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Soft Commodities Speculators continue to boost their Sugar bullish bets to 20-week high

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 April 12th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Highlighting the COT soft commodities data is once again a surge higher in this week’s Sugar futures bets. The speculative net position in the Sugar futures gained for a third consecutive week this week and for the seventh time in the past eight weeks. Sugar bullish bets have increased by a total of +165,301 contracts over that eight-week time-frame, going from 74,563 net contracts on February 15th to a total of 239,864 net contracts through Tuesday. This sentiment boost has now brought the current speculator net position to the most bullish level of the past twenty weeks, dating back to November 30th. Sugar prices have been strong as well and traded this week at their highest standing since back in November.

The soft commodities that saw higher bets this week were Corn (8,508 contracts), Sugar (51,317 contracts), Coffee (4,118 contracts), Soybean Oil (8,828 contracts), Live Cattle (2,775 contracts), Cocoa (2,525 contracts) and Wheat (3,935 contracts).

The markets with declining speculator bets this week were Soybeans (-629 contracts), Lean Hogs (-4,729 contracts), Cotton (-1,090 contracts) and Soybean Meal (-7,520 contracts).

Speculator strength standings for each Commodity where strength index is current net position compared to past three years, above 80 is bullish extreme, below 20 is bearish extreme

OI Strength = Current Open Interest level compared to last 3 years range
Spec Strength = Current Net Speculator level compared to last 3 years range
Strength Move = Six week change of Spec Strength

Data Snapshot of Commodity Market Traders | Columns Legend

Apr-12-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,783,725	0	304,778	0	-350,603	100	45,825	80
Gold	577,639	40	254,287	69	-288,093	30	33,806	60
Silver	158,813	24	45,986	68	-63,690	36	17,704	46
Copper	204,825	30	23,350	59	-29,249	39	5,899	59
Palladium	6,340	0	-2,033	10	1,402	84	631	80
Platinum	63,363	27	6,415	11	-13,233	90	6,818	57
Natural Gas	1,170,828	20	-137,549	37	90,221	59	47,328	99
Brent	190,488	32	-36,318	50	33,933	50	2,385	41
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	752,157	34	198,295	79	-170,694	26	-27,601	24
Corn	1,589,848	36	495,581	93	-443,706	9	-51,875	13
Coffee	214,938	0	47,929	83	-52,716	19	4,787	24
Sugar	916,130	23	239,864	86	-301,628	11	61,764	84
Wheat	338,271	1	23,886	67	-21,258	20	-2,628	99

CORN Futures:

The CORN large speculator standing this week came in at a net position of 495,581 contracts in the data reported through Tuesday. This was a weekly lift of 8,508 contracts from the previous week which had a total of 487,073 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 93.3 percent. The commercials are Bearish-Extreme with a score of 8.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 13.2 percent.

CORN Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.0	45.4	9.4
– Percent of Open Interest Shorts:	4.8	73.3	12.7
– Net Position:	495,581	-443,706	-51,875
– Gross Longs:	572,527	721,141	149,665
– Gross Shorts:	76,946	1,164,847	201,540
– Long to Short Ratio:	7.4 to 1	0.6 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	93.3	8.7	13.2
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	4.4	-2.3	-10.8

SUGAR Futures:

The SUGAR large speculator standing this week came in at a net position of 239,864 contracts in the data reported through Tuesday. This was a weekly rise of 51,317 contracts from the previous week which had a total of 188,547 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-Extreme with a score of 85.9 percent. The commercials are Bearish-Extreme with a score of 11.0 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 84.2 percent.

SUGAR Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.9	44.5	12.1
– Percent of Open Interest Shorts:	5.8	77.4	5.4
– Net Position:	239,864	-301,628	61,764
– Gross Longs:	292,621	407,382	110,845
– Gross Shorts:	52,757	709,010	49,081
– Long to Short Ratio:	5.5 to 1	0.6 to 1	2.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	85.9	11.0	84.2
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	31.9	-37.2	50.7

COFFEE Futures:

The COFFEE large speculator standing this week came in at a net position of 47,929 contracts in the data reported through Tuesday. This was a weekly increase of 4,118 contracts from the previous week which had a total of 43,811 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 83.1 percent. The commercials are Bearish-Extreme with a score of 18.7 percent and the small traders (not shown in chart) are Bearish with a score of 24.4 percent.

COFFEE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	26.4	51.6	5.0
– Percent of Open Interest Shorts:	4.1	76.1	2.7
– Net Position:	47,929	-52,716	4,787
– Gross Longs:	56,743	110,821	10,640
– Gross Shorts:	8,814	163,537	5,853
– Long to Short Ratio:	6.4 to 1	0.7 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	83.1	18.7	24.4
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-10.4	10.8	3.2

SOYBEANS Futures:

The SOYBEANS large speculator standing this week came in at a net position of 198,295 contracts in the data reported through Tuesday. This was a weekly lowering of -629 contracts from the previous week which had a total of 198,924 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 79.3 percent. The commercials are Bearish with a score of 25.7 percent and the small traders (not shown in chart) are Bearish with a score of 24.4 percent.

SOYBEANS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.9	47.0	7.1
– Percent of Open Interest Shorts:	6.6	69.6	10.8
– Net Position:	198,295	-170,694	-27,601
– Gross Longs:	247,765	353,160	53,388
– Gross Shorts:	49,470	523,854	80,989
– Long to Short Ratio:	5.0 to 1	0.7 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	79.3	25.7	24.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-5.1	4.4	3.5

SOYBEAN OIL Futures:

The SOYBEAN OIL large speculator standing this week came in at a net position of 98,324 contracts in the data reported through Tuesday. This was a weekly gain of 8,828 contracts from the previous week which had a total of 89,496 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 76.9 percent. The commercials are Bearish with a score of 20.2 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 91.1 percent.

SOYBEAN OIL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.2	46.9	11.1
– Percent of Open Interest Shorts:	4.2	79.6	5.4
– Net Position:	98,324	-119,136	20,812
– Gross Longs:	113,809	170,924	40,463
– Gross Shorts:	15,485	290,060	19,651
– Long to Short Ratio:	7.3 to 1	0.6 to 1	2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	76.9	20.2	91.1
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.2	-9.5	20.6

SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week came in at a net position of 116,258 contracts in the data reported through Tuesday. This was a weekly decrease of -7,520 contracts from the previous week which had a total of 123,778 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 92.2 percent. The commercials are Bearish-Extreme with a score of 5.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 98.7 percent.

SOYBEAN MEAL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.8	42.9	13.1
– Percent of Open Interest Shorts:	3.5	80.2	5.1
– Net Position:	116,258	-148,220	31,962
– Gross Longs:	130,357	170,806	52,146
– Gross Shorts:	14,099	319,026	20,184
– Long to Short Ratio:	9.2 to 1	0.5 to 1	2.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	92.2	5.9	98.7
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	1.7	-5.1	28.2

LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week came in at a net position of 51,842 contracts in the data reported through Tuesday. This was a weekly advance of 2,775 contracts from the previous week which had a total of 49,067 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 with a score of 72.3 percent and the small traders (not shown in chart) are Bullish with a score of 65.1 percent.

LIVE CATTLE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.9	40.4	10.1
– Percent of Open Interest Shorts:	20.1	54.4	12.9
– Net Position:	51,842	-43,300	-8,542
– Gross Longs:	113,806	124,469	31,249
– Gross Shorts:	61,964	167,769	39,791
– Long to Short Ratio:	1.8 to 1	0.7 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	23.8	72.3	65.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-4.8	6.5	-1.6

LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week came in at a net position of 40,771 contracts in the data reported through Tuesday. This was a weekly reduction of -4,729 contracts from the previous week which had a total of 45,500 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 Bullish with a score of 51.3 percent and the small traders (not shown in chart) are Bullish with a score of 68.1 percent.

LEAN HOGS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.4	35.0	10.2
– Percent of Open Interest Shorts:	18.7	50.4	12.4
– Net Position:	40,771	-35,705	-5,066
– Gross Longs:	84,112	80,838	23,679
– Gross Shorts:	43,341	116,543	28,745
– Long to Short Ratio:	1.9 to 1	0.7 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	51.2	51.3	68.1
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-22.3	19.7	19.0

COTTON Futures:

The COTTON large speculator standing this week came in at a net position of 83,220 contracts in the data reported through Tuesday. This was a weekly lowering of -1,090 contracts from the previous week which had a total of 84,310 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 75.7 percent. The commercials are Bearish with a score of 21.5 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 97.5 percent.

COTTON Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	45.1	35.4	9.3
– Percent of Open Interest Shorts:	7.4	79.2	3.2
– Net Position:	83,220	-96,675	13,455
– Gross Longs:	99,542	78,213	20,481
– Gross Shorts:	16,322	174,888	7,026
– Long to Short Ratio:	6.1 to 1	0.4 to 1	2.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	75.7	21.5	97.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-5.5	3.6	15.2

COCOA Futures:

The COCOA large speculator standing this week came in at a net position of 39,159 contracts in the data reported through Tuesday. This was a weekly advance of 2,525 contracts from the previous week which had a total of 36,634 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 56.0 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 72.0 percent.

COCOA Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.0	44.8	6.9
– Percent of Open Interest Shorts:	14.7	64.2	3.8
– Net Position:	39,159	-46,610	7,451
– Gross Longs:	74,307	107,381	16,611
– Gross Shorts:	35,148	153,991	9,160
– Long to Short Ratio:	2.1 to 1	0.7 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	56.0	40.6	72.0
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	13.4	-10.9	-24.9

WHEAT Futures:

The WHEAT large speculator standing this week came in at a net position of 23,886 contracts in the data reported through Tuesday. This was a weekly lift of 3,935 contracts from the previous week which had a total of 19,951 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 67.4 percent. The commercials are Bearish with a score of 20.1 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 99.1 percent.

WHEAT Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	35.3	37.1	9.6
– Percent of Open Interest Shorts:	28.3	43.4	10.4
– Net Position:	23,886	-21,258	-2,628
– Gross Longs:	119,566	125,657	32,500
– Gross Shorts:	95,680	146,915	35,128
– Long to Short Ratio:	1.2 to 1	0.9 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	67.4	20.1	99.1
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	14.9	-21.0	21.9

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.

09 Apr

COT Currency Speculators boost Australian Dollar bets to best level in 37-weeks

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 April 5th 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.

Highlighting the COT currency data was the further retreat of bearish bets in the Australian currency futures contracts. Australian dollar speculators reduced their bearish bets for a second straight week this week and for the sixth time in the past seven weeks. Over this seven-week time-frame, Aussie bets have improved by a total of +49,181 contracts, going from -86,694 net positions on February 15th to -37,513 net positions this week. This improvement in speculator sentiment has brought the current net position (-37,513 contracts) to the least bearish level of the past thirty-seven weeks, dating back to July 20th when the net position totaled -35,690 contracts. The speculator level for the Aussie has not registered a bullish or positive net weekly position since May 18th of 2021, a span of forty-seven weeks. Despite the bearish level of speculators, the AUD has been one of the stronger currencies over the past month and has been helped along by the outlook that the Reserve Bank of Australia will start to raise interest rates for the first time since 2010.

The currencies with higher speculator bets this week were the US Dollar Index (911 contracts), Australian dollar (12,093 contracts), Mexican peso (9,157 contracts), Euro (5,996 contracts), Brazil real (2,910 contracts), Canadian dollar (8,458 contracts) and Bitcoin (27 contracts).

The currencies with declining bets were the Japanese yen (-1,698 contracts), Swiss franc (-814 contracts), British pound sterling (-1,688 contracts), New Zealand dollar (-702 contracts) and the Russian ruble (-263 contracts).

Speculator strength standings for each currency where strength index is current net position compared to past three years, above 80 is bullish extreme, below 20 is bearish extreme

OI Strength = Current Open Interest level compared to last 3 years range
Spec Strength = Current Net Speculator level compared to last 3 years range
Strength Move = Six week change of Spec Strength

Data Snapshot of Forex Market Traders | Columns Legend

Apr-05-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
USD Index	49,049	65	31,852	81	-35,194	16	3,342	53
EUR	663,589	67	27,370	43	-49,617	62	22,247	11
GBP	238,266	63	-41,758	44	57,779	64	-16,021	22
JPY	242,217	83	-103,829	2	125,224	98	-21,395	10
CHF	40,005	14	-12,393	48	20,743	54	-8,350	39
CAD	157,562	35	6,923	54	-30,414	38	23,491	77
AUD	148,898	44	-37,513	50	22,332	36	15,181	89
NZD	35,788	16	-1,569	69	171	31	1,398	68
MXN	172,712	36	910	28	-5,778	70	4,868	64
RUB	20,930	4	7,543	31	-7,150	69	-393	24
BRL	65,870	61	45,526	95	-47,961	4	2,435	93
Bitcoin	11,374	61	-244	89	-397	0	641	28

US Dollar Index Futures:

The US Dollar Index large speculator standing this week recorded a net position of 31,852 contracts in the data reported through Tuesday. This was a weekly boost of 911 contracts from the previous week which had a total of 30,941 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 16.1 percent and the small traders (not shown in chart) are Bullish with a score of 53.1 percent.

US DOLLAR INDEX Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	83.7	2.9	10.7
– Percent of Open Interest Shorts:	18.7	74.6	3.9
– Net Position:	31,852	-35,194	3,342
– Gross Longs:	41,038	1,417	5,243
– Gross Shorts:	9,186	36,611	1,901
– Long to Short Ratio:	4.5 to 1	0.0 to 1	2.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	80.7	16.1	53.1
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.3	10.3	-21.2

Euro Currency Futures:

The Euro Currency large speculator standing this week recorded a net position of 27,370 contracts in the data reported through Tuesday. This was a weekly boost of 5,996 contracts from the previous week which had a total of 21,374 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 43.4 percent. The commercials are Bullish with a score of 61.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.3 percent.

EURO Currency Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.8	53.8	11.7
– Percent of Open Interest Shorts:	27.7	61.3	8.4
– Net Position:	27,370	-49,617	22,247
– Gross Longs:	210,914	357,140	77,946
– Gross Shorts:	183,544	406,757	55,699
– Long to Short Ratio:	1.1 to 1	0.9 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	43.4	61.7	11.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.8	13.7	-27.3

British Pound Sterling Futures:

The British Pound Sterling large speculator standing this week recorded a net position of -41,758 contracts in the data reported through Tuesday. This was a weekly lowering of -1,688 contracts from the previous week which had a total of -40,070 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 43.9 percent. The commercials are Bullish with a score of 63.9 percent and the small traders (not shown in chart) are Bearish with a score of 22.4 percent.

BRITISH POUND Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	15.1	73.6	8.4
– Percent of Open Interest Shorts:	32.6	49.4	15.1
– Net Position:	-41,758	57,779	-16,021
– Gross Longs:	35,873	175,429	19,923
– Gross Shorts:	77,631	117,650	35,944
– Long to Short Ratio:	0.5 to 1	1.5 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	43.9	63.9	22.4
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-25.9	28.2	-24.4

Japanese Yen Futures:

The Japanese Yen large speculator standing this week recorded a net position of -103,829 contracts in the data reported through Tuesday. This was a weekly reduction of -1,698 contracts from the previous week which had a total of -102,131 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 2.4 percent. The commercials are Bullish-Extreme with a score of 98.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 10.0 percent.

JAPANESE YEN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	6.0	84.7	7.9
– Percent of Open Interest Shorts:	48.9	33.0	16.8
– Net Position:	-103,829	125,224	-21,395
– Gross Longs:	14,583	205,209	19,190
– Gross Shorts:	118,412	79,985	40,585
– Long to Short Ratio:	0.1 to 1	2.6 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	2.4	98.4	10.0
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-25.7	21.2	-4.3

Swiss Franc Futures:

The Swiss Franc large speculator standing this week recorded a net position of -12,393 contracts in the data reported through Tuesday. This was a weekly reduction of -814 contracts from the previous week which had a total of -11,579 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 48.3 percent. The commercials are Bullish with a score of 54.2 percent and the small traders (not shown in chart) are Bearish with a score of 38.8 percent.

SWISS FRANC Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	4.6	73.5	21.7
– Percent of Open Interest Shorts:	35.6	21.6	42.6
– Net Position:	-12,393	20,743	-8,350
– Gross Longs:	1,860	29,392	8,694
– Gross Shorts:	14,253	8,649	17,044
– Long to Short Ratio:	0.1 to 1	3.4 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	48.3	54.2	38.8
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-2.5	1.8	-0.7

Canadian Dollar Futures:

The Canadian Dollar large speculator standing this week recorded a net position of 6,923 contracts in the data reported through Tuesday. This was a weekly increase of 8,458 contracts from the previous week which had a total of -1,535 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 54.4 percent. The commercials are Bearish with a score of 37.6 percent and the small traders (not shown in chart) are Bullish with a score of 76.6 percent.

CANADIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.7	49.4	26.0
– Percent of Open Interest Shorts:	19.3	68.7	11.1
– Net Position:	6,923	-30,414	23,491
– Gross Longs:	37,325	77,906	40,906
– Gross Shorts:	30,402	108,320	17,415
– Long to Short Ratio:	1.2 to 1	0.7 to 1	2.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	54.4	37.6	76.6
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-2.3	-11.7	37.0

Australian Dollar Futures:

The Australian Dollar large speculator standing this week recorded a net position of -37,513 contracts in the data reported through Tuesday. This was a weekly advance of 12,093 contracts from the previous week which had a total of -49,606 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 35.5 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 89.5 percent.

AUSTRALIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.4	53.9	21.7
– Percent of Open Interest Shorts:	48.6	38.9	11.5
– Net Position:	-37,513	22,332	15,181
– Gross Longs:	34,871	80,207	32,313
– Gross Shorts:	72,384	57,875	17,132
– Long to Short Ratio:	0.5 to 1	1.4 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	50.1	35.5	89.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	43.2	-55.1	66.3

New Zealand Dollar Futures:

The New Zealand Dollar large speculator standing this week recorded a net position of -1,569 contracts in the data reported through Tuesday. This was a weekly decline of -702 contracts from the previous week which had a total of -867 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 68.6 percent. The commercials are Bearish with a score of 30.7 percent and the small traders (not shown in chart) are Bullish with a score of 67.8 percent.

NEW ZEALAND DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	43.1	44.3	12.0
– Percent of Open Interest Shorts:	47.5	43.8	8.1
– Net Position:	-1,569	171	1,398
– Gross Longs:	15,428	15,863	4,311
– Gross Shorts:	16,997	15,692	2,913
– 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):	68.6	30.7	67.8
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	16.7	-21.2	43.0

Mexican Peso Futures:

The Mexican Peso large speculator standing this week recorded a net position of 910 contracts in the data reported through Tuesday. This was a weekly advance of 9,157 contracts from the previous week which had a total of -8,247 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 27.7 percent. The commercials are Bullish with a score of 70.4 percent and the small traders (not shown in chart) are Bullish with a score of 63.7 percent.

MEXICAN PESO Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	45.6	49.6	4.5
– Percent of Open Interest Shorts:	45.1	53.0	1.6
– Net Position:	910	-5,778	4,868
– Gross Longs:	78,728	85,690	7,698
– Gross Shorts:	77,818	91,468	2,830
– Long to Short Ratio:	1.0 to 1	0.9 to 1	2.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	27.7	70.4	63.7
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-6.8	6.4	2.8

Brazilian Real Futures:

The Brazilian Real large speculator standing this week recorded a net position of 45,526 contracts in the data reported through Tuesday. This was a weekly lift of 2,910 contracts from the previous week which had a total of 42,616 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 95.1 percent. The commercials are Bearish-Extreme with a score of 4.5 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 93.3 percent.

BRAZIL REAL Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	76.7	16.4	6.6
– Percent of Open Interest Shorts:	7.6	89.2	2.9
– Net Position:	45,526	-47,961	2,435
– Gross Longs:	50,518	10,795	4,319
– Gross Shorts:	4,992	58,756	1,884
– Long to Short Ratio:	10.1 to 1	0.2 to 1	2.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	95.1	4.5	93.3
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	20.7	-20.4	-2.4

Russian Ruble Futures:

The Russian Ruble large speculator standing this week recorded a net position of 7,543 contracts in the data reported through Tuesday. This was a weekly fall of -263 contracts from the previous week which had a total of 7,806 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 31.2 percent. The commercials are Bullish with a score of 69.1 percent and the small traders (not shown in chart) are Bearish with a score of 23.9 percent.

RUSSIAN RUBLE Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.6	60.6	2.8
– Percent of Open Interest Shorts:	0.5	94.7	4.7
– Net Position:	7,543	-7,150	-393
– Gross Longs:	7,658	12,679	593
– Gross Shorts:	115	19,829	986
– Long to Short Ratio:	66.6 to 1	0.6 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	31.2	69.1	23.9
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-15.6	16.7	-18.8

Bitcoin Futures:

The Bitcoin large speculator standing this week recorded a net position of -244 contracts in the data reported through Tuesday. This was a weekly lift of 27 contracts from the previous week which had a total of -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 Bullish-Extreme with a score of 89.1 percent. The commercials are Bearish-Extreme with a score of 9.6 percent and the small traders (not shown in chart) are Bearish with a score of 27.5 percent.

BITCOIN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	77.5	3.8	11.6
– Percent of Open Interest Shorts:	79.6	7.3	6.0
– Net Position:	-244	-397	641
– Gross Longs:	8,811	437	1,322
– Gross Shorts:	9,055	834	681
– Long to Short Ratio:	1.0 to 1	0.5 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	89.1	9.6	27.5
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	0.8	-11.3	2.3

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Forex and Currency News Opinions

09 Apr

COT Metals Speculators cool off their Gold bullish bets to 6-week low

Each Commodity Share Percent of All Commodities Open Interest

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 April 5th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Highlighting the COT metals data is the recent decline in the Gold futures bets. The speculative net position in the Gold futures dropped this week for the third time in the past four weeks and by a total of -28,847 contracts over that time-frame. Gold spec positions had previously been on a strong run of rising weekly bullish bets and had increased for five straight weeks from February 8th to March 8th with a total gain of +102,246 contracts over that period. That speculator sentiment strength brought positions to a sixty-one week high with a net position of +274,388 contracts and coincided with the Gold price surging above the $2,050 level. Since then, bullish bets have cooled off while the Gold price has also taken a breather and fallen back into a trading range between approximately $1,920 and $1,960 where it currently resides.

Overall, the metals market that rose this week was just Copper (5,561 contracts) while Gold (-12,055 contracts), Platinum (-2,711 contracts), Palladium (-30 contracts) and Silver (-3,206 contracts) all had lower bets on the week.

Speculator strength standings for each Commodity where strength index is current net position compared to past three years, above 80 is bullish extreme, below 20 is bearish extreme

OI Strength = Current Open Interest level compared to last 3 years range
Spec Strength = Current Net Speculator level compared to last 3 years range
Strength Move = Six week change of Spec Strength

Data Snapshot of Commodity Market Traders | Columns Legend

Apr-05-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,823,366	5	308,594	0	-355,435	100	46,841	81
Gold	560,666	36	245,541	66	-278,758	33	33,217	58
Silver	148,526	15	45,034	67	-60,036	40	15,002	30
Copper	216,157	38	36,142	68	-43,039	30	6,897	65
Palladium	6,642	1	-2,041	10	1,443	85	598	78
Platinum	60,983	23	11,290	18	-17,905	83	6,615	54
Natural Gas	1,169,620	19	-136,611	38	92,647	60	43,964	90
Brent	189,394	31	-29,712	61	26,537	37	3,175	52
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	756,785	35	198,924	79	-170,882	26	-28,042	24
Corn	1,556,206	30	487,073	92	-424,154	12	-62,919	7
Coffee	226,730	5	43,811	80	-48,758	22	4,947	23
Sugar	859,871	10	188,547	75	-240,107	23	51,560	72
Wheat	344,615	5	19,951	64	-15,332	26	-4,619	89

Gold Comex Futures:

The Gold Comex Futures large speculator standing this week resulted in a net position of 245,541 contracts in the data reported through Tuesday. This was a weekly decline of -12,055 contracts from the previous week which had a total of 257,596 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 65.8 percent. The commercials are Bearish with a score of 32.6 percent and the small traders (not shown in chart) are Bullish with a score of 58.5 percent.

Gold Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	57.9	22.2	9.2
– Percent of Open Interest Shorts:	14.1	71.9	3.3
– Net Position:	245,541	-278,758	33,217
– Gross Longs:	324,570	124,506	51,778
– Gross Shorts:	79,029	403,264	18,561
– Long to Short Ratio:	4.1 to 1	0.3 to 1	2.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	65.8	32.6	58.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	0.8	-2.8	18.9

Silver Comex Futures:

The Silver Comex Futures large speculator standing this week resulted in a net position of 45,034 contracts in the data reported through Tuesday. This was a weekly lowering of -3,206 contracts from the previous week which had a total of 48,240 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 67.3 percent. The commercials are Bearish with a score of 40.0 percent and the small traders (not shown in chart) are Bearish with a score of 30.2 percent.

Silver Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	43.7	30.9	17.7
– Percent of Open Interest Shorts:	13.4	71.3	7.6
– Net Position:	45,034	-60,036	15,002
– Gross Longs:	64,936	45,922	26,307
– Gross Shorts:	19,902	105,958	11,305
– Long to Short Ratio:	3.3 to 1	0.4 to 1	2.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	67.3	40.0	30.2
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	14.7	-16.0	9.2

Copper Grade #1 Futures:

The Copper Grade #1 Futures large speculator standing this week resulted in a net position of 36,142 contracts in the data reported through Tuesday. This was a weekly boost of 5,561 contracts from the previous week which had a total of 30,581 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 68.4 percent. The commercials are Bearish with a score of 29.9 percent and the small traders (not shown in chart) are Bullish with a score of 65.2 percent.

Copper Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	42.0	38.0	8.6
– Percent of Open Interest Shorts:	25.3	57.9	5.4
– Net Position:	36,142	-43,039	6,897
– Gross Longs:	90,779	82,054	18,675
– Gross Shorts:	54,637	125,093	11,778
– Long to Short Ratio:	1.7 to 1	0.7 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	68.4	29.9	65.2
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.6	-5.7	-13.2

Platinum Futures:

The Platinum Futures large speculator standing this week resulted in a net position of 11,290 contracts in the data reported through Tuesday. This was a weekly fall of -2,711 contracts from the previous week which had a total of 14,001 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 18.0 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 54.3 percent.

Platinum Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	47.3	32.6	16.5
– Percent of Open Interest Shorts:	28.8	62.0	5.6
– Net Position:	11,290	-17,905	6,615
– Gross Longs:	28,827	19,894	10,054
– Gross Shorts:	17,537	37,799	3,439
– Long to Short Ratio:	1.6 to 1	0.5 to 1	2.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	18.0	83.4	54.3
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.1	7.1	17.7

Palladium Futures:

The Palladium Futures large speculator standing this week resulted in a net position of -2,041 contracts in the data reported through Tuesday. This was a weekly decrease of -30 contracts from the previous week which had a total of -2,011 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 84.7 percent and the small traders (not shown in chart) are Bullish with a score of 78.5 percent.

Palladium Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	25.7	52.5	20.6
– Percent of Open Interest Shorts:	56.4	30.7	11.5
– Net Position:	-2,041	1,443	598
– Gross Longs:	1,704	3,484	1,365
– Gross Shorts:	3,745	2,041	767
– Long to Short Ratio:	0.5 to 1	1.7 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	9.9	84.7	78.5
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-3.5	1.9	16.6

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Metals Opinions

09 Apr

Commodities Speculators push their Sugar bullish bets to 15-week high

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 April 5th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Highlighting the COT soft commodities data is the jump in this week’s Sugar futures bets. The speculative net position in the Sugar futures rose by the largest one-week amount (+26,966 contracts) over the last four weeks and bullish bets have gained for two straight weeks. Sugar positions have also risen in six out of the past seven weeks with a total gain of +113,984 contracts over that time-frame. This recent speculator strength has pushed the current net standing (+188,547 contracts) to the highest level in the last fifteen weeks, dating back to December 21st. The strength index for Sugar is not yet in an extreme bullish score with the current score at 75.4 percent but the strength score has seen a change of 23.3 percent over the past six weeks (speculator strength index is current speculator standing compared to past three years, above 80 is bullish extreme, below 20 is bearish extreme). Sugar prices have been on a renewed uptrend (after a drop under the 200-day moving average in January to early March) and closed this week at the highest level since November.

The soft commodities that saw higher bets this week were Corn (4,981 contracts), Sugar (26,966 contracts), Coffee (5,122 contracts), Soybean Oil (2,212 contracts), Soybean Meal (1,993 contracts), Cotton (150 contracts) and Wheat (6,392 contracts).

The market that had declining speculator bets were Soybeans (-7,545 contracts), Live Cattle (-3,678 contracts), Lean Hogs (-7,694 contracts) and Cocoa (-3,040 contracts).

Data Snapshot of Commodity Market Traders | Columns Legend

Apr-05-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,823,366	5	308,594	0	-355,435	100	46,841	81
Gold	560,666	36	245,541	66	-278,758	33	33,217	58
Silver	148,526	15	45,034	67	-60,036	40	15,002	30
Copper	216,157	38	36,142	68	-43,039	30	6,897	65
Palladium	6,642	1	-2,041	10	1,443	85	598	78
Platinum	60,983	23	11,290	18	-17,905	83	6,615	54
Natural Gas	1,169,620	19	-136,611	38	92,647	60	43,964	90
Brent	189,394	31	-29,712	61	26,537	37	3,175	52
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	756,785	35	198,924	79	-170,882	26	-28,042	24
Corn	1,556,206	30	487,073	92	-424,154	12	-62,919	7
Coffee	226,730	5	43,811	80	-48,758	22	4,947	23
Sugar	859,871	10	188,547	75	-240,107	23	51,560	72
Wheat	344,615	5	19,951	64	-15,332	26	-4,619	89