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COT Metals Speculators continue to decrease their Gold & Silver bullish bets

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

The latest COT data is updated through Tuesday May 31st and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Metals large speculator bets were mostly higher this week as three out of the five metals markets we cover had higher positioning this week while two markets had lower contracts. Leading the gains for metals was Copper (1,608 contracts) with Platinum (878 contracts) and Palladium (339 contracts) also showing a positive week. Meanwhile, leading the declines in speculator bets this week was Gold (-11,224 contracts) while Silver (-106 contracts) also registered lower bets on the week.

Gold positions dropped by over -11,000 contracts this week and have now been lower in nine out of the past twelve weeks. The gold position has declined by a total of -101,799 contracts over that 12-week time period. This weakness has now pushed the gold speculator net standing to the lowest level of the past seventeen weeks, dating back to February 1st.

Silver bets, meanwhile, have fallen for six consecutive weeks and by a total of -32,432 contracts over that period. Silver speculators have bailed out of their bullish positions since early March 3rd when the net position hit a 43-week high at +52,297 contracts. Currently, the net position has fallen all the way down to +13,997 contracts this week which marks the lowest level in the past 155 weeks, dating back to June 11th of 2019.

Strength scores (3-Year range of Speculator positions, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) show that most of the metals markets are in extreme bearish levels (except Gold which is just above the 20 percent threshold). Strength score trends (or move index, that show 6-week changes in strength scores) shows the recent weakness of all of the metals market. Silver, Gold and Copper have fallen particularly hard in six weeks.

Data Snapshot of Commodity Market Traders | Columns Legend

May-31-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,787,928	9	332,976	10	-373,761	91	40,785	72
Gold	513,722	18	172,589	5	-200,056	95	27,467	32
Silver	147,301	14	13,997	15	-23,861	99	9,864	6
Copper	189,923	19	-18,025	29	15,425	70	2,600	40
Palladium	6,538	1	-3,133	4	3,221	95	-88	39
Platinum	67,964	35	2,363	7	-6,501	96	4,138	20
Natural Gas	1,115,815	7	-110,368	45	59,679	50	50,689	100
Brent	181,699	25	-40,872	43	38,941	58	1,931	35
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	753,373	34	186,078	71	-158,757	34	-27,321	25
Corn	1,564,217	32	404,200	82	-353,348	22	-50,852	14
Coffee	214,170	8	43,015	76	-45,757	28	2,742	17
Sugar	848,463	11	201,680	78	-240,752	23	39,072	56
Wheat	331,136	11	22,309	48	-18,647	33	-3,662	91

Gold Comex Futures:

The Gold Comex Futures large speculator standing this week totaled a net position of 172,589 contracts in the data reported through Tuesday. This was a weekly decline of -11,224 contracts from the previous week which had a total of 183,813 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 5.4 percent. The commercials are Bullish-Extreme with a score of 94.9 percent and the small traders (not shown in chart) are Bearish with a score of 32.2 percent.

Gold Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	52.5	26.3	9.1
– Percent of Open Interest Shorts:	18.9	65.3	3.7
– Net Position:	172,589	-200,056	27,467
– Gross Longs:	269,459	135,360	46,639
– Gross Shorts:	96,870	335,416	19,172
– Long to Short Ratio:	2.8 to 1	0.4 to 1	2.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	5.4	94.9	32.2
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-35.1	38.6	-27.6

Silver Comex Futures:

The Silver Comex Futures large speculator standing this week totaled a net position of 13,997 contracts in the data reported through Tuesday. This was a weekly decrease of -106 contracts from the previous week which had a total of 14,103 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 15.1 percent. The commercials are Bullish-Extreme with a score of 99.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 6.2 percent.

Silver Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	37.7	38.3	16.6
– Percent of Open Interest Shorts:	28.2	54.5	9.9
– Net Position:	13,997	-23,861	9,864
– Gross Longs:	55,545	56,447	24,482
– Gross Shorts:	41,548	80,308	14,618
– Long to Short Ratio:	1.3 to 1	0.7 to 1	1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	15.1	99.3	6.2
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-43.1	50.9	-38.3

Copper Grade #1 Futures:

The Copper Grade #1 Futures large speculator standing this week totaled a net position of -18,025 contracts in the data reported through Tuesday. This was a weekly gain of 1,608 contracts from the previous week which had a total of -19,633 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 29.4 percent. The commercials are Bullish with a score of 70.1 percent and the small traders (not shown in chart) are Bearish with a score of 40.3 percent.

Copper Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	28.1	52.5	9.0
– Percent of Open Interest Shorts:	37.6	44.4	7.7
– Net Position:	-18,025	15,425	2,600
– Gross Longs:	53,404	99,692	17,184
– Gross Shorts:	71,429	84,267	14,584
– Long to Short Ratio:	0.7 to 1	1.2 to 1	1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	29.4	70.1	40.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-26.5	30.1	-39.7

Platinum Futures:

The Platinum Futures large speculator standing this week totaled a net position of 2,363 contracts in the data reported through Tuesday. This was a weekly rise of 878 contracts from the previous week which had a total of 1,485 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 96.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 19.7 percent.

Platinum Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	40.1	40.6	11.8
– Percent of Open Interest Shorts:	36.6	50.2	5.7
– Net Position:	2,363	-6,501	4,138
– Gross Longs:	27,226	27,591	8,034
– Gross Shorts:	24,863	34,092	3,896
– Long to Short Ratio:	1.1 to 1	0.8 to 1	2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	6.7	96.1	19.7
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.4	10.1	-29.9

Palladium Futures:

The Palladium Futures large speculator standing this week totaled a net position of -3,133 contracts in the data reported through Tuesday. This was a weekly increase of 339 contracts from the previous week which had a total of -3,472 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 3.7 percent. The commercials are Bullish-Extreme with a score of 94.8 percent and the small traders (not shown in chart) are Bearish with a score of 38.8 percent.

Palladium Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	12.3	70.6	15.7
– Percent of Open Interest Shorts:	60.2	21.3	17.1
– Net Position:	-3,133	3,221	-88
– Gross Longs:	803	4,614	1,029
– Gross Shorts:	3,936	1,393	1,117
– Long to Short Ratio:	0.2 to 1	3.3 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	3.7	94.8	38.8
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-5.4	9.5	-41.1

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.

04 Jun

COT Week 22 Charts: Bonds Speculator positions lower across the board

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

The latest COT data is updated through Tuesday May 31st and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

COT bonds market speculator bets were lower this week as all eight bond markets we cover had lower positioning this week. Leading the declines in speculator bets this week were the 5-Year Bond (-97,261 contracts) and the 2-Year Bond (-92,825 contracts) with the Eurodollar (-22,436 contracts), Fed Funds (-17,284 contracts), 10-Year Bond (-13,783 contracts), Long US Bond (-8,741 contracts), Ultra 10-Year (-6,442 contracts) and the Ultra US Bond (-1,383 contracts) also coming in with lower bets on the week.

Strength scores (3-Year range of Speculator positions, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) show that most of the bond markets are below their midpoints (50 percent) for the past 3 years. The US Treasury Bond, 2-Year and the Ultra US Bond have all gone above the midpoint and the US Treasury Bond has now entered extreme bullish levels as compared to its range over the past 3 years.

Strength score trends (or move index, that show 6-week changes in strength scores) shows a mixed picture with half the bond markets rising over the past six weeks and half not.

Data Snapshot of Bond Market Traders | Columns Legend

May-31-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
Eurodollar	10,374,105	31	-2,855,216	0	3,260,722	99	-405,506	15
FedFunds	1,907,235	69	25,207	43	-17,303	58	-7,904	40
2-Year	2,219,497	19	-128,118	56	193,103	62	-64,985	21
Long T-Bond	1,212,023	51	19,761	91	1,627	21	-21,388	36
10-Year	3,470,808	28	-238,907	36	411,183	71	-172,276	39
5-Year	3,804,715	40	-217,788	45	367,355	58	-149,567	40

3-Month Eurodollars Futures:

The 3-Month Eurodollars large speculator standing this week was a net position of -2,855,216 contracts in the data reported through Tuesday. This was a weekly lowering of -22,436 contracts from the previous week which had a total of -2,832,780 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 0.4 percent. The commercials are Bullish-Extreme with a score of 99.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 15.2 percent.

3-Month Eurodollars Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	3.2	75.4	3.6
– Percent of Open Interest Shorts:	30.7	44.0	7.5
– Net Position:	-2,855,216	3,260,722	-405,506
– Gross Longs:	332,811	7,825,376	371,699
– Gross Shorts:	3,188,027	4,564,654	777,205
– Long to Short Ratio:	0.1 to 1	1.7 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	0.4	99.3	15.2
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-5.5	4.8	6.9

30-Day Federal Funds Futures:

The 30-Day Federal Funds large speculator standing this week was a net position of 25,207 contracts in the data reported through Tuesday. This was a weekly reduction of -17,284 contracts from the previous week which had a total of 42,491 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 42.7 percent. The commercials are Bullish with a score of 57.8 percent and the small traders (not shown in chart) are Bearish with a score of 39.6 percent.

30-Day Federal Funds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	6.2	75.9	1.9
– Percent of Open Interest Shorts:	4.8	76.8	2.4
– Net Position:	25,207	-17,303	-7,904
– Gross Longs:	117,407	1,448,066	37,077
– Gross Shorts:	92,200	1,465,369	44,981
– Long to Short Ratio:	1.3 to 1	1.0 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	42.7	57.8	39.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	0.8	-1.4	11.0

2-Year Treasury Note Futures:

The 2-Year Treasury Note large speculator standing this week was a net position of -128,118 contracts in the data reported through Tuesday. This was a weekly reduction of -92,825 contracts from the previous week which had a total of -35,293 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 56.4 percent. The commercials are Bullish with a score of 62.1 percent and the small traders (not shown in chart) are Bearish with a score of 21.5 percent.

2-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	11.9	77.2	6.5
– Percent of Open Interest Shorts:	17.6	68.5	9.4
– Net Position:	-128,118	193,103	-64,985
– Gross Longs:	263,530	1,714,483	143,470
– Gross Shorts:	391,648	1,521,380	208,455
– Long to Short Ratio:	0.7 to 1	1.1 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	56.4	62.1	21.5
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.2	-5.1	12.2

5-Year Treasury Note Futures:

The 5-Year Treasury Note large speculator standing this week was a net position of -217,788 contracts in the data reported through Tuesday. This was a weekly decline of -97,261 contracts from the previous week which had a total of -120,527 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 45.0 percent. The commercials are Bullish with a score of 58.1 percent and the small traders (not shown in chart) are Bearish with a score of 39.9 percent.

5-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	9.1	81.4	7.5
– Percent of Open Interest Shorts:	14.9	71.7	11.4
– Net Position:	-217,788	367,355	-149,567
– Gross Longs:	348,119	3,096,723	285,676
– Gross Shorts:	565,907	2,729,368	435,243
– Long to Short Ratio:	0.6 to 1	1.1 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	45.0	58.1	39.9
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	12.5	-15.9	16.3

10-Year Treasury Note Futures:

The 10-Year Treasury Note large speculator standing this week was a net position of -238,907 contracts in the data reported through Tuesday. This was a weekly decrease of -13,783 contracts from the previous week which had a total of -225,124 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 Bearish with a score of 36.1 percent. The commercials are Bullish with a score of 70.7 percent and the small traders (not shown in chart) are Bearish with a score of 38.9 percent.

10-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	7.1	79.6	9.0
– Percent of Open Interest Shorts:	14.0	67.8	14.0
– Net Position:	-238,907	411,183	-172,276
– Gross Longs:	245,557	2,764,399	313,090
– Gross Shorts:	484,464	2,353,216	485,366
– Long to Short Ratio:	0.5 to 1	1.2 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	36.1	70.7	38.9
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	14.2	-13.1	3.9

Ultra 10-Year Notes Futures:

The Ultra 10-Year Notes large speculator standing this week was a net position of -105,367 contracts in the data reported through Tuesday. This was a weekly fall of -6,442 contracts from the previous week which had a total of -98,925 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 1.4 percent. The commercials are Bullish-Extreme with a score of 94.3 percent and the small traders (not shown in chart) are Bullish with a score of 52.6 percent.

Ultra 10-Year Notes Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	4.8	81.8	11.9
– Percent of Open Interest Shorts:	13.4	64.7	20.4
– Net Position:	-105,367	210,588	-105,221
– Gross Longs:	59,643	1,010,524	147,144
– Gross Shorts:	165,010	799,936	252,365
– Long to Short Ratio:	0.4 to 1	1.3 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	1.4	94.3	52.6
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.3	5.0	5.2

US Treasury Bonds Futures:

The US Treasury Bonds large speculator standing this week was a net position of 19,761 contracts in the data reported through Tuesday. This was a weekly reduction of -8,741 contracts from the previous week which had a total of 28,502 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 with a score of 20.6 percent and the small traders (not shown in chart) are Bearish with a score of 35.6 percent.

US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	9.9	75.9	13.0
– Percent of Open Interest Shorts:	8.3	75.8	14.7
– Net Position:	19,761	1,627	-21,388
– Gross Longs:	120,014	920,309	157,340
– Gross Shorts:	100,253	918,682	178,728
– Long to Short Ratio:	1.2 to 1	1.0 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	91.0	20.6	35.6
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	10.1	-6.3	-8.8

Ultra US Treasury Bonds Futures:

The Ultra US Treasury Bonds large speculator standing this week was a net position of -309,278 contracts in the data reported through Tuesday. This was a weekly fall of -1,383 contracts from the previous week which had a total of -307,895 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 59.0 percent. The commercials are Bullish with a score of 55.7 percent and the small traders (not shown in chart) are Bearish with a score of 43.8 percent.

Ultra US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	3.2	83.4	11.5
– Percent of Open Interest Shorts:	27.2	61.1	9.9
– Net Position:	-309,278	287,591	21,687
– Gross Longs:	41,190	1,074,846	148,794
– Gross Shorts:	350,468	787,255	127,107
– Long to Short Ratio:	0.1 to 1	1.4 to 1	1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	59.0	55.7	43.8
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	11.5	-11.4	-3.5

Article By InvestMacro – Receive our weekly COT Reports by Email

Bonds CountingPips Forex Blog Financial News

04 Jun

COT Week 22 Charts: Soft Commodities Speculators Positions mostly lower led by Corn & Sugar

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

The latest COT data is updated through Tuesday May 31st and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Soft Commodities speculator bets were mostly lower again this week as only three out of the eleven softs markets we cover had higher positioning this week while the other eight markets had lower positions. Leading the gains for the soft commodities was Coffee (5,943 contracts) and Lean Hogs (1,859 contracts) with Cocoa (1,570 contracts) also showing a positive week. Meanwhile, leading the declines in speculator bets this week were Corn (-23,648 contracts) and Sugar (-7,807 contracts) with Soybean Oil (-4,455 contracts), Wheat (-4,035 contracts), Live Cattle (-3,207 contracts), Soybeans (-2,290 contracts), Cotton (-1,836 contracts) and Soybean Meal (-1,153 contracts) also coming in with lower bets on the week.

Strength scores (3-Year range of Speculator positions, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) show that most of the softs markets are above their midpoints (50 percent) for the past 3 years as the soft commodities have been highly bid and have had strong speculator sentiment.

Strength score trends (or move index, that show 6-week changes in strength scores) shows that despite most of the softs markets having high speculator strength scores, there has been a cool-off for these markets over the past six weeks. Live cattle and lean hogs have seen the most weakness over the past six weeks followed by Cocoa and Soybean Meal.

Data Snapshot of Commodity Market Traders | Columns Legend

May-31-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,787,928	9	332,976	10	-373,761	91	40,785	72
Gold	513,722	18	172,589	5	-200,056	95	27,467	32
Silver	147,301	14	13,997	15	-23,861	99	9,864	6
Copper	189,923	19	-18,025	29	15,425	70	2,600	40
Palladium	6,538	1	-3,133	4	3,221	95	-88	39
Platinum	67,964	35	2,363	7	-6,501	96	4,138	20
Natural Gas	1,115,815	7	-110,368	45	59,679	50	50,689	100
Brent	181,699	25	-40,872	43	38,941	58	1,931	35
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	753,373	34	186,078	71	-158,757	34	-27,321	25
Corn	1,564,217	32	404,200	82	-353,348	22	-50,852	14
Coffee	214,170	8	43,015	76	-45,757	28	2,742	17
Sugar	848,463	11	201,680	78	-240,752	23	39,072	56
Wheat	331,136	11	22,309	48	-18,647	33	-3,662	91

CORN Futures:

The CORN large speculator standing this week resulted in a net position of 404,200 contracts in the data reported through Tuesday. This was a weekly reduction of -23,648 contracts from the previous week which had a total of 427,848 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 81.7 percent. The commercials are Bearish with a score of 21.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 13.8 percent.

CORN Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	35.3	42.1	9.0
– Percent of Open Interest Shorts:	9.4	64.6	12.2
– Net Position:	404,200	-353,348	-50,852
– Gross Longs:	551,849	657,849	140,307
– Gross Shorts:	147,649	1,011,197	191,159
– Long to Short Ratio:	3.7 to 1	0.7 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	81.7	21.6	13.8
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-12.3	14.6	-3.7

SUGAR Futures:

The SUGAR large speculator standing this week resulted in a net position of 201,680 contracts in the data reported through Tuesday. This was a weekly decline of -7,807 contracts from the previous week which had a total of 209,487 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 78.1 percent. The commercials are Bearish with a score of 22.5 percent and the small traders (not shown in chart) are Bullish with a score of 56.2 percent.

SUGAR Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	30.6	45.1	10.5
– Percent of Open Interest Shorts:	6.8	73.5	5.9
– Net Position:	201,680	-240,752	39,072
– Gross Longs:	259,634	382,461	89,391
– Gross Shorts:	57,954	623,213	50,319
– Long to Short Ratio:	4.5 to 1	0.6 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	78.1	22.5	56.2
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.8	10.4	-20.9

COFFEE Futures:

The COFFEE large speculator standing this week resulted in a net position of 43,015 contracts in the data reported through Tuesday. This was a weekly boost of 5,943 contracts from the previous week which had a total of 37,072 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 76.0 percent. The commercials are Bearish with a score of 27.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 17.4 percent.

COFFEE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.5	51.5	4.4
– Percent of Open Interest Shorts:	3.4	72.9	3.1
– Net Position:	43,015	-45,757	2,742
– Gross Longs:	50,242	110,322	9,389
– Gross Shorts:	7,227	156,079	6,647
– Long to Short Ratio:	7.0 to 1	0.7 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	76.0	27.7	17.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	1.0	-0.3	-9.0

SOYBEANS Futures:

The SOYBEANS large speculator standing this week resulted in a net position of 186,078 contracts in the data reported through Tuesday. This was a weekly reduction of -2,290 contracts from the previous week which had a total of 188,368 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 70.9 percent. The commercials are Bearish with a score of 34.4 percent and the small traders (not shown in chart) are Bearish with a score of 24.9 percent.

SOYBEANS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.6	47.3	6.6
– Percent of Open Interest Shorts:	6.9	68.3	10.2
– Net Position:	186,078	-158,757	-27,321
– Gross Longs:	237,836	356,115	49,891
– Gross Shorts:	51,758	514,872	77,212
– Long to Short Ratio:	4.6 to 1	0.7 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	70.9	34.4	24.9
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-4.3	4.6	-3.6

SOYBEAN OIL Futures:

The SOYBEAN OIL large speculator standing this week resulted in a net position of 75,041 contracts in the data reported through Tuesday. This was a weekly fall of -4,455 contracts from the previous week which had a total of 79,496 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 57.7 percent. The commercials are Bearish with a score of 40.2 percent and the small traders (not shown in chart) are Bullish with a score of 77.8 percent.

SOYBEAN OIL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	27.4	47.5	9.3
– Percent of Open Interest Shorts:	7.8	71.6	4.8
– Net Position:	75,041	-92,287	17,246
– Gross Longs:	105,091	181,857	35,597
– Gross Shorts:	30,050	274,144	18,351
– Long to Short Ratio:	3.5 to 1	0.7 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	57.7	40.2	77.8
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-19.3	21.0	-18.4

SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week resulted in a net position of 80,754 contracts in the data reported through Tuesday. This was a weekly decrease of -1,153 contracts from the previous week which had a total of 81,907 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 72.4 percent. The commercials are Bearish with a score of 26.1 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 81.4 percent.

SOYBEAN MEAL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	28.7	44.2	13.2
– Percent of Open Interest Shorts:	6.9	73.7	5.5
– Net Position:	80,754	-109,384	28,630
– Gross Longs:	106,453	163,966	48,928
– Gross Shorts:	25,699	273,350	20,298
– Long to Short Ratio:	4.1 to 1	0.6 to 1	2.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	72.4	26.1	81.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-23.4	23.7	-17.4

LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week resulted in a net position of 19,540 contracts in the data reported through Tuesday. This was a weekly decrease of -3,207 contracts from the previous week which had a total of 22,747 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 3.9 percent. The commercials are Bullish-Extreme with a score of 87.9 percent and the small traders (not shown in chart) are Bullish with a score of 78.4 percent.

LIVE CATTLE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	34.2	40.6	11.6
– Percent of Open Interest Shorts:	27.7	46.8	11.9
– Net Position:	19,540	-18,566	-974
– Gross Longs:	102,315	121,350	34,613
– Gross Shorts:	82,775	139,916	35,587
– Long to Short Ratio:	1.2 to 1	0.9 to 1	1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	3.9	87.9	78.4
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-43.9	37.4	26.6

LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week resulted in a net position of 9,217 contracts in the data reported through Tuesday. This was a weekly rise of 1,859 contracts from the previous week which had a total of 7,358 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 16.8 percent. The commercials are Bullish-Extreme with a score of 90.9 percent and the small traders (not shown in chart) are Bullish with a score of 60.2 percent.

LEAN HOGS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	29.6	42.0	9.7
– Percent of Open Interest Shorts:	24.8	43.2	13.3
– Net Position:	9,217	-2,209	-7,008
– Gross Longs:	57,323	81,465	18,708
– Gross Shorts:	48,106	83,674	25,716
– Long to Short Ratio:	1.2 to 1	1.0 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	16.8	90.9	60.2
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-36.8	42.6	-11.8

COTTON Futures:

The COTTON large speculator standing this week resulted in a net position of 70,684 contracts in the data reported through Tuesday. This was a weekly decline of -1,836 contracts from the previous week which had a total of 72,520 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 30.7 percent and the small traders (not shown in chart) are Bullish with a score of 76.7 percent.

COTTON Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	40.5	37.9	8.1
– Percent of Open Interest Shorts:	7.2	76.0	3.3
– Net Position:	70,684	-80,864	10,180
– Gross Longs:	85,974	80,446	17,230
– Gross Shorts:	15,290	161,310	7,050
– Long to Short Ratio:	5.6 to 1	0.5 to 1	2.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	67.7	30.7	76.7
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.2	10.1	-17.8

COCOA Futures:

The COCOA large speculator standing this week resulted in a net position of 10,153 contracts in the data reported through Tuesday. This was a weekly boost of 1,570 contracts from the previous week which had a total of 8,583 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 27.6 percent. The commercials are Bullish with a score of 72.0 percent and the small traders (not shown in chart) are Bearish with a score of 38.2 percent.

COCOA Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	30.4	43.0	5.5
– Percent of Open Interest Shorts:	27.1	47.7	4.2
– Net Position:	10,153	-14,322	4,169
– Gross Longs:	92,946	131,539	16,931
– Gross Shorts:	82,793	145,861	12,762
– Long to Short Ratio:	1.1 to 1	0.9 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	27.6	72.0	38.2
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-25.7	28.0	-25.8

WHEAT Futures:

The WHEAT large speculator standing this week resulted in a net position of 22,309 contracts in the data reported through Tuesday. This was a weekly decline of -4,035 contracts from the previous week which had a total of 26,344 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 48.1 percent. The commercials are Bearish with a score of 33.1 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 91.4 percent.

WHEAT Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	34.4	35.5	9.9
– Percent of Open Interest Shorts:	27.7	41.1	11.0
– Net Position:	22,309	-18,647	-3,662
– Gross Longs:	113,964	117,565	32,778
– Gross Shorts:	91,655	136,212	36,440
– 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):	48.1	33.1	91.4
– Strength Index Reading (3 Year Range):	Bearish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.2	2.5	-4.4

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Financial News Soft Commodities

04 Jun

COT Week 22 Charts: Energy Speculator Positions Mixed led by Heating Oil, Gasoline

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

The latest COT data is updated through Tuesday May 31st and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Energy market speculator bets were mixed this week as three out of the six energy markets we cover had higher positioning this week while three markets also had lower contracts. Leading the gains for energy were Heating Oil (6,319 contracts), Gasoline (1,265 contracts) and Natural Gas (1,202 contracts). Meanwhile, leading the declines in speculator bets this week were WTI Crude Oil (-1,785 contracts) and Brent Crude Oil (-1,583 contracts) with Bloomberg Commodity Index (-1,048 contracts) also registering lower bets on the week.

Strength scores (3-Year range of Speculator positions, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) show that the Bloomberg Commodity Index is above its midpoint for the past 3 years while all the other markets are below the 50 percent level.

Strength score trends (or move index, that show 6-week changes in strength scores) shows that heating oil, natural gas and WTI crude have had rising scores over the past six weeks.

Data Snapshot of Commodity Market Traders | Columns Legend

May-31-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,787,928	9	332,976	10	-373,761	91	40,785	72
Gold	513,722	18	172,589	5	-200,056	95	27,467	32
Silver	147,301	14	13,997	15	-23,861	99	9,864	6
Copper	189,923	19	-18,025	29	15,425	70	2,600	40
Palladium	6,538	1	-3,133	4	3,221	95	-88	39
Platinum	67,964	35	2,363	7	-6,501	96	4,138	20
Natural Gas	1,115,815	7	-110,368	45	59,679	50	50,689	100
Brent	181,699	25	-40,872	43	38,941	58	1,931	35
Heating Oil	248,966	15	121	43	-17,967	52	17,846	60
Soybeans	753,373	34	186,078	71	-158,757	34	-27,321	25
Corn	1,564,217	32	404,200	82	-353,348	22	-50,852	14
Coffee	214,170	8	43,015	76	-45,757	28	2,742	17
Sugar	848,463	11	201,680	78	-240,752	23	39,072	56
Wheat	331,136	11	22,309	48	-18,647	33	-3,662	91

WTI Crude Oil Futures:

The WTI Crude Oil Futures large speculator standing this week recorded a net position of 332,976 contracts in the data reported through Tuesday. This was a weekly fall of -1,785 contracts from the previous week which had a total of 334,761 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 91.0 percent and the small traders (not shown in chart) are Bullish with a score of 72.5 percent.

WTI Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.6	34.8	5.0
– Percent of Open Interest Shorts:	5.0	55.7	2.7
– Net Position:	332,976	-373,761	40,785
– Gross Longs:	421,683	622,867	89,200
– Gross Shorts:	88,707	996,628	48,415
– Long to Short Ratio:	4.8 to 1	0.6 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	9.9	91.0	72.5
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	8.9	-8.7	-3.9

Brent Crude Oil Futures:

The Brent Crude Oil Futures large speculator standing this week recorded a net position of -40,872 contracts in the data reported through Tuesday. This was a weekly lowering of -1,583 contracts from the previous week which had a total of -39,289 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 42.6 percent. The commercials are Bullish with a score of 58.0 percent and the small traders (not shown in chart) are Bearish with a score of 35.3 percent.

Brent Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	14.7	54.0	4.2
– Percent of Open Interest Shorts:	37.2	32.6	3.2
– Net Position:	-40,872	38,941	1,931
– Gross Longs:	26,712	98,147	7,700
– Gross Shorts:	67,584	59,206	5,769
– Long to Short Ratio:	0.4 to 1	1.7 to 1	1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	42.6	58.0	35.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-1.3	2.1	-6.9

Natural Gas Futures:

The Natural Gas Futures large speculator standing this week recorded a net position of -110,368 contracts in the data reported through Tuesday. This was a weekly gain of 1,202 contracts from the previous week which had a total of -111,570 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 Bearish with a score of 49.6 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 100.0 percent.

Natural Gas Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	20.5	37.4	6.8
– Percent of Open Interest Shorts:	30.4	32.0	2.3
– Net Position:	-110,368	59,679	50,689
– Gross Longs:	228,487	417,276	75,815
– Gross Shorts:	338,855	357,597	25,126
– Long to Short Ratio:	0.7 to 1	1.2 to 1	3.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	45.5	49.6	100.0
– Strength Index Reading (3 Year Range):	Bearish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	5.9	-7.1	6.6

Gasoline Blendstock Futures:

The Gasoline Blendstock Futures large speculator standing this week recorded a net position of 33,690 contracts in the data reported through Tuesday. This was a weekly advance of 1,265 contracts from the previous week which had a total of 32,425 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 4.4 percent. The commercials are Bullish-Extreme with a score of 91.0 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 94.9 percent.

Nasdaq Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.7	53.9	7.7
– Percent of Open Interest Shorts:	13.8	68.9	3.7
– Net Position:	33,690	-46,032	12,342
– Gross Longs:	76,089	165,784	23,735
– Gross Shorts:	42,399	211,816	11,393
– Long to Short Ratio:	1.8 to 1	0.8 to 1	2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	4.4	91.0	94.9
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.0	4.9	26.7

#2 Heating Oil NY-Harbor Futures:

The #2 Heating Oil NY-Harbor Futures large speculator standing this week recorded a net position of 121 contracts in the data reported through Tuesday. This was a weekly advance of 6,319 contracts from the previous week which had a total of -6,198 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 42.6 percent. The commercials are Bullish with a score of 52.1 percent and the small traders (not shown in chart) are Bullish with a score of 60.2 percent.

Heating Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	17.4	49.7	16.7
– Percent of Open Interest Shorts:	17.4	56.9	9.5
– Net Position:	121	-17,967	17,846
– Gross Longs:	43,360	123,782	41,618
– Gross Shorts:	43,239	141,749	23,772
– Long to Short Ratio:	1.0 to 1	0.9 to 1	1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	42.6	52.1	60.2
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	13.5	-7.4	-7.8

Bloomberg Commodity Index Futures:

The Bloomberg Commodity Index Futures large speculator standing this week recorded a net position of -10,561 contracts in the data reported through Tuesday. This was a weekly reduction of -1,048 contracts from the previous week which had a total of -9,513 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 67.1 percent. The commercials are Bearish with a score of 31.9 percent and the small traders (not shown in chart) are Bearish with a score of 38.5 percent.

Bloomberg Index Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	63.6	28.5	1.9
– Percent of Open Interest Shorts:	93.7	0.0	0.4
– Net Position:	-10,561	10,027	534
– Gross Longs:	22,382	10,027	679
– Gross Shorts:	32,943	0	145
– Long to Short Ratio:	0.7 to 1	inf to 1	4.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	67.1	31.9	38.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-6.8	7.7	-7.6

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Energy Financial News

28 May

Currency Speculators reboot their Euro bullish bets to a 6-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 May 24th 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.

Click to Enlarge

Highlighting the COT currency data is the bounce-back for the Euro currency futures contracts. Euro speculative positions jumped by over +18,000 contracts this week and rose for a third consecutive week. This week marked the second time in the past three weeks that speculator positions increased by more than +18,000 contracts (+22,907 contracts on May 10th) and now Euro bets have gained by a total of +45,308 contracts over the past three weeks. The speculator’s bullish position marks the highest standing of the past six weeks at +38,930 contracts.

Euro speculator positions had recently fallen into a bearish speculative level on May 3rd (-6,378 contracts) after dropping by a total of -45,438 contracts from April 19th to May 3rd. This was the first bearish position for the Euro since early January. The speculator sentiment has been weaker so far in 2022 compared to preceding years as Euro bets are averaging just +29,199 weekly contracts in 2022. This compares to the Euro bets average of +60,837 weekly contracts over 2021 and an average of +92,464 weekly contracts over 2020.

The recent improvement in Euro positions comes amid increasing expectations for the European Central Bank to start raising interest rates higher and end their negative interest rate regime in the third quarter. The Euro exchange rate recently hit its lowest level versus the US Dollar since January of 2017 with a drop to approximately 1.350 (EUR/USD) on May 13th. Since then, the Euro has rallied over the past couple of weeks and closed Friday at the 1.0733 exchange rate.

Overall, the currencies with higher speculator bets this week were the Euro (18,591 contracts), US Dollar Index (1,826 contracts), Japanese yen (2,865 contracts), Brazil real (619 contracts), Canadian dollar (1,809 contracts), Mexican peso (1,577 contracts) and Bitcoin (43 contracts).

The currencies with declining bets were the Australian dollar (-804 contracts), Swiss franc (-3,081 contracts), British pound sterling (-1,131 contracts) and the New Zealand dollar (-1,554 contracts).

Speculator strength standings for each market 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

May-24-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
USD Index	61,857	93	38,039	91	-40,877	7	2,838	48
EUR	708,938	86	38,930	47	-72,600	55	33,670	30
GBP	253,864	73	-80,372	16	97,042	87	-16,670	21
JPY	237,256	80	-99,444	8	106,699	88	-7,255	39
CHF	49,918	38	-19,673	31	31,694	76	-12,021	17
CAD	138,508	22	-12,687	30	6,933	71	5,754	41
AUD	158,615	51	-45,446	43	53,269	59	-7,823	33
NZD	59,279	61	-19,321	39	22,703	65	-3,382	13
MXN	177,125	39	29,792	40	-34,352	58	4,560	62
RUB	20,930	4	7,543	31	-7,150	69	-393	24
BRL	63,976	59	38,714	88	-40,501	12	1,787	86
Bitcoin	11,729	64	849	100	-817	0	-32	12

US Dollar Index Futures:

The US Dollar Index large speculator standing this week was a net position of 38,039 contracts in the data reported through Tuesday. This was a weekly gain of 1,826 contracts from the previous week which had a total of 36,213 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 91.4 percent. The commercials are Bearish-Extreme with a score of 6.7 percent and the small traders (not shown in chart) are Bearish with a score of 47.6 percent.

US DOLLAR INDEX Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	86.8	3.5	8.2
– Percent of Open Interest Shorts:	25.3	69.6	3.6
– Net Position:	38,039	-40,877	2,838
– Gross Longs:	53,675	2,157	5,076
– Gross Shorts:	15,636	43,034	2,238
– Long to Short Ratio:	3.4 to 1	0.1 to 1	2.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	91.4	6.7	47.6
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	14.5	-8.0	-39.1

Euro Currency Futures:

The Euro Currency large speculator standing this week was a net position of 38,930 contracts in the data reported through Tuesday. This was a weekly lift of 18,591 contracts from the previous week which had a total of 20,339 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 47.0 percent. The commercials are Bullish with a score of 55.4 percent and the small traders (not shown in chart) are Bearish with a score of 30.2 percent.

EURO Currency Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	33.4	51.7	12.4
– Percent of Open Interest Shorts:	27.9	61.9	7.6
– Net Position:	38,930	-72,600	33,670
– Gross Longs:	237,072	366,345	87,892
– Gross Shorts:	198,142	438,945	54,222
– Long to Short Ratio:	1.2 to 1	0.8 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	47.0	55.4	30.2
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-0.0	-3.4	19.8

British Pound Sterling Futures:

The British Pound Sterling large speculator standing this week was a net position of -80,372 contracts in the data reported through Tuesday. This was a weekly decline of -1,131 contracts from the previous week which had a total of -79,241 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 16.1 percent. The commercials are Bullish-Extreme with a score of 87.1 percent and the small traders (not shown in chart) are Bearish with a score of 21.1 percent.

BRITISH POUND Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	10.2	80.3	7.5
– Percent of Open Interest Shorts:	41.9	42.1	14.1
– Net Position:	-80,372	97,042	-16,670
– Gross Longs:	25,936	203,802	19,107
– Gross Shorts:	106,308	106,760	35,777
– 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):	16.1	87.1	21.1
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-19.7	15.4	2.5

Japanese Yen Futures:

The Japanese Yen large speculator standing this week was a net position of -99,444 contracts in the data reported through Tuesday. This was a weekly lift of 2,865 contracts from the previous week which had a total of -102,309 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 7.6 percent. The commercials are Bullish-Extreme with a score of 87.7 percent and the small traders (not shown in chart) are Bearish with a score of 38.7 percent.

JAPANESE YEN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	7.0	81.0	10.5
– Percent of Open Interest Shorts:	48.9	36.0	13.5
– Net Position:	-99,444	106,699	-7,255
– Gross Longs:	16,567	192,215	24,858
– Gross Shorts:	116,011	85,516	32,113
– Long to Short Ratio:	0.1 to 1	2.2 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	7.6	87.7	38.7
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.6	-12.3	26.0

Swiss Franc Futures:

The Swiss Franc large speculator standing this week was a net position of -19,673 contracts in the data reported through Tuesday. This was a weekly fall of -3,081 contracts from the previous week which had a total of -16,592 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 30.8 percent. The commercials are Bullish with a score of 76.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 16.8 percent.

SWISS FRANC Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	2.7	80.0	16.6
– Percent of Open Interest Shorts:	42.1	16.5	40.7
– Net Position:	-19,673	31,694	-12,021
– Gross Longs:	1,355	39,913	8,308
– Gross Shorts:	21,028	8,219	20,329
– Long to Short Ratio:	0.1 to 1	4.9 to 1	0.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	30.8	76.2	16.8
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-10.8	12.1	-12.4

Canadian Dollar Futures:

The Canadian Dollar large speculator standing this week was a net position of -12,687 contracts in the data reported through Tuesday. This was a weekly increase of 1,809 contracts from the previous week which had a total of -14,496 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 Bearish with a score of 30.4 percent. The commercials are Bullish with a score of 71.1 percent and the small traders (not shown in chart) are Bearish with a score of 41.2 percent.

CANADIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	20.9	54.1	23.1
– Percent of Open Interest Shorts:	30.1	49.1	19.0
– Net Position:	-12,687	6,933	5,754
– Gross Longs:	28,999	74,953	32,048
– Gross Shorts:	41,686	68,020	26,294
– Long to Short Ratio:	0.7 to 1	1.1 to 1	1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	30.4	71.1	41.2
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-25.9	32.1	-30.9

Australian Dollar Futures:

The Australian Dollar large speculator standing this week was a net position of -45,446 contracts in the data reported through Tuesday. This was a weekly fall of -804 contracts from the previous week which had a total of -44,642 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 42.7 percent. The commercials are Bullish with a score of 58.6 percent and the small traders (not shown in chart) are Bearish with a score of 33.4 percent.

AUSTRALIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.1	62.7	11.7
– Percent of Open Interest Shorts:	51.7	29.1	16.7
– Net Position:	-45,446	53,269	-7,823
– Gross Longs:	36,579	99,401	18,615
– Gross Shorts:	82,025	46,132	26,438
– 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):	42.7	58.6	33.4
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-15.5	26.4	-45.5

New Zealand Dollar Futures:

The New Zealand Dollar large speculator standing this week was a net position of -19,321 contracts in the data reported through Tuesday. This was a weekly fall of -1,554 contracts from the previous week which had a total of -17,767 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 Bearish with a score of 38.8 percent. The commercials are Bullish with a score of 65.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 13.1 percent.

NEW ZEALAND DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	18.1	76.7	3.7
– Percent of Open Interest Shorts:	50.7	38.4	9.4
– Net Position:	-19,321	22,703	-3,382
– Gross Longs:	10,749	45,458	2,202
– Gross Shorts:	30,070	22,755	5,584
– Long to Short Ratio:	0.4 to 1	2.0 to 1	0.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	38.8	65.4	13.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-31.9	35.7	-46.9

Mexican Peso Futures:

The Mexican Peso large speculator standing this week was a net position of 29,792 contracts in the data reported through Tuesday. This was a weekly advance of 1,577 contracts from the previous week which had a total of 28,215 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 40.1 percent. The commercials are Bullish with a score of 58.5 percent and the small traders (not shown in chart) are Bullish with a score of 62.4 percent.

MEXICAN PESO Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	46.9	47.7	4.3
– Percent of Open Interest Shorts:	30.1	67.1	1.7
– Net Position:	29,792	-34,352	4,560
– Gross Longs:	83,031	84,474	7,605
– Gross Shorts:	53,239	118,826	3,045
– Long to Short Ratio:	1.6 to 1	0.7 to 1	2.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	40.1	58.5	62.4
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	6.3	-6.2	-0.1

Brazilian Real Futures:

The Brazilian Real large speculator standing this week was a net position of 38,714 contracts in the data reported through Tuesday. This was a weekly advance of 619 contracts from the previous week which had a total of 38,095 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 88.4 percent. The commercials are Bearish-Extreme with a score of 11.8 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 85.7 percent.

BRAZIL REAL Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	70.5	22.1	6.0
– Percent of Open Interest Shorts:	9.9	85.4	3.2
– Net Position:	38,714	-40,501	1,787
– Gross Longs:	45,076	14,132	3,826
– Gross Shorts:	6,362	54,633	2,039
– Long to Short Ratio:	7.1 to 1	0.3 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	88.4	11.8	85.7
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.3	8.2	-12.2

Bitcoin Futures:

The Bitcoin large speculator standing this week was a net position of 849 contracts in the data reported through Tuesday. This was a weekly advance of 43 contracts from the previous week which had a total of 806 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 100.0 percent. The commercials are Bearish-Extreme with a score of 3.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 12.2 percent.

BITCOIN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	82.9	1.2	9.1
– Percent of Open Interest Shorts:	75.7	8.2	9.4
– Net Position:	849	-817	-32
– Gross Longs:	9,723	141	1,072
– Gross Shorts:	8,874	958	1,104
– Long to Short Ratio:	1.1 to 1	0.1 to 1	1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	100.0	3.6	12.2
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	13.0	-23.6	-6.9

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Forex and Currency News investing Opinions

28 May

COT Metals Speculators raise bets for Copper and Gold after multi-week slides

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

The latest COT data is updated through Tuesday May 24th 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 bounce-back in Gold and Copper speculator bets after multiple down weeks for both of these metals. Copper positions saw a small turnaround with a +4,775 contract gain this week after falling for six consecutive weeks which amounted to a total drop by -60,550 net positions from April 12th to May 17th. Copper has been particularly hard hit by the lockdowns in China and the effect that it has had on the industrial and manufacturing economy there. Copper speculator bets have now been oscillating at the lowest levels in approximately two years.

Gold positions, meanwhile, rose by +8,453 contracts this week after declining in the previous five weeks and by a total of -78,927 contracts in that period. Gold bullish bets are under the +200,000 net contract level for a fourth straight week after spending the previous ten weeks above that threshold. Currently in 2022, Gold positions are averaging +221,416 weekly contracts so far compared to an average of +204,623 weekly contracts over 2021 and an average of +262,052 weekly contracts over 2020.

Overall, the markets with higher speculator bets this week were Gold (8,453 contracts) and Copper (4,775 contracts) while the markets with declining speculator bets this week were Silver (-2,011 contracts), Platinum (-718 contracts) and Palladium (-257 contracts).

Speculator strength standings for each market 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

May-24-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,711,863	0	334,761	11	-374,627	91	39,866	71
Gold	530,098	22	183,813	14	-211,947	82	28,134	37
Silver	146,456	13	14,103	26	-23,297	88	9,194	3
Copper	186,433	17	-19,633	28	19,288	73	345	27
Palladium	7,919	7	-3,472	2	3,800	98	-328	25
Platinum	65,824	32	1,485	5	-6,683	96	5,198	34
Natural Gas	1,107,496	6	-111,570	45	63,847	51	47,723	93
Brent	183,629	27	-39,289	45	37,488	56	1,801	34
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	729,900	28	188,368	72	-159,047	34	-29,321	21
Corn	1,544,885	29	427,848	85	-372,522	19	-55,326	11
Coffee	211,266	5	37,072	71	-38,484	34	1,412	4
Sugar	847,420	11	209,487	80	-255,450	20	45,963	65
Wheat	326,607	8	26,344	53	-24,339	25	-2,005	100

Gold Comex Futures:

The Gold Comex Futures large speculator standing this week was a net position of 183,813 contracts in the data reported through Tuesday. This was a weekly boost of 8,453 contracts from the previous week which had a total of 175,360 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 14.0 percent. The commercials are Bullish-Extreme with a score of 81.5 percent and the small traders (not shown in chart) are Bearish with a score of 37.2 percent.

Gold Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	53.2	24.6	8.9
– Percent of Open Interest Shorts:	18.6	64.6	3.6
– Net Position:	183,813	-211,947	28,134
– Gross Longs:	282,202	130,364	47,411
– Gross Shorts:	98,389	342,311	19,277
– Long to Short Ratio:	2.9 to 1	0.4 to 1	2.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	14.0	81.5	37.2
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-35.7	35.7	-18.1

Silver Comex Futures:

The Silver Comex Futures large speculator standing this week was a net position of 14,103 contracts in the data reported through Tuesday. This was a weekly reduction of -2,011 contracts from the previous week which had a total of 16,114 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 26.1 percent. The commercials are Bullish-Extreme with a score of 87.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 2.6 percent.

Silver Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	40.1	38.9	15.7
– Percent of Open Interest Shorts:	30.5	54.8	9.5
– Net Position:	14,103	-23,297	9,194
– Gross Longs:	58,748	56,910	23,064
– Gross Shorts:	44,645	80,207	13,870
– Long to Short Ratio:	1.3 to 1	0.7 to 1	1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	26.1	87.6	2.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-36.9	45.6	-46.6

Copper Grade #1 Futures:

The Copper Grade #1 Futures large speculator standing this week was a net position of -19,633 contracts in the data reported through Tuesday. This was a weekly gain of 4,775 contracts from the previous week which had a total of -24,408 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 28.2 percent. The commercials are Bullish with a score of 72.7 percent and the small traders (not shown in chart) are Bearish with a score of 27.3 percent.

Copper Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	29.0	53.3	8.0
– Percent of Open Interest Shorts:	39.6	42.9	7.9
– Net Position:	-19,633	19,288	345
– Gross Longs:	54,130	99,318	14,993
– Gross Shorts:	73,763	80,030	14,648
– Long to Short Ratio:	0.7 to 1	1.2 to 1	1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	28.2	72.7	27.3
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-30.9	33.4	-32.1

Platinum Futures:

The Platinum Futures large speculator standing this week was a net position of 1,485 contracts in the data reported through Tuesday. This was a weekly reduction of -718 contracts from the previous week which had a total of 2,203 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 5.5 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 34.5 percent.

Platinum Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	39.6	41.0	13.0
– Percent of Open Interest Shorts:	37.3	51.2	5.1
– Net Position:	1,485	-6,683	5,198
– Gross Longs:	26,052	27,002	8,533
– Gross Shorts:	24,567	33,685	3,335
– Long to Short Ratio:	1.1 to 1	0.8 to 1	2.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	5.5	95.8	34.5
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.0	9.0	-22.7

Palladium Futures:

The Palladium Futures large speculator standing this week was a net position of -3,472 contracts in the data reported through Tuesday. This was a weekly decline of -257 contracts from the previous week which had a total of -3,215 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 1.7 percent. The commercials are Bullish-Extreme with a score of 98.1 percent and the small traders (not shown in chart) are Bearish with a score of 24.9 percent.

Palladium Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	9.2	70.1	12.3
– Percent of Open Interest Shorts:	53.0	22.2	16.4
– Net Position:	-3,472	3,800	-328
– Gross Longs:	729	5,555	974
– Gross Shorts:	4,201	1,755	1,302
– Long to Short Ratio:	0.2 to 1	3.2 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	1.7	98.1	24.9
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-8.2	13.7	-55.5

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog investing Metals Opinions

28 May

COT Week 21 Charts: Bonds Speculator bets mostly lower this week

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

The latest COT data is updated through Tuesday May 24th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

COT bonds market speculator bets were mostly lower this week as only three out of the eight bond markets we cover had higher positioning this week while five markets saw lower positions. Leading the gains for bonds was the 5-Year Bond (139,697 contracts) and the 2-Year Bond (99,344 contracts) with the Eurodollar (41,671 contracts) also showing a positive week. Meanwhile, leading the declines in speculator bets this week were the 10-Year Bond (-65,033 contracts) and the Ultra US Bond (-13,336 contracts) with the Ultra 10-Year (-1,088 contracts), Long US Bond (-3,505 contracts) and the Fed Funds (-6,524 contracts) also coming in with lower bets on the week.

Speculator strength standings for each Bond Market 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 Bond Market Traders | Columns Legend

May-24-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
Eurodollar	10,441,566	33	-2,832,780	1	3,227,860	99	-395,080	17
FedFunds	1,859,067	65	42,491	45	-38,493	55	-3,998	50
2-Year	2,526,000	32	-35,293	75	106,854	43	-71,561	19
Long T-Bond	1,267,244	60	28,502	94	-11,224	17	-17,278	39
10-Year	3,662,628	41	-225,124	38	376,665	67	-151,541	44
5-Year	4,011,412	52	-120,527	62	292,048	49	-171,521	34

3-Month Eurodollars Futures:

The 3-Month Eurodollars large speculator standing this week resulted in a net position of -2,832,780 contracts in the data reported through Tuesday. This was a weekly increase of 41,671 contracts from the previous week which had a total of -2,874,451 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 0.8 percent. The commercials are Bullish-Extreme with a score of 98.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 17.5 percent.

3-Month Eurodollars Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	3.4	75.4	3.7
– Percent of Open Interest Shorts:	30.5	44.5	7.5
– Net Position:	-2,832,780	3,227,860	-395,080
– Gross Longs:	351,909	7,877,754	384,474
– Gross Shorts:	3,184,689	4,649,894	779,554
– Long to Short Ratio:	0.1 to 1	1.7 to 1	0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	0.8	98.7	17.5
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-3.5	3.1	3.7

30-Day Federal Funds Futures:

The 30-Day Federal Funds large speculator standing this week resulted in a net position of 42,491 contracts in the data reported through Tuesday. This was a weekly fall of -6,524 contracts from the previous week which had a total of 49,015 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 44.9 percent. The commercials are Bullish with a score of 55.2 percent and the small traders (not shown in chart) are Bearish with a score of 49.5 percent.

30-Day Federal Funds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	6.4	75.5	2.1
– Percent of Open Interest Shorts:	4.1	77.5	2.3
– Net Position:	42,491	-38,493	-3,998
– Gross Longs:	119,202	1,403,144	39,289
– Gross Shorts:	76,711	1,441,637	43,287
– Long to Short Ratio:	1.6 to 1	1.0 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	44.9	55.2	49.5
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	1.0	-2.6	33.5

2-Year Treasury Note Futures:

The 2-Year Treasury Note large speculator standing this week resulted in a net position of -35,293 contracts in the data reported through Tuesday. This was a weekly boost of 99,344 contracts from the previous week which had a total of -134,637 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 75.1 percent. The commercials are Bearish with a score of 43.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 18.8 percent.

2-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	14.3	73.0	5.8
– Percent of Open Interest Shorts:	15.7	68.8	8.7
– Net Position:	-35,293	106,854	-71,561
– Gross Longs:	361,614	1,845,029	147,143
– Gross Shorts:	396,907	1,738,175	218,704
– Long to Short Ratio:	0.9 to 1	1.1 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	75.1	43.2	18.8
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	11.2	-11.4	-1.5

5-Year Treasury Note Futures:

The 5-Year Treasury Note large speculator standing this week resulted in a net position of -120,527 contracts in the data reported through Tuesday. This was a weekly rise of 139,697 contracts from the previous week which had a total of -260,224 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 62.1 percent. The commercials are Bearish with a score of 48.9 percent and the small traders (not shown in chart) are Bearish with a score of 33.9 percent.

5-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	10.1	77.1	9.7
– Percent of Open Interest Shorts:	13.1	69.8	14.0
– Net Position:	-120,527	292,048	-171,521
– Gross Longs:	405,475	3,093,412	388,207
– Gross Shorts:	526,002	2,801,364	559,728
– Long to Short Ratio:	0.8 to 1	1.1 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	62.1	48.9	33.9
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	37.6	-30.6	10.2

10-Year Treasury Note Futures:

The 10-Year Treasury Note large speculator standing this week resulted in a net position of -225,124 contracts in the data reported through Tuesday. This was a weekly decrease of -65,033 contracts from the previous week which had a total of -160,091 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 38.2 percent. The commercials are Bullish with a score of 66.6 percent and the small traders (not shown in chart) are Bearish with a score of 43.8 percent.

10-Year Treasury Note Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	7.5	77.4	9.7
– Percent of Open Interest Shorts:	13.6	67.1	13.8
– Net Position:	-225,124	376,665	-151,541
– Gross Longs:	273,667	2,834,111	354,203
– Gross Shorts:	498,791	2,457,446	505,744
– Long to Short Ratio:	0.5 to 1	1.2 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	38.2	66.6	43.8
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	11.4	-14.4	11.0

Ultra 10-Year Notes Futures:

The Ultra 10-Year Notes large speculator standing this week resulted in a net position of -98,925 contracts in the data reported through Tuesday. This was a weekly fall of -1,088 contracts from the previous week which had a total of -97,837 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 3.1 percent. The commercials are Bullish-Extreme with a score of 94.6 percent and the small traders (not shown in chart) are Bearish with a score of 47.9 percent.

Ultra 10-Year Notes Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	5.3	80.9	11.9
– Percent of Open Interest Shorts:	13.0	64.5	20.7
– Net Position:	-98,925	211,834	-112,909
– Gross Longs:	68,305	1,044,490	153,665
– Gross Shorts:	167,230	832,656	266,574
– Long to Short Ratio:	0.4 to 1	1.3 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	3.1	94.6	47.9
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.3	0.3	20.8

US Treasury Bonds Futures:

The US Treasury Bonds large speculator standing this week resulted in a net position of 28,502 contracts in the data reported through Tuesday. This was a weekly fall of -3,505 contracts from the previous week which had a total of 32,007 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 93.9 percent. The commercials are Bearish-Extreme with a score of 16.6 percent and the small traders (not shown in chart) are Bearish with a score of 38.9 percent.

US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	11.2	72.8	14.0
– Percent of Open Interest Shorts:	8.9	73.7	15.4
– Net Position:	28,502	-11,224	-17,278
– Gross Longs:	141,452	922,729	177,518
– Gross Shorts:	112,950	933,953	194,796
– Long to Short Ratio:	1.3 to 1	1.0 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	93.9	16.6	38.9
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	11.0	-7.5	-7.9

Ultra US Treasury Bonds Futures:

The Ultra US Treasury Bonds large speculator standing this week resulted in a net position of -307,895 contracts in the data reported through Tuesday. This was a weekly fall of -13,336 contracts from the previous week which had a total of -294,559 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 59.6 percent. The commercials are Bullish with a score of 57.0 percent and the small traders (not shown in chart) are Bearish with a score of 40.9 percent.

Ultra US Treasury Bonds Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	3.6	81.8	11.6
– Percent of Open Interest Shorts:	25.8	60.9	10.3
– Net Position:	-307,895	290,252	17,643
– Gross Longs:	50,153	1,136,228	161,147
– Gross Shorts:	358,048	845,976	143,504
– Long to Short Ratio:	0.1 to 1	1.3 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	59.6	57.0	40.9
– Strength Index Reading (3 Year Range):	Bullish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	10.2	-7.2	-7.3

Article By InvestMacro – Receive our weekly COT Reports by Email

Bonds CountingPips Forex Blog Financial News

28 May

COT Week 21 Charts: Soft Commodities Speculator bets mostly lower led by Corn & Soybean Oil

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

The latest COT data is updated through Tuesday May 24th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Soft Commodities market speculator bets were mostly lower this week as only three out of the eleven softs markets we cover had higher positioning this week while eight markets saw lower positions. Leading the gains for the soft commodities was Sugar (12,857 contracts) and Soybean Meal (8,607 contracts) with Soybeans (4,721 contracts) also showing a positive week. Meanwhile, leading the declines in speculator bets this week were Corn (-45,895 contracts) and Soybean Oil (-16,805 contracts) with Coffee (-1,415 contracts), Live Cattle (-12,283 contracts), Lean Hogs (-407 contracts), Cotton (-6,796 contracts), Cocoa (-10,000 contracts), and Wheat (-2,462 contracts) also coming in with 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

May-24-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,711,863	0	334,761	11	-374,627	91	39,866	71
Gold	530,098	22	183,813	14	-211,947	82	28,134	37
Silver	146,456	13	14,103	26	-23,297	88	9,194	3
Copper	186,433	17	-19,633	28	19,288	73	345	27
Palladium	7,919	7	-3,472	2	3,800	98	-328	25
Platinum	65,824	32	1,485	5	-6,683	96	5,198	34
Natural Gas	1,107,496	6	-111,570	45	63,847	51	47,723	93
Brent	183,629	27	-39,289	45	37,488	56	1,801	34
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	729,900	28	188,368	72	-159,047	34	-29,321	21
Corn	1,544,885	29	427,848	85	-372,522	19	-55,326	11
Coffee	211,266	5	37,072	71	-38,484	34	1,412	4
Sugar	847,420	11	209,487	80	-255,450	20	45,963	65
Wheat	326,607	8	26,344	53	-24,339	25	-2,005	100

CORN Futures:

The CORN large speculator standing this week totaled a net position of 427,848 contracts in the data reported through Tuesday. This was a weekly fall of -45,895 contracts from the previous week which had a total of 473,743 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 84.7 percent. The commercials are Bearish-Extreme with a score of 18.9 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.2 percent.

CORN Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.5	42.5	9.1
– Percent of Open Interest Shorts:	8.8	66.7	12.7
– Net Position:	427,848	-372,522	-55,326
– Gross Longs:	563,850	657,258	140,433
– Gross Shorts:	136,002	1,029,780	195,759
– Long to Short Ratio:	4.1 to 1	0.6 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	84.7	18.9	11.2
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-8.7	10.1	-2.0

SUGAR Futures:

The SUGAR large speculator standing this week totaled a net position of 209,487 contracts in the data reported through Tuesday. This was a weekly increase of 12,857 contracts from the previous week which had a total of 196,630 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 79.7 percent. The commercials are Bearish-Extreme with a score of 19.7 percent and the small traders (not shown in chart) are Bullish with a score of 64.7 percent.

SUGAR Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	31.0	44.9	10.7
– Percent of Open Interest Shorts:	6.3	75.0	5.3
– Net Position:	209,487	-255,450	45,963
– Gross Longs:	262,661	380,523	90,969
– Gross Shorts:	53,174	635,973	45,006
– Long to Short Ratio:	4.9 to 1	0.6 to 1	2.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	79.7	19.7	64.7
– Strength Index Reading (3 Year Range):	Bullish	Bearish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-6.2	8.8	-19.5

COFFEE Futures:

The COFFEE large speculator standing this week totaled a net position of 37,072 contracts in the data reported through Tuesday. This was a weekly fall of -1,415 contracts from the previous week which had a total of 38,487 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 70.9 percent. The commercials are Bearish with a score of 34.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 4.1 percent.

COFFEE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	22.0	54.1	3.9
– Percent of Open Interest Shorts:	4.5	72.3	3.2
– Net Position:	37,072	-38,484	1,412
– Gross Longs:	46,580	114,208	8,167
– Gross Shorts:	9,508	152,692	6,755
– Long to Short Ratio:	4.9 to 1	0.7 to 1	1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	70.9	34.3	4.1
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.4	12.9	-33.9

SOYBEANS Futures:

The SOYBEANS large speculator standing this week totaled a net position of 188,368 contracts in the data reported through Tuesday. This was a weekly gain of 4,721 contracts from the previous week which had a total of 183,647 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 71.6 percent. The commercials are Bearish with a score of 34.3 percent and the small traders (not shown in chart) are Bearish with a score of 21.5 percent.

SOYBEANS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.4	47.3	6.8
– Percent of Open Interest Shorts:	6.5	69.1	10.8
– Net Position:	188,368	-159,047	-29,321
– Gross Longs:	236,164	345,076	49,551
– Gross Shorts:	47,796	504,123	78,872
– Long to Short Ratio:	4.9 to 1	0.7 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	71.6	34.3	21.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-3.0	3.3	-2.9

SOYBEAN OIL Futures:

The SOYBEAN OIL large speculator standing this week totaled a net position of 79,496 contracts in the data reported through Tuesday. This was a weekly decline of -16,805 contracts from the previous week which had a total of 96,301 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 60.6 percent. The commercials are Bearish with a score of 36.2 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 85.1 percent.

SOYBEAN OIL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	28.6	47.5	9.6
– Percent of Open Interest Shorts:	7.3	74.0	4.5
– Net Position:	79,496	-98,691	19,195
– Gross Longs:	106,705	177,213	35,857
– Gross Shorts:	27,209	275,904	16,662
– Long to Short Ratio:	3.9 to 1	0.6 to 1	2.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	60.6	36.2	85.1
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-12.0	12.2	-6.0

SOYBEAN MEAL Futures:

The SOYBEAN MEAL large speculator standing this week totaled a net position of 81,907 contracts in the data reported through Tuesday. This was a weekly boost of 8,607 contracts from the previous week which had a total of 73,300 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 73.1 percent. The commercials are Bearish with a score of 26.6 percent and the small traders (not shown in chart) are Bullish with a score of 70.5 percent.

SOYBEAN MEAL Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	28.5	46.5	13.6
– Percent of Open Interest Shorts:	5.7	76.6	6.2
– Net Position:	81,907	-108,388	26,481
– Gross Longs:	102,564	167,414	48,827
– Gross Shorts:	20,657	275,802	22,346
– Long to Short Ratio:	5.0 to 1	0.6 to 1	2.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	73.1	26.6	70.5
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-19.1	20.7	-27.9

LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week totaled a net position of 22,747 contracts in the data reported through Tuesday. This was a weekly fall of -12,283 contracts from the previous week which had a total of 35,030 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 7.9 percent. The commercials are Bullish-Extreme with a score of 83.0 percent and the small traders (not shown in chart) are Bullish with a score of 79.7 percent.

LIVE CATTLE Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	33.7	41.3	11.5
– Percent of Open Interest Shorts:	26.1	48.8	11.7
– Net Position:	22,747	-22,153	-594
– Gross Longs:	99,928	122,357	34,015
– Gross Shorts:	77,181	144,510	34,609
– Long to Short Ratio:	1.3 to 1	0.8 to 1	1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	7.9	83.0	79.7
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-36.5	29.0	27.5

LEAN HOGS Futures:

The LEAN HOGS large speculator standing this week totaled a net position of 7,358 contracts in the data reported through Tuesday. This was a weekly reduction of -407 contracts from the previous week which had a total of 7,765 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-Extreme with a score of 14.8 percent. The commercials are Bullish-Extreme with a score of 92.0 percent and the small traders (not shown in chart) are Bullish with a score of 64.8 percent.

LEAN HOGS Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	28.3	41.7	10.2
– Percent of Open Interest Shorts:	24.6	42.3	13.3
– Net Position:	7,358	-1,239	-6,119
– Gross Longs:	55,555	81,805	19,958
– Gross Shorts:	48,197	83,044	26,077
– Long to Short Ratio:	1.2 to 1	1.0 to 1	0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	14.8	92.0	64.8
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-36.4	40.7	-5.5

COTTON Futures:

The COTTON large speculator standing this week totaled a net position of 72,520 contracts in the data reported through Tuesday. This was a weekly lowering of -6,796 contracts from the previous week which had a total of 79,316 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 68.9 percent. The commercials are Bearish with a score of 29.2 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 82.0 percent.

COTTON Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	42.5	36.7	8.6
– Percent of Open Interest Shorts:	7.0	77.5	3.2
– Net Position:	72,520	-83,537	11,017
– Gross Longs:	86,947	75,106	17,532
– Gross Shorts:	14,427	158,643	6,515
– Long to Short Ratio:	6.0 to 1	0.5 to 1	2.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	68.9	29.2	82.0
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-6.8	7.7	-15.5

COCOA Futures:

The COCOA large speculator standing this week totaled a net position of 8,583 contracts in the data reported through Tuesday. This was a weekly decline of -10,000 contracts from the previous week which had a total of 18,583 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 26.0 percent. The commercials are Bullish with a score of 72.7 percent and the small traders (not shown in chart) are Bearish with a score of 46.1 percent.

COCOA Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	29.9	44.5	5.6
– Percent of Open Interest Shorts:	27.0	49.0	4.0
– Net Position:	8,583	-13,540	4,957
– Gross Longs:	89,159	132,424	16,784
– Gross Shorts:	80,576	145,964	11,827
– 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):	26.0	72.7	46.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-30.0	32.2	-25.0

WHEAT Futures:

The WHEAT large speculator standing this week totaled a net position of 26,344 contracts in the data reported through Tuesday. This was a weekly fall of -2,462 contracts from the previous week which had a total of 28,806 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 53.3 percent. The commercials are Bearish with a score of 25.1 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 100.0 percent.

WHEAT Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	36.2	35.4	10.3
– Percent of Open Interest Shorts:	28.1	42.9	10.9
– Net Position:	26,344	-24,339	-2,005
– Gross Longs:	118,170	115,722	33,634
– Gross Shorts:	91,826	140,061	35,639
– Long to Short Ratio:	1.3 to 1	0.8 to 1	0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	53.3	25.1	100.0
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	3.2	-4.4	3.2

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Financial News Soft Commodities

28 May

COT Week 21 Charts: Energy Speculator Positions Mixed

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

The latest COT data is updated through Tuesday May 24th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Energy market speculator bets were mixed this week as three out of the six energy markets we cover had higher positioning this week while three markets had lower contracts. Leading the gains for energy was WTI Crude Oil (9,124 contracts) and Natural Gas (3,442 contracts) with the Bloomberg Commodity Index (126 contracts) also showing a positive week. Meanwhile, leading the declines in speculator bets this week were Heating Oil (-9,228 contracts) and Brent Crude Oil (-4,422 contracts) with Gasoline (-1,373 contracts) also registering 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

May-24-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
WTI Crude	1,711,863	0	334,761	11	-374,627	91	39,866	71
Gold	530,098	22	183,813	14	-211,947	82	28,134	37
Silver	146,456	13	14,103	26	-23,297	88	9,194	3
Copper	186,433	17	-19,633	28	19,288	73	345	27
Palladium	7,919	7	-3,472	2	3,800	98	-328	25
Platinum	65,824	32	1,485	5	-6,683	96	5,198	34
Natural Gas	1,107,496	6	-111,570	45	63,847	51	47,723	93
Brent	183,629	27	-39,289	45	37,488	56	1,801	34
Heating Oil	349,618	31	6,455	52	-32,434	37	25,979	88
Soybeans	729,900	28	188,368	72	-159,047	34	-29,321	21
Corn	1,544,885	29	427,848	85	-372,522	19	-55,326	11
Coffee	211,266	5	37,072	71	-38,484	34	1,412	4
Sugar	847,420	11	209,487	80	-255,450	20	45,963	65
Wheat	326,607	8	26,344	53	-24,339	25	-2,005	100

WTI Crude Oil Futures:

The WTI Crude Oil Futures large speculator standing this week was a net position of 334,761 contracts in the data reported through Tuesday. This was a weekly increase of 9,124 contracts from the previous week which had a total of 325,637 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 10.5 percent. The commercials are Bullish-Extreme with a score of 90.7 percent and the small traders (not shown in chart) are Bullish with a score of 71.2 percent.

WTI Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.7	34.1	5.0
– Percent of Open Interest Shorts:	5.1	56.0	2.7
– Net Position:	334,761	-374,627	39,866
– Gross Longs:	422,541	584,496	86,091
– Gross Shorts:	87,780	959,123	46,225
– Long to Short Ratio:	4.8 to 1	0.6 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	10.5	90.7	71.2
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	10.5	-9.3	-8.4

Brent Crude Oil Futures:

The Brent Crude Oil Futures large speculator standing this week was a net position of -39,289 contracts in the data reported through Tuesday. This was a weekly decline of -4,422 contracts from the previous week which had a total of -34,867 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 Bearish with a score of 45.2 percent. The commercials are Bullish with a score of 55.6 percent and the small traders (not shown in chart) are Bearish with a score of 33.6 percent.

Brent Crude Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	14.8	52.6	3.7
– Percent of Open Interest Shorts:	36.2	32.2	2.7
– Net Position:	-39,289	37,488	1,801
– Gross Longs:	27,144	96,551	6,828
– Gross Shorts:	66,433	59,063	5,027
– Long to Short Ratio:	0.4 to 1	1.6 to 1	1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	45.2	55.6	33.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-5.0	5.9	-7.9

Natural Gas Futures:

The Natural Gas Futures large speculator standing this week was a net position of -111,570 contracts in the data reported through Tuesday. This was a weekly gain of 3,442 contracts from the previous week which had a total of -115,012 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 45.1 percent. The commercials are Bullish with a score of 51.0 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 93.0 percent.

Natural Gas Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	20.8	37.4	6.7
– Percent of Open Interest Shorts:	30.9	31.6	2.4
– Net Position:	-111,570	63,847	47,723
– Gross Longs:	230,219	413,701	74,555
– Gross Shorts:	341,789	349,854	26,832
– Long to Short Ratio:	0.7 to 1	1.2 to 1	2.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	45.1	51.0	93.0
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.8	-8.4	0.9

Gasoline Blendstock Futures:

The Gasoline Blendstock Futures large speculator standing this week was a net position of 32,425 contracts in the data reported through Tuesday. This was a weekly decrease of -1,373 contracts from the previous week which had a total of 33,798 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 3.1 percent. The commercials are Bullish-Extreme with a score of 93.4 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 87.1 percent.

Nasdaq Mini Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.4	55.0	7.6
– Percent of Open Interest Shorts:	12.9	69.1	4.0
– Net Position:	32,425	-43,599	11,174
– Gross Longs:	72,517	170,888	23,596
– Gross Shorts:	40,092	214,487	12,422
– Long to Short Ratio:	1.8 to 1	0.8 to 1	1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	3.1	93.4	87.1
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-9.1	6.6	16.3

#2 Heating Oil NY-Harbor Futures:

The #2 Heating Oil NY-Harbor Futures large speculator standing this week was a net position of 6,455 contracts in the data reported through Tuesday. This was a weekly lowering of -9,228 contracts from the previous week which had a total of 15,683 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 51.9 percent. The commercials are Bearish with a score of 36.7 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 88.4 percent.

Heating Oil Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	17.0	50.8	14.4
– Percent of Open Interest Shorts:	15.1	60.1	6.9
– Net Position:	6,455	-32,434	25,979
– Gross Longs:	59,340	177,626	50,210
– Gross Shorts:	52,885	210,060	24,231
– Long to Short Ratio:	1.1 to 1	0.8 to 1	2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	51.9	36.7	88.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	4.2	-10.3	23.6

Bloomberg Commodity Index Futures:

The Bloomberg Commodity Index Futures large speculator standing this week was a net position of -9,513 contracts in the data reported through Tuesday. This was a weekly gain of 126 contracts from the previous week which had a total of -9,639 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 71.1 percent. The commercials are Bearish with a score of 27.9 percent and the small traders (not shown in chart) are Bearish with a score of 37.4 percent.

Bloomberg Index Futures Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	65.8	26.2	1.8
– Percent of Open Interest Shorts:	93.5	0.0	0.4
– Net Position:	-9,513	9,010	503
– Gross Longs:	22,645	9,010	636
– Gross Shorts:	32,158	0	133
– Long to Short Ratio:	0.7 to 1	inf to 1	4.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	71.1	27.9	37.4
– Strength Index Reading (3 Year Range):	Bullish	Bearish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-2.8	3.4	-5.5

Article By InvestMacro – Receive our weekly COT Reports by Email

CountingPips Forex Blog Energy Financial News

22 May

Forex Speculators weaken Commodity Currency sentiment over last month

Click for larger image

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

The latest COT data is updated through Tuesday May 17th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets. 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 commodity currency speculator positions that have been on the defensive in recent weeks. Canadian dollar positions declined for a fourth straight week this week and have fallen by a total of -35,722 contracts over the past four weeks. This has pushed the overall speculator standing into a bearish position for a second straight week and to the most bearish level since October 2021. Previously, from the middle of January, CAD positions had started to trend higher and mostly maintained a bullish position into April, reaching a 40-week high on April 19th before seeing speculator sentiment weaken (-14,496 contracts this week).

Australian dollar spec positions slipped for a third straight week this week and the overall speculator position has now hit a 7-week low. Aussie positions have maintained a bearish speculator bias since last May (52 consecutive weeks in bearish territory) but had recently seen a reprieve of the weak sentiment. Aussie positions improved strongly from late-February to late-April with a 10-week contract rise of +59,043 positions from February 22nd to April 26th. The speculator positions hit the least bearish level (on April 26th) of the previous 42 weeks before these past 3 weeks has seen speculators re-up their bearish levels.

New Zealand dollar speculators also added to their bearish bets for a fourth straight week and have now pushed the position to the most bearish level since March 17th of 2020, a span of 113 weeks. Kiwi speculator positions had spent almost all of 2021 in bullish levels but spec bets started to falter at the end of the year and into the new year (through early March). Recently, positions had turned positive to bullish positioning in the middle of March and again later in April before turning lower in recent weeks. The NZD speculator sentiment has now been in bearish territory for the past three weeks after dropping by a total of -18,132 contracts from April 26th to this week.

Overall, the currencies with higher speculator bets this week were the US Dollar Index (1,437 contracts), Japanese yen (8,145 contracts), Euro (3,810 contracts), British pound sterling (357 contracts), Bitcoin (103 contracts) and the Mexican peso (11,490 contracts).

The currencies with declining bets were the New Zealand dollar (-4,771 contracts), Canadian dollar (-9,089 contracts), Australian dollar (-2,928 contracts), Brazil real (-2,683 contracts) and the Swiss franc (-829 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 Forex Market Traders | Columns Legend

May-17-2022	OI	OI-Index	Spec-Net	Spec-Index	Com-Net	COM-Index	Smalls-Net	Smalls-Index
USD Index	61,899	93	36,213	88	-39,506	9	3,293	53
EUR	706,712	85	20,339	41	-51,517	61	31,178	26
GBP	253,811	73	-79,241	17	94,344	85	-15,103	24
JPY	241,308	83	-102,309	6	115,062	92	-12,753	28
CHF	53,291	42	-16,592	37	31,181	72	-14,589	14
CAD	151,585	31	-14,496	28	12,591	75	1,905	34
AUD	163,809	55	-44,642	43	54,437	59	-9,795	29
NZD	60,804	64	-17,767	41	21,390	63	-3,623	10
MXN	170,924	36	28,215	39	-32,249	59	4,034	60
RUB	20,930	4	7,543	31	-7,150	69	-393	24
BRL	55,990	48	38,095	88	-39,436	13	1,341	80
Bitcoin	11,644	63	806	100	-875	0	69	15

US Dollar Index Futures:

The US Dollar Index large speculator standing this week resulted in a net position of 36,213 contracts in the data reported through Tuesday. This was a weekly rise of 1,437 contracts from the previous week which had a total of 34,776 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 88.2 percent. The commercials are Bearish-Extreme with a score of 9.0 percent and the small traders (not shown in chart) are Bullish with a score of 52.5 percent.

US DOLLAR INDEX Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	86.5	3.4	8.8
– Percent of Open Interest Shorts:	28.0	67.2	3.5
– Net Position:	36,213	-39,506	3,293
– Gross Longs:	53,519	2,105	5,449
– Gross Shorts:	17,306	41,611	2,156
– Long to Short Ratio:	3.1 to 1	0.1 to 1	2.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	88.2	9.0	52.5
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	7.5	-7.2	-0.5

Euro Currency Futures:

The Euro Currency large speculator standing this week resulted in a net position of 20,339 contracts in the data reported through Tuesday. This was a weekly boost of 3,810 contracts from the previous week which had a total of 16,529 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 41.2 percent. The commercials are Bullish with a score of 61.4 percent and the small traders (not shown in chart) are Bearish with a score of 26.0 percent.

EURO Currency Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	32.7	52.7	12.1
– Percent of Open Interest Shorts:	29.8	59.9	7.7
– Net Position:	20,339	-51,517	31,178
– Gross Longs:	230,770	372,113	85,455
– Gross Shorts:	210,431	423,630	54,277
– Long to Short Ratio:	1.1 to 1	0.9 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	41.2	61.4	26.0
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-2.2	-0.5	14.8

British Pound Sterling Futures:

The British Pound Sterling large speculator standing this week resulted in a net position of -79,241 contracts in the data reported through Tuesday. This was a weekly advance of 357 contracts from the previous week which had a total of -79,598 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 16.9 percent. The commercials are Bullish-Extreme with a score of 85.5 percent and the small traders (not shown in chart) are Bearish with a score of 24.3 percent.

BRITISH POUND Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	10.5	79.4	8.2
– Percent of Open Interest Shorts:	41.7	42.3	14.1
– Net Position:	-79,241	94,344	-15,103
– Gross Longs:	26,613	201,647	20,811
– Gross Shorts:	105,854	107,303	35,914
– Long to Short Ratio:	0.3 to 1	1.9 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	16.9	85.5	24.3
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-27.0	21.6	1.9

Japanese Yen Futures:

The Japanese Yen large speculator standing this week resulted in a net position of -102,309 contracts in the data reported through Tuesday. This was a weekly advance of 8,145 contracts from the previous week which had a total of -110,454 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 5.9 percent. The commercials are Bullish-Extreme with a score of 91.8 percent and the small traders (not shown in chart) are Bearish with a score of 27.5 percent.

JAPANESE YEN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	5.0	84.7	8.7
– Percent of Open Interest Shorts:	47.4	37.0	14.0
– Net Position:	-102,309	115,062	-12,753
– Gross Longs:	12,113	204,417	20,933
– Gross Shorts:	114,422	89,355	33,686
– Long to Short Ratio:	0.1 to 1	2.3 to 1	0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	5.9	91.8	27.5
– Strength Index Reading (3 Year Range):	Bearish-Extreme	Bullish-Extreme	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	0.9	-5.0	17.6

Swiss Franc Futures:

The Swiss Franc large speculator standing this week resulted in a net position of -16,592 contracts in the data reported through Tuesday. This was a weekly reduction of -829 contracts from the previous week which had a total of -15,763 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 36.6 percent. The commercials are Bullish with a score of 72.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 13.8 percent.

SWISS FRANC Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	9.8	74.5	15.2
– Percent of Open Interest Shorts:	41.0	16.0	42.6
– Net Position:	-16,592	31,181	-14,589
– Gross Longs:	5,240	39,722	8,094
– Gross Shorts:	21,832	8,541	22,683
– Long to Short Ratio:	0.2 to 1	4.7 to 1	0.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	36.6	72.3	13.8
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.9	12.9	-19.8

Canadian Dollar Futures:

The Canadian Dollar large speculator standing this week resulted in a net position of -14,496 contracts in the data reported through Tuesday. This was a weekly reduction of -9,089 contracts from the previous week which had a total of -5,407 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 28.5 percent. The commercials are Bullish with a score of 75.0 percent and the small traders (not shown in chart) are Bearish with a score of 33.6 percent.

CANADIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	23.8	52.7	20.6
– Percent of Open Interest Shorts:	33.4	44.4	19.3
– Net Position:	-14,496	12,591	1,905
– Gross Longs:	36,069	79,825	31,228
– Gross Shorts:	50,565	67,234	29,323
– Long to Short Ratio:	0.7 to 1	1.2 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	28.5	75.0	33.6
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-22.4	33.9	-43.0

Australian Dollar Futures:

The Australian Dollar large speculator standing this week resulted in a net position of -44,642 contracts in the data reported through Tuesday. This was a weekly decrease of -2,928 contracts from the previous week which had a total of -41,714 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 59.5 percent and the small traders (not shown in chart) are Bearish with a score of 28.5 percent.

AUSTRALIAN DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	25.3	60.4	11.7
– Percent of Open Interest Shorts:	52.6	27.1	17.7
– Net Position:	-44,642	54,437	-9,795
– Gross Longs:	41,473	98,903	19,187
– Gross Shorts:	86,115	44,466	28,982
– Long to Short Ratio:	0.5 to 1	2.2 to 1	0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	43.4	59.5	28.5
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-6.6	24.0	-60.9

New Zealand Dollar Futures:

The New Zealand Dollar large speculator standing this week resulted in a net position of -17,767 contracts in the data reported through Tuesday. This was a weekly decrease of -4,771 contracts from the previous week which had a total of -12,996 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 41.5 percent. The commercials are Bullish with a score of 63.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 10.4 percent.

NEW ZEALAND DOLLAR Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	24.7	71.1	3.9
– Percent of Open Interest Shorts:	53.9	35.9	9.8
– Net Position:	-17,767	21,390	-3,623
– Gross Longs:	14,998	43,219	2,358
– Gross Shorts:	32,765	21,829	5,981
– Long to Short Ratio:	0.5 to 1	2.0 to 1	0.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	41.5	63.4	10.4
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-27.2	32.7	-57.5

Mexican Peso Futures:

The Mexican Peso large speculator standing this week resulted in a net position of 28,215 contracts in the data reported through Tuesday. This was a weekly gain of 11,490 contracts from the previous week which had a total of 16,725 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 59.4 percent and the small traders (not shown in chart) are Bullish with a score of 60.1 percent.

MEXICAN PESO Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	45.5	49.1	4.1
– Percent of Open Interest Shorts:	29.0	67.9	1.7
– Net Position:	28,215	-32,249	4,034
– Gross Longs:	77,819	83,844	7,000
– Gross Shorts:	49,604	116,093	2,966
– Long to Short Ratio:	1.6 to 1	0.7 to 1	2.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	39.4	59.4	60.1
– Strength Index Reading (3 Year Range):	Bearish	Bullish	Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	11.6	-11.0	-3.5

Brazilian Real Futures:

The Brazilian Real large speculator standing this week resulted in a net position of 38,095 contracts in the data reported through Tuesday. This was a weekly decline of -2,683 contracts from the previous week which had a total of 40,778 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 87.8 percent. The commercials are Bearish-Extreme with a score of 12.8 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 80.5 percent.

BRAZIL REAL Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	76.8	16.9	6.1
– Percent of Open Interest Shorts:	8.7	87.3	3.7
– Net Position:	38,095	-39,436	1,341
– Gross Longs:	42,989	9,470	3,438
– Gross Shorts:	4,894	48,906	2,097
– Long to Short Ratio:	8.8 to 1	0.2 to 1	1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	87.8	12.8	80.5
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	-7.3	8.3	-12.8

Bitcoin Futures:

The Bitcoin large speculator standing this week resulted in a net position of 806 contracts in the data reported through Tuesday. This was a weekly gain of 103 contracts from the previous week which had a total of 703 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 0.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 14.5 percent.

BITCOIN Statistics	SPECULATORS	COMMERCIALS	SMALL TRADERS
– Percent of Open Interest Longs:	82.1	1.7	9.3
– Percent of Open Interest Shorts:	75.2	9.2	8.7
– Net Position:	806	-875	69
– Gross Longs:	9,564	194	1,081
– Gross Shorts:	8,758	1,069	1,012
– Long to Short Ratio:	1.1 to 1	0.2 to 1	1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):	100.0	0.0	14.5
– Strength Index Reading (3 Year Range):	Bullish-Extreme	Bearish-Extreme	Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:	20.1	-29.8	-13.0

Article By InvestMacro – Receive our weekly COT Reports by Email

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