength Scores

Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) show that Soybean Meal (87.1 percent) leads the soft commodity markets and is in a bullish extreme position with a score above 80 percent. Coffee (79.6 percent) comes in as the next highest soft commodity markets market in strength scores followed by Corn (66.6 percent) and Live Cattle (58.1 percent).

On the downside, Wheat (6.4 percent) comes in at the lowest strength level currently and remains as the only market in a bearish extreme level with a score under 20 percent. The next lowest is Cocoa (21.3 percent) followed by Soybean Oil (36.4 percent).

Strength Statistics:
Corn (66.6 percent) vs Corn previous week (66.2 percent)
Sugar (48.5 percent) vs Sugar previous week (49.5 percent)
Coffee (79.6 percent) vs Coffee previous week (80.9 percent)
Soybeans (38.3 percent) vs Soybeans previous week (39.0 percent)
Soybean Oil (36.4 percent) vs Soybean Oil previous week (40.0 percent)
Soybean Meal (87.1 percent) vs Soybean Meal previous week (92.2 percent)
Live Cattle (58.1 percent) vs Live Cattle previous week (54.3 percent)
Lean Hogs (46.3 percent) vs Lean Hogs previous week (53.8 percent)
Cotton (51.2 percent) vs Cotton previous week (51.9 percent)
Cocoa (21.3 percent) vs Cocoa previous week (25.1 percent)
Wheat (6.4 percent) vs Wheat previous week (4.1 percent)

Live Cattle and Soybean Oil at top of Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that Live Cattle (33.7 percent) leads the past six weeks trends for soft commodity markets this week. Soybean Oil (19.1 percent), Coffee (16.0 percent) and Corn (12.8 percent) fill out the next highest movers in the latest trends data.

Wheat (-12.7 percent) leads the downside trend scores currently while the next market with lower trend scores were Sugar (-1.3 percent) followed by Soybeans at -1.2 percent.

Strength Trend Statistics:
Corn (12.8 percent) vs Corn previous week (9.4 percent)
Sugar (-1.3 percent) vs Sugar previous week (-13.3 percent)
Coffee (16.0 percent) vs Coffee previous week (17.9 percent)
Soybeans (-1.2 percent) vs Soybeans previous week (-5.8 percent)
Soybean Oil (19.1 percent) vs Soybean Oil previous week (18.3 percent)
Soybean Meal (0.3 percent) vs Soybean Meal previous week (8.6 percent)
Live Cattle (33.7 percent) vs Live Cattle previous week (47.4 percent)
Lean Hogs (1.0 percent) vs Lean Hogs previous week (14.8 percent)
Cotton (8.0 percent) vs Cotton previous week (9.7 percent)
Cocoa (1.0 percent) vs Cocoa previous week (8.8 percent)
Wheat (-12.7 percent) vs Wheat previous week (-23.5 percent)

Individual Markets:

CORN Futures:

The CORN large speculator standing this week recorded a net position of 286,547 contracts in the data reported through Tuesday. This was a weekly increase of 3,150 contracts from the previous week which had a total of 283,397 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 66.6 percent. The commercials are Bearish with a score of 39.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 10.9 percent.

CORN Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.8	46.1	9.1
– Percent of Open Interest Shorts:	9.4	64.2	13.5
– Net Position:	286,547	-230,702	-55,845
– Gross Longs:	406,895	590,573	116,649
– Gross Shorts:	120,348	821,275	172,494
– Long to Short Ratio:	3.4 to 1	0.7 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	66.6	39.0	10.9
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	12.8	-13.1	-4.7

SUGAR Futures:

The SUGAR large speculator standing this week recorded a net position of 57,771 contracts in the data reported through Tuesday. This was a weekly decline of -4,780 contracts from the previous week which had a total of 62,551 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 48.5 percent. The commercials are Bullish with a score of 56.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 13.0 percent.

SUGAR Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.4	53.9	8.3
– Percent of Open Interest Shorts:	15.9	62.0	7.8
– Net Position:	57,771	-61,944	4,173
– Gross Longs:	178,344	409,718	63,249
– Gross Shorts:	120,573	471,662	59,076
– Long to Short Ratio:	1.5 to 1	0.9 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	48.5	56.4	13.0
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.3	0.7	3.1

COFFEE Futures:

The COFFEE large speculator standing this week recorded a net position of 47,168 contracts in the data reported through Tuesday. This was a weekly decline of -1,519 contracts from the previous week which had a total of 48,687 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 79.6 percent. The commercials are Bearish with a score of 24.5 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 18.9 percent.

COFFEE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	30.5	45.4	4.8
– Percent of Open Interest Shorts:	6.2	70.8	3.7
– Net Position:	47,168	-49,276	2,108
– Gross Longs:	59,224	88,013	9,278
– Gross Shorts:	12,056	137,289	7,170
– Long to Short Ratio:	4.9 to 1	0.6 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	79.6	24.5	18.9
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	16.0	-18.5	17.2

SOYBEANS Futures:

The SOYBEANS large speculator standing this week recorded a net position of 81,251 contracts in the data reported through Tuesday. This was a weekly fall of -2,311 contracts from the previous week which had a total of 83,562 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 38.3 percent. The commercials are Bullish with a score of 71.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 19.6 percent.

SOYBEANS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	25.1	55.2	6.2
– Percent of Open Interest Shorts:	11.6	63.5	11.3
– Net Position:	81,251	-50,826	-30,425
– Gross Longs:	151,858	334,375	37,854
– Gross Shorts:	70,607	385,201	68,279
– Long to Short Ratio:	2.2 to 1	0.9 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	38.3	71.1	19.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.2	2.1	-4.7

SOYBEAN OIL Futures:

The SOYBEAN OIL large speculator standing this week recorded a net position of 48,782 contracts in the data reported through Tuesday. This was a weekly decrease of -5,176 contracts from the previous week which had a total of 53,958 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 Bearish with a score of 36.4 percent. The commercials are Bullish with a score of 65.5 percent and the small traders (not shown in chart) are Bearish with a score of 37.2 percent.

SOYBEAN OIL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	20.8	52.1	8.0
– Percent of Open Interest Shorts:	8.4	66.2	6.4
– Net Position:	48,782	-55,146	6,364
– Gross Longs:	81,987	205,203	31,353
– Gross Shorts:	33,205	260,349	24,989
– Long to Short Ratio:	2.5 to 1	0.8 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	36.4	65.5	37.2
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	19.1	-19.9	14.6

SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week recorded a net position of 107,135 contracts in the data reported through Tuesday. This was a weekly decline of -9,054 contracts from the previous week which had a total of 116,189 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 87.1 percent. The commercials are Bearish-Extreme with a score of 17.1 percent and the small traders (not shown in chart) are Bearish with a score of 34.1 percent.

SOYBEAN MEAL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.4	43.7	11.6
– Percent of Open Interest Shorts:	4.8	76.3	6.5
– Net Position:	107,135	-126,646	19,511
– Gross Longs:	125,905	170,122	44,983
– Gross Shorts:	18,770	296,768	25,472
– Long to Short Ratio:	6.7 to 1	0.6 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	87.1	17.1	34.1
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	0.3	-0.1	-1.9

LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week recorded a net position of 62,830 contracts in the data reported through Tuesday. This was a weekly advance of 3,099 contracts from the previous week which had a total of 59,731 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 58.1 percent. The commercials are Bearish with a score of 31.3 percent and the small traders (not shown in chart) are Bullish with a score of 75.3 percent.

LIVE CATTLE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	37.6	32.3	10.6
– Percent of Open Interest Shorts:	16.4	52.5	11.6
– Net Position:	62,830	-59,885	-2,945
– Gross Longs:	111,433	95,824	31,503
– Gross Shorts:	48,603	155,709	34,448
– Long to Short Ratio:	2.3 to 1	0.6 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	58.1	31.3	75.3
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	33.7	-34.3	-6.9

LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week recorded a net position of 36,341 contracts in the data reported through Tuesday. This was a weekly decrease of -6,858 contracts from the previous week which had a total of 43,199 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 46.3 percent. The commercials are Bullish with a score of 58.7 percent and the small traders (not shown in chart) are Bullish with a score of 60.5 percent.

LEAN HOGS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.3	37.3	8.8
– Percent of Open Interest Shorts:	19.6	50.8	12.0
– Net Position:	36,341	-29,399	-6,942
– Gross Longs:	79,138	81,384	19,248
– Gross Shorts:	42,797	110,783	26,190
– Long to Short Ratio:	1.8 to 1	0.7 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	46.3	58.7	60.5
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	1.0	-2.6	6.7

COTTON Futures:

The COTTON large speculator standing this week recorded a net position of 50,712 contracts in the data reported through Tuesday. This was a weekly lowering of -1,055 contracts from the previous week which had a total of 51,767 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 51.2 percent. The commercials are Bearish with a score of 48.6 percent and the small traders (not shown in chart) are Bullish with a score of 56.5 percent.

COTTON Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.6	44.7	6.9
– Percent of Open Interest Shorts:	12.7	72.0	3.5
– Net Position:	50,712	-57,850	7,138
– Gross Longs:	77,522	94,458	14,536
– Gross Shorts:	26,810	152,308	7,398
– Long to Short Ratio:	2.9 to 1	0.6 to 1	2.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	51.2	48.6	56.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	8.0	-10.6	31.9

COCOA Futures:

The COCOA large speculator standing this week recorded a net position of 4,464 contracts in the data reported through Tuesday. This was a weekly decline of -3,847 contracts from the previous week which had a total of 8,311 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 21.3 percent. The commercials are Bullish-Extreme with a score of 80.4 percent and the small traders (not shown in chart) are Bearish with a score of 24.1 percent.

COCOA Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.2	47.2	4.5
– Percent of Open Interest Shorts:	30.7	49.6	3.6
– Net Position:	4,464	-7,224	2,760
– Gross Longs:	93,816	137,463	13,152
– Gross Shorts:	89,352	144,687	10,392
– Long to Short Ratio:	1.0 to 1	1.0 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	21.3	80.4	24.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	1.0	-2.1	10.4

WHEAT Futures:

The WHEAT large speculator standing this week recorded a net position of -9,759 contracts in the data reported through Tuesday. This was a weekly rise of 1,740 contracts from the previous week which had a total of -11,499 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 6.4 percent. The commercials are Bullish with a score of 79.1 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 90.1 percent.

WHEAT Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	30.6	41.9	10.1
– Percent of Open Interest Shorts:	34.0	37.2	11.4
– Net Position:	-9,759	13,677	-3,918
– Gross Longs:	88,611	121,265	29,169
– Gross Shorts:	98,370	107,588	33,087
– Long to Short Ratio:	0.9 to 1	1.1 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	6.4	79.1	90.1
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-12.7	8.0	21.7

Article By InvestMacro – Receive our weekly COT Reports by Email

COT Updates Financial News investing Soft Commodities

11 Sep

COT Energy Speculators Weekly Bets led lower by WTI Crude & Natural Gas

By InvestMacro

The latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC) showed that speculators reduced their positioning in the energy markets. The latest COT data for Week 36 is updated through Tuesday September 6th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led lower by WTI Crude & Natural Gas

The COT energy market speculator bets were lower this week as two out of the six energy markets we cover had higher positioning this week while four markets had lower contracts.

Leading the gains for energy markets was Brent Crude Oil (3,625 contracts) and the Bloomberg Commodity Index (2,147 contracts) also showing a positive week.

The energy markets leading the declines in speculator bets this week were WTI Crude Oil (-14,711 contracts) and Natural Gas (-9,873 contracts) with Heating Oil (-7,336 contracts) and Gasoline (-536 contracts) also registering lower bets on the week.

Data Snapshot of Commodity Market Traders | Columns Legend

Sep-06-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,480,320	1	214,478	1	-240,417	99	25,939	43
Gold	465,908	4	103,857	4	-114,064	98	10,207	0
Silver	138,300	5	-12,784	0	5,055	100	7,729	6
Copper	160,251	2	-23,990	19	26,820	84	-2,830	9
Palladium	6,065	1	-1,602	14	2,129	87	-527	13
Platinum	78,610	53	-6,751	0	3,152	100	3,599	12
Natural Gas	984,642	5	-138,638	37	105,802	64	32,836	58
Brent	163,666	11	-36,388	50	32,508	47	3,880	62
Heating Oil	280,210	27	17,860	69	-36,089	33	18,229	62
Soybeans	606,187	7	81,251	38	-50,826	71	-30,425	20
Corn	1,280,087	2	286,547	67	-230,702	39	-55,845	11
Coffee	193,938	7	47,168	80	-49,276	25	2,108	19
Sugar	760,601	11	57,771	49	-61,944	56	4,173	13
Wheat	289,329	0	-9,759	6	13,677	79	-3,918	90

Strength Scores

Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) show that Heating Oil (68.7 percent) and the Bloomberg Commodity Index (67.6 percent) lead the energy markets currently. Brent Crude Oil (50.1 percent) comes in as the next highest energy market in strength scores and above the 3-Year midpoint.

On the downside, WTI Crude Oil (1.0 percent) comes in at the lowest strength level and is in a bearish extreme level (below 20 percent).

Strength Statistics:
WTI Crude Oil (1.0 percent) vs WTI Crude Oil previous week (4.9 percent)
Brent Crude Oil (50.1 percent) vs Brent Crude Oil previous week (44.0 percent)
Natural Gas (37.0 percent) vs Natural Gas previous week (39.9 percent)
Gasoline (21.2 percent) vs Gasoline previous week (21.7 percent)
Heating Oil (68.7 percent) vs Heating Oil previous week (79.5 percent)
Bloomberg Commodity Index (67.6 percent) vs Bloomberg Commodity Index previous week (59.4 percent)

Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that the Bloomberg Commodity Index (20.1 percent) leads the past six weeks trends for energy this week. Brent Crude Oil (8.6 percent) and Gasoline (3.8 percent) are the only other positive movers in the latest trends data.

WTI Crude Oil (-11.8 percent) leads the downside trend scores currently while the next market with lower trend scores were Natural Gas (-6.1 percent) followed by Heating Oil (-1.2 percent).

Strength Trend Statistics:
WTI Crude Oil (-11.8 percent) vs WTI Crude Oil previous week (-11.1 percent)
Brent Crude Oil (8.6 percent) vs Brent Crude Oil previous week (2.2 percent)
Natural Gas (-6.1 percent) vs Natural Gas previous week (-2.5 percent)
Gasoline (3.8 percent) vs Gasoline previous week (9.9 percent)
Heating Oil (-1.2 percent) vs Heating Oil previous week (23.5 percent)
Bloomberg Commodity Index (20.1 percent) vs Bloomberg Commodity Index previous week (6.0 percent)

Individual Markets:

WTI Crude Oil Futures:

The WTI Crude Oil Futures large speculator standing this week totaled a net position of 214,478 contracts in the data reported through Tuesday. This was a weekly decrease of -14,711 contracts from the previous week which had a total of 229,189 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 1.0 percent. The commercials are Bullish-Extreme with a score of 99.4 percent and the small traders (not shown in chart) are Bearish with a score of 43.2 percent.

WTI Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	22.0	40.5	5.3
– Percent of Open Interest Shorts:	7.5	56.8	3.6
– Net Position:	214,478	-240,417	25,939
– Gross Longs:	326,007	599,689	78,942
– Gross Shorts:	111,529	840,106	53,003
– Long to Short Ratio:	2.9 to 1	0.7 to 1	1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	1.0	99.4	43.2
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-11.8	11.6	2.8

Brent Crude Oil Futures:

The Brent Crude Oil Futures large speculator standing this week totaled a net position of -36,388 contracts in the data reported through Tuesday. This was a weekly boost of 3,625 contracts from the previous week which had a total of -40,013 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 50.1 percent. The commercials are Bearish with a score of 47.3 percent and the small traders (not shown in chart) are Bullish with a score of 61.7 percent.

Brent Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	17.6	52.6	5.2
– Percent of Open Interest Shorts:	39.8	32.8	2.8
– Net Position:	-36,388	32,508	3,880
– Gross Longs:	28,735	86,126	8,497
– Gross Shorts:	65,123	53,618	4,617
– Long to Short Ratio:	0.4 to 1	1.6 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	50.1	47.3	61.7
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	8.6	-13.4	40.0

Natural Gas Futures:

The Natural Gas Futures large speculator standing this week totaled a net position of -138,638 contracts in the data reported through Tuesday. This was a weekly decline of -9,873 contracts from the previous week which had a total of -128,765 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 37.0 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 57.9 percent.

Natural Gas Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	16.6	42.3	6.8
– Percent of Open Interest Shorts:	30.7	31.5	3.4
– Net Position:	-138,638	105,802	32,836
– Gross Longs:	163,659	416,041	66,617
– Gross Shorts:	302,297	310,239	33,781
– Long to Short Ratio:	0.5 to 1	1.3 to 1	2.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	37.0	64.2	57.9
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-6.1	7.2	-5.7

Gasoline Blendstock Futures:

The Gasoline Blendstock Futures large speculator standing this week totaled a net position of 49,166 contracts in the data reported through Tuesday. This was a weekly fall of -536 contracts from the previous week which had a total of 49,702 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 21.2 percent. The commercials are Bullish-Extreme with a score of 82.7 percent and the small traders (not shown in chart) are Bearish with a score of 23.2 percent.

Nasdaq Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.7	47.3	7.1
– Percent of Open Interest Shorts:	12.5	68.1	6.5
– Net Position:	49,166	-50,738	1,572
– Gross Longs:	79,830	115,591	17,453
– Gross Shorts:	30,664	166,329	15,881
– Long to Short Ratio:	2.6 to 1	0.7 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	21.2	82.7	23.2
– Strength Index Reading (3 Year Range):	Bearish	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	3.8	-0.4	-22.3

#2 Heating Oil NY-Harbor Futures:

The #2 Heating Oil NY-Harbor Futures large speculator standing this week totaled a net position of 17,860 contracts in the data reported through Tuesday. This was a weekly lowering of -7,336 contracts from the previous week which had a total of 25,196 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 32.8 percent and the small traders (not shown in chart) are Bullish with a score of 61.5 percent.

Heating Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	15.0	53.5	15.0
– Percent of Open Interest Shorts:	8.7	66.4	8.5
– Net Position:	17,860	-36,089	18,229
– Gross Longs:	42,125	149,862	42,127
– Gross Shorts:	24,265	185,951	23,898
– Long to Short Ratio:	1.7 to 1	0.8 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	68.7	32.8	61.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.2	-2.7	11.7

Bloomberg Commodity Index Futures:

The Bloomberg Commodity Index Futures large speculator standing this week totaled a net position of -10,420 contracts in the data reported through Tuesday. This was a weekly gain of 2,147 contracts from the previous week which had a total of -12,567 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 Bullish with a score of 67.6 percent. The commercials are Bearish with a score of 32.2 percent and the small traders (not shown in chart) are Bearish with a score of 21.2 percent.

Bloomberg Index Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.2	73.8	0.6
– Percent of Open Interest Shorts:	40.2	58.2	0.1
– Net Position:	-10,420	10,122	298
– Gross Longs:	15,696	47,944	388
– Gross Shorts:	26,116	37,822	90
– Long to Short Ratio:	0.6 to 1	1.3 to 1	4.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	67.6	32.2	21.2
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	20.1	-20.3	1.4

Article By InvestMacro – Receive our weekly COT Reports by Email

COT Updates Energy Financial News investing

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