Archive for Soft Commodities

COT Week 26 Charts: Soft Commodities Speculators bets drop sharply led by Corn, Soybeans & Sugar

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

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

The latest COT data is updated through Tuesday June 28th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

The soft commodities market speculator bets were sharply lower this week as just two out of the eleven soft commodities markets we cover had higher positioning this week while nine markets had lower contracts.

Leading the gains for soft commodities markets was Lean Hogs (4,228 contracts) and Cocoa (3,034 contracts) as the only markets showing positive weeks. Meanwhile, leading the declines in speculator bets this week were Corn (-52,067 contracts), Soybeans (-41,186 contracts) and Sugar (-40,402 contracts) with Soybean Oil (-22,612 contracts), Live Cattle (-12,287 contracts), Wheat (-11,388 contracts), Cotton (-9,655 contracts), Coffee (-4,171 contracts) and Soybean Meal (-1,446 contracts) also registering lower bets on the week.


Strength scores (measuring the 3-Year range of Speculator positions, from 0 to 100 where above 80 percent is extreme bullish and below 20 percent is extreme bearish) show that Soybean Meal (80 percent) is leading the speculator strength positions at an extreme bullish score. Coffee (78 percent) and Corn (72 percent) are the next highest in strength scores. Live Cattle (14 percent) is the lone extreme bearish market with Cocoa (24 percent) coming in as the next lowest.

Strength score trends (or move index, that calculate 6-week changes in strength scores) shows the trends for soft commodities are on the downside with eight out of the eleven markets showing negative trends. Soybean Oil (-34 percent) and Wheat (-28 percent) are leading the negative scores currently. The only markets with positive scores this week are Coffee (6 percent), Lean Hogs (9 percent) and Soybean Meal (12 percent).


Data Snapshot of Commodity Market Traders | Columns Legend
Jun-28-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 1,651,566 0 299,692 3 -327,938 99 28,246 55
Gold 497,005 13 157,693 2 -182,007 98 24,314 16
Silver 135,775 3 10,891 0 -18,485 100 7,594 0
Copper 182,352 14 -30,696 20 31,197 81 -501 22
Palladium 7,765 6 -3,825 1 4,441 100 -616 8
Platinum 68,232 36 -1,306 2 -3,381 100 4,687 27
Natural Gas 987,740 0 -129,419 40 90,840 60 38,579 71
Brent 173,920 19 -42,677 40 41,434 62 1,243 26
Heating Oil 269,168 23 7,508 53 -25,743 44 18,235 62
Soybeans 653,337 11 137,193 56 -106,705 52 -30,488 20
Corn 1,338,054 0 328,102 72 -274,110 33 -53,992 12
Coffee 194,896 2 45,200 78 -47,147 26 1,947 9
Sugar 734,324 0 122,709 62 -132,877 43 10,168 20
Wheat 291,041 0 7,679 29 -1,871 57 -5,808 80

 


CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week came in at a net position of 328,102 contracts in the data reported through Tuesday. This was a weekly reduction of -52,067 contracts from the previous week which had a total of 380,169 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 71.9 percent. The commercials are Bearish with a score of 32.9 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 12.0 percent.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.4 44.6 9.4
– Percent of Open Interest Shorts: 7.9 65.1 13.4
– Net Position: 328,102 -274,110 -53,992
– Gross Longs: 433,710 597,265 125,886
– Gross Shorts: 105,608 871,375 179,878
– Long to Short Ratio: 4.1 to 1 0.7 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 71.9 32.9 12.0
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -18.6 21.4 -2.9

 


SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week came in at a net position of 122,709 contracts in the data reported through Tuesday. This was a weekly lowering of -40,402 contracts from the previous week which had a total of 163,111 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 61.8 percent. The commercials are Bearish with a score of 43.0 percent and the small traders (not shown in chart) are Bearish with a score of 20.4 percent.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.7 49.2 9.1
– Percent of Open Interest Shorts: 12.0 67.3 7.7
– Net Position: 122,709 -132,877 10,168
– Gross Longs: 210,575 361,005 66,813
– Gross Shorts: 87,866 493,882 56,645
– Long to Short Ratio: 2.4 to 1 0.7 to 1 1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 61.8 43.0 20.4
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -15.2 21.3 -47.7

 


COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week came in at a net position of 45,200 contracts in the data reported through Tuesday. This was a weekly decrease of -4,171 contracts from the previous week which had a total of 49,371 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 77.9 percent. The commercials are Bearish with a score of 26.5 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 9.5 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.5 49.4 4.1
– Percent of Open Interest Shorts: 5.3 73.6 3.1
– Net Position: 45,200 -47,147 1,947
– Gross Longs: 55,545 96,232 8,006
– Gross Shorts: 10,345 143,379 6,059
– Long to Short Ratio: 5.4 to 1 0.7 to 1 1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 77.9 26.5 9.5
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 5.8 -5.6 -5.2

 


SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week came in at a net position of 137,193 contracts in the data reported through Tuesday. This was a weekly lowering of -41,186 contracts from the previous week which had a total of 178,379 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 55.9 percent. The commercials are Bullish with a score of 51.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 19.5 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.3 52.5 5.9
– Percent of Open Interest Shorts: 8.3 68.9 10.5
– Net Position: 137,193 -106,705 -30,488
– Gross Longs: 191,380 343,227 38,323
– Gross Shorts: 54,187 449,932 68,811
– Long to Short Ratio: 3.5 to 1 0.8 to 1 0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 55.9 51.7 19.5
– Strength Index Reading (3 Year Range): Bullish Bullish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -14.1 15.0 -6.4

 


SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week came in at a net position of 44,918 contracts in the data reported through Tuesday. This was a weekly reduction of -22,612 contracts from the previous week which had a total of 67,530 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 35.9 percent. The commercials are Bullish with a score of 63.7 percent and the small traders (not shown in chart) are Bearish with a score of 44.4 percent.

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 22.7 55.7 8.4
– Percent of Open Interest Shorts: 10.3 70.4 6.1
– Net Position: 44,918 -53,225 8,307
– Gross Longs: 82,491 202,343 30,416
– Gross Shorts: 37,573 255,568 22,109
– Long to Short Ratio: 2.2 to 1 0.8 to 1 1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 35.9 63.7 44.4
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -34.2 38.6 -48.9

 


SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week came in at a net position of 93,925 contracts in the data reported through Tuesday. This was a weekly lowering of -1,446 contracts from the previous week which had a total of 95,371 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 79.8 percent. The commercials are Bearish with a score of 23.2 percent and the small traders (not shown in chart) are Bearish with a score of 42.3 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.3 43.5 11.4
– Percent of Open Interest Shorts: 3.3 72.8 6.0
– Net Position: 93,925 -114,869 20,944
– Gross Longs: 106,995 170,250 44,567
– Gross Shorts: 13,070 285,119 23,623
– Long to Short Ratio: 8.2 to 1 0.6 to 1 1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 79.8 23.2 42.3
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 11.5 -7.4 -33.0

 


LIVE CATTLE Futures:

LIVE CATTLE Futures COT ChartThe LIVE CATTLE large speculator standing this week came in at a net position of 27,835 contracts in the data reported through Tuesday. This was a weekly fall of -12,287 contracts from the previous week which had a total of 40,122 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 14.3 percent. The commercials are Bullish with a score of 76.2 percent and the small traders (not shown in chart) are Bullish with a score of 79.2 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 35.0 39.4 11.2
– Percent of Open Interest Shorts: 25.1 49.1 11.5
– Net Position: 27,835 -27,080 -755
– Gross Longs: 98,030 110,513 31,369
– Gross Shorts: 70,195 137,593 32,124
– Long to Short Ratio: 1.4 to 1 0.8 to 1 1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 14.3 76.2 79.2
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -9.0 5.9 9.9

 


LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week came in at a net position of 16,287 contracts in the data reported through Tuesday. This was a weekly gain of 4,228 contracts from the previous week which had a total of 12,059 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 24.5 percent. The commercials are Bullish-Extreme with a score of 84.8 percent and the small traders (not shown in chart) are Bullish with a score of 50.1 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.9 41.6 9.7
– Percent of Open Interest Shorts: 24.2 45.5 14.5
– Net Position: 16,287 -7,339 -8,948
– Gross Longs: 61,378 77,472 18,100
– Gross Shorts: 45,091 84,811 27,048
– Long to Short Ratio: 1.4 to 1 0.9 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 24.5 84.8 50.1
– Strength Index Reading (3 Year Range): Bearish Bullish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 9.3 -5.5 -19.9

 


COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week came in at a net position of 56,390 contracts in the data reported through Tuesday. This was a weekly reduction of -9,655 contracts from the previous week which had a total of 66,045 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 58.6 percent. The commercials are Bearish with a score of 41.9 percent and the small traders (not shown in chart) are Bearish with a score of 46.8 percent.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 41.4 40.3 7.6
– Percent of Open Interest Shorts: 9.3 75.6 4.5
– Net Position: 56,390 -61,856 5,466
– Gross Longs: 72,622 70,585 13,385
– Gross Shorts: 16,232 132,441 7,919
– Long to Short Ratio: 4.5 to 1 0.5 to 1 1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 58.6 41.9 46.8
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -14.6 17.0 -38.7

 


COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week came in at a net position of 6,339 contracts in the data reported through Tuesday. This was a weekly lift of 3,034 contracts from the previous week which had a total of 3,305 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 23.8 percent. The commercials are Bullish with a score of 77.4 percent and the small traders (not shown in chart) are Bearish with a score of 20.2 percent.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.2 44.3 4.5
– Percent of Open Interest Shorts: 28.1 47.1 3.7
– Net Position: 6,339 -8,708 2,369
– Gross Longs: 91,654 134,441 13,610
– Gross Shorts: 85,315 143,149 11,241
– Long to Short Ratio: 1.1 to 1 0.9 to 1 1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 23.8 77.4 20.2
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -12.0 14.6 -27.2

 


WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week came in at a net position of 7,679 contracts in the data reported through Tuesday. This was a weekly decrease of -11,388 contracts from the previous week which had a total of 19,067 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 29.0 percent. The commercials are Bullish with a score of 57.0 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 80.3 percent.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.9 40.8 10.1
– Percent of Open Interest Shorts: 28.3 41.5 12.1
– Net Position: 7,679 -1,871 -5,808
– Gross Longs: 89,989 118,839 29,465
– Gross Shorts: 82,310 120,710 35,273
– Long to Short Ratio: 1.1 to 1 1.0 to 1 0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 29.0 57.0 80.3
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -27.5 34.3 -15.7

 


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*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.

COT Week 25 Charts: Soft Commodity Speculator bets slightly lower led by Corn & Sugar

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

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

The latest COT data is updated through Tuesday June 21st and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

The soft commodities market speculator bets were mostly lower this week as six out of the eleven soft commodities markets we cover had higher positioning this week while five markets had lower contracts.

Leading the gains for soft commodities markets was Live Cattle (7,378 contracts) and Cocoa (6,674 contracts) with Soybean Meal (6,540 contracts), Lean Hogs (4,673 contracts) and Coffee (2,486 contracts) also showing positive speculator contract changes for the week. Meanwhile, leading the declines in speculator bets this week were Corn (-19,606 contracts) and Sugar (-7,372 contracts) with Soybean Oil (-5,868 contracts), Soybeans (-4,288 contracts), Wheat (-1,368 contracts) and Cotton (-210 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 Coffee (81 percent) and Soybean Meal (80.6 percent) are in extreme bullish positions as of the latest data release. On the downside for strength scores is Lean Hogs (19.9 percent) which is just on the edge of being in a bearish extreme position and then Cocoa (20.9 percent) which is the next lowest.

Strength score trends (or move index, that calculate 6-week changes in strength scores) shows that Coffee (14.5 percent) and Soybean Meal (6.3 percent) have the highest trends as of the latest data. The overall effect of this chart shows how most of the soft commodities markets have really cooled off after really strong speculator sentiment since the start of the year.


Data Snapshot of Commodity Market Traders | Columns Legend
Jun-21-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 1,658,636 0 289,502 0 -323,915 100 34,413 64
Gold 500,276 14 163,287 4 -186,929 96 23,642 14
Silver 145,356 12 18,419 7 -27,250 93 8,831 4
Copper 187,170 17 -20,938 27 18,928 72 2,010 37
Palladium 7,641 6 -4,046 0 4,511 100 -465 17
Platinum 64,946 30 1,491 6 -6,397 96 4,906 30
Natural Gas 1,030,971 0 -130,869 39 85,977 58 44,892 86
Brent 173,098 18 -38,010 47 36,052 53 1,958 36
Heating Oil 268,818 23 9,564 56 -28,204 41 18,640 63
Soybeans 745,494 32 178,379 68 -152,968 38 -25,411 28
Corn 1,512,152 23 380,169 79 -326,474 25 -53,695 12
Coffee 192,832 0 49,371 81 -52,348 22 2,977 20
Sugar 779,773 0 163,111 70 -181,280 34 18,169 30
Wheat 320,326 6 19,067 44 -15,407 38 -3,660 91

 


CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week reached a net position of 380,169 contracts in the data reported through Tuesday. This was a weekly fall of -19,606 contracts from the previous week which had a total of 399,775 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 78.6 percent. The commercials are Bearish with a score of 25.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 12.1 percent.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 33.3 44.7 9.3
– Percent of Open Interest Shorts: 8.2 66.3 12.9
– Net Position: 380,169 -326,474 -53,695
– Gross Longs: 504,174 675,580 140,912
– Gross Shorts: 124,005 1,002,054 194,607
– Long to Short Ratio: 4.1 to 1 0.7 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 78.6 25.4 12.1
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -11.6 12.6 1.1

 


SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week reached a net position of 163,111 contracts in the data reported through Tuesday. This was a weekly fall of -7,372 contracts from the previous week which had a total of 170,483 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 70.1 percent. The commercials are Bearish with a score of 33.8 percent and the small traders (not shown in chart) are Bearish with a score of 30.3 percent.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.1 49.2 9.0
– Percent of Open Interest Shorts: 8.2 72.4 6.7
– Net Position: 163,111 -181,280 18,169
– Gross Longs: 227,142 383,646 70,240
– Gross Shorts: 64,031 564,926 52,071
– Long to Short Ratio: 3.5 to 1 0.7 to 1 1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 70.1 33.8 30.3
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -4.9 7.5 -18.9

 


COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week reached a net position of 49,371 contracts in the data reported through Tuesday. This was a weekly gain of 2,486 contracts from the previous week which had a total of 46,885 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 81.5 percent. The commercials are Bearish with a score of 21.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 19.8 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.3 47.6 4.4
– Percent of Open Interest Shorts: 4.7 74.7 2.8
– Net Position: 49,371 -52,348 2,977
– Gross Longs: 58,442 91,789 8,425
– Gross Shorts: 9,071 144,137 5,448
– Long to Short Ratio: 6.4 to 1 0.6 to 1 1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 81.5 21.7 19.8
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 14.5 -17.0 19.8

 


SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week reached a net position of 178,379 contracts in the data reported through Tuesday. This was a weekly decrease of -4,288 contracts from the previous week which had a total of 182,667 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 68.5 percent. The commercials are Bearish with a score of 37.9 percent and the small traders (not shown in chart) are Bearish with a score of 28.1 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.3 50.5 6.6
– Percent of Open Interest Shorts: 6.4 71.0 10.0
– Net Position: 178,379 -152,968 -25,411
– Gross Longs: 226,191 376,155 49,215
– Gross Shorts: 47,812 529,123 74,626
– Long to Short Ratio: 4.7 to 1 0.7 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 68.5 37.9 28.1
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 1.1 -1.6 2.5

 


SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week reached a net position of 67,530 contracts in the data reported through Tuesday. This was a weekly reduction of -5,868 contracts from the previous week which had a total of 73,398 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 50.9 percent. The commercials are Bearish with a score of 48.9 percent and the small traders (not shown in chart) are Bullish with a score of 52.0 percent.

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.0 52.9 8.4
– Percent of Open Interest Shorts: 7.6 73.0 5.7
– Net Position: 67,530 -77,869 10,339
– Gross Longs: 96,861 205,007 32,564
– Gross Shorts: 29,331 282,876 22,225
– Long to Short Ratio: 3.3 to 1 0.7 to 1 1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 50.9 48.9 52.0
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -22.0 24.5 -29.5

 


SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week reached a net position of 95,371 contracts in the data reported through Tuesday. This was a weekly advance of 6,540 contracts from the previous week which had a total of 88,831 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 80.6 percent. The commercials are Bearish with a score of 20.7 percent and the small traders (not shown in chart) are Bullish with a score of 60.0 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.5 42.8 11.8
– Percent of Open Interest Shorts: 3.9 72.6 5.7
– Net Position: 95,371 -119,799 24,428
– Gross Longs: 110,934 172,823 47,533
– Gross Shorts: 15,563 292,622 23,105
– Long to Short Ratio: 7.1 to 1 0.6 to 1 2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 80.6 20.7 60.0
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 6.3 -6.1 2.6

 


LIVE CATTLE Futures:

LIVE CATTLE Futures COT ChartThe LIVE CATTLE large speculator standing this week reached a net position of 40,122 contracts in the data reported through Tuesday. This was a weekly advance of 7,378 contracts from the previous week which had a total of 32,744 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 29.7 percent. The commercials are Bullish with a score of 60.4 percent and the small traders (not shown in chart) are Bullish with a score of 76.7 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 37.1 39.7 11.4
– Percent of Open Interest Shorts: 22.6 53.6 12.0
– Net Position: 40,122 -38,641 -1,481
– Gross Longs: 102,557 109,561 31,589
– Gross Shorts: 62,435 148,202 33,070
– Long to Short Ratio: 1.6 to 1 0.7 to 1 1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 29.7 60.4 76.7
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 0.4 -3.9 8.8

 


LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week reached a net position of 12,059 contracts in the data reported through Tuesday. This was a weekly lift of 4,673 contracts from the previous week which had a total of 7,386 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 19.9 percent. The commercials are Bullish-Extreme with a score of 89.9 percent and the small traders (not shown in chart) are Bearish with a score of 49.7 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.6 43.4 10.2
– Percent of Open Interest Shorts: 25.2 45.0 15.0
– Net Position: 12,059 -3,041 -9,018
– Gross Longs: 59,031 80,955 18,981
– Gross Shorts: 46,972 83,996 27,999
– Long to Short Ratio: 1.3 to 1 1.0 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 19.9 89.9 49.7
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -4.7 9.2 -18.1

 


COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week reached a net position of 66,045 contracts in the data reported through Tuesday. This was a weekly decrease of -210 contracts from the previous week which had a total of 66,255 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 64.7 percent. The commercials are Bearish with a score of 35.5 percent and the small traders (not shown in chart) are Bullish with a score of 54.2 percent.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 42.4 39.7 8.3
– Percent of Open Interest Shorts: 8.0 77.6 4.8
– Net Position: 66,045 -72,681 6,636
– Gross Longs: 81,410 76,251 15,830
– Gross Shorts: 15,365 148,932 9,194
– Long to Short Ratio: 5.3 to 1 0.5 to 1 1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 64.7 35.5 54.2
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -10.0 11.7 -26.7

 


COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week reached a net position of 3,305 contracts in the data reported through Tuesday. This was a weekly boost of 6,674 contracts from the previous week which had a total of -3,369 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 20.9 percent. The commercials are Bullish-Extreme with a score of 81.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 12.0 percent.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.3 43.9 4.2
– Percent of Open Interest Shorts: 29.2 45.5 3.7
– Net Position: 3,305 -4,856 1,551
– Gross Longs: 93,606 135,958 12,977
– Gross Shorts: 90,301 140,814 11,426
– Long to Short Ratio: 1.0 to 1 1.0 to 1 1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 20.9 81.2 12.0
– Strength Index Reading (3 Year Range): Bearish Bullish-Extreme Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -17.4 21.3 -41.9

 


WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week reached a net position of 19,067 contracts in the data reported through Tuesday. This was a weekly reduction of -1,368 contracts from the previous week which had a total of 20,435 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 43.9 percent. The commercials are Bearish with a score of 37.8 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: 32.1 39.1 10.4
– Percent of Open Interest Shorts: 26.2 44.0 11.5
– Net Position: 19,067 -15,407 -3,660
– Gross Longs: 102,924 125,399 33,167
– Gross Shorts: 83,857 140,806 36,827
– 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): 43.9 37.8 91.4
– Strength Index Reading (3 Year Range): Bearish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -3.4 3.4 1.3

 


Article By InvestMacroReceive 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.

COT Week 24 Charts: Soft Commodities Speculators Positions mostly lower led by Sugar & Cocoa

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

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

The latest COT data is updated through Tuesday June 14th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

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

Leading the gains for soft commodities markets was Corn (8,511 contracts) and Live Cattle (7,316 contracts) with Soybeans (6,023 contracts) also showing a positive week.

Meanwhile, leading the declines in speculator bets this week were Sugar (-24,920 contracts) and Cocoa (-17,863 contracts) with Soybean Oil (-5,247 contracts), Cotton (-4,427 contracts), Wheat (-3,446 contracts), Lean Hogs (-3,105 contracts), Coffee (-1,882 contracts) and Soybean Meal (-845 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 Corn (81.1 percent and bullish-extreme) is at the highest level of the softs currently followed by Coffee and Soybean Meal. On the downside, Lean Hogs (14.8 percent) and Cocoa (14.3 percent) are in bearish-extreme levels and have the weakest speculator strength scores at the moment.

Strength score trends (or move index, that calculate 6-week changes in strength scores) shows that Coffee and Wheat have the only rising scores over the past six weeks. Cocoa leads the trends on the downside with a -39.1 percent trend change followed by Live Cattle (-17.9 percent) and Lean Hogs (-16 percent).


Data Snapshot of Commodity Market Traders | Columns Legend
Jun-14-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 1,715,674 0 302,946 0 -341,654 100 38,708 70
Gold 497,456 13 154,598 0 -178,569 100 23,971 15
Silver 151,978 18 14,005 0 -22,047 100 8,042 0
Copper 187,247 17 -13,797 32 10,287 67 3,510 46
Palladium 7,740 6 -4,057 0 4,354 100 -297 27
Platinum 66,613 33 2,214 7 -6,793 96 4,579 26
Natural Gas 1,053,265 0 -123,485 42 74,310 54 49,175 96
Brent 171,026 17 -36,389 50 34,601 51 1,788 33
Heating Oil 268,199 23 8,475 55 -28,686 41 20,211 68
Soybeans 754,428 34 182,667 70 -155,663 37 -27,004 25
Corn 1,521,565 25 399,775 81 -344,196 23 -55,579 11
Coffee 202,656 0 46,885 79 -48,399 25 1,514 5
Sugar 800,806 1 170,483 72 -198,006 31 27,523 42
Wheat 336,890 13 20,435 46 -18,089 34 -2,346 98

 


CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week was a net position of 399,775 contracts in the data reported through Tuesday. This was a weekly increase of 8,511 contracts from the previous week which had a total of 391,264 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 81.1 percent. The commercials are Bearish with a score of 22.9 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.1 percent.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 34.2 44.6 9.2
– Percent of Open Interest Shorts: 7.9 67.2 12.8
– Net Position: 399,775 -344,196 -55,579
– Gross Longs: 519,685 678,186 139,407
– Gross Shorts: 119,910 1,022,382 194,986
– Long to Short Ratio: 4.3 to 1 0.7 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 81.1 22.9 11.1
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -13.0 15.2 -2.8

 


SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week was a net position of 170,483 contracts in the data reported through Tuesday. This was a weekly decrease of -24,920 contracts from the previous week which had a total of 195,403 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 71.7 percent. The commercials are Bearish with a score of 30.6 percent and the small traders (not shown in chart) are Bearish with a score of 41.9 percent.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.1 47.6 10.1
– Percent of Open Interest Shorts: 7.8 72.3 6.7
– Net Position: 170,483 -198,006 27,523
– Gross Longs: 233,102 380,876 80,955
– Gross Shorts: 62,619 578,882 53,432
– Long to Short Ratio: 3.7 to 1 0.7 to 1 1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 71.7 30.6 41.9
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -6.4 7.3 -9.0

 


COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week was a net position of 46,885 contracts in the data reported through Tuesday. This was a weekly decline of -1,882 contracts from the previous week which had a total of 48,767 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 79.3 percent. The commercials are Bearish with a score of 25.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 5.1 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.3 49.4 4.4
– Percent of Open Interest Shorts: 4.2 73.3 3.6
– Net Position: 46,885 -48,399 1,514
– Gross Longs: 55,397 100,060 8,883
– Gross Shorts: 8,512 148,459 7,369
– Long to Short Ratio: 6.5 to 1 0.7 to 1 1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 79.3 25.3 5.1
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 5.3 -4.9 -8.0

 


SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week was a net position of 182,667 contracts in the data reported through Tuesday. This was a weekly boost of 6,023 contracts from the previous week which had a total of 176,644 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 69.8 percent. The commercials are Bearish with a score of 37.1 percent and the small traders (not shown in chart) are Bearish with a score of 25.4 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.5 49.3 6.6
– Percent of Open Interest Shorts: 6.3 69.9 10.2
– Net Position: 182,667 -155,663 -27,004
– Gross Longs: 229,930 371,675 50,027
– Gross Shorts: 47,263 527,338 77,031
– 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): 69.8 37.1 25.4
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -2.4 2.9 -3.3

 


SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week was a net position of 73,398 contracts in the data reported through Tuesday. This was a weekly fall of -5,247 contracts from the previous week which had a total of 78,645 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 54.8 percent. The commercials are Bearish with a score of 43.4 percent and the small traders (not shown in chart) are Bullish with a score of 64.6 percent.

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.3 50.9 9.1
– Percent of Open Interest Shorts: 7.4 73.4 5.5
– Net Position: 73,398 -87,101 13,703
– Gross Longs: 102,073 198,015 35,202
– Gross Shorts: 28,675 285,116 21,499
– Long to Short Ratio: 3.6 to 1 0.7 to 1 1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 54.8 43.4 64.6
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -15.9 14.5 -1.0

 


SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week was a net position of 88,831 contracts in the data reported through Tuesday. This was a weekly fall of -845 contracts from the previous week which had a total of 89,676 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 76.9 percent. The commercials are Bearish with a score of 23.3 percent and the small traders (not shown in chart) are Bullish with a score of 67.5 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.6 43.8 12.7
– Percent of Open Interest Shorts: 4.5 73.6 5.9
– Net Position: 88,831 -114,735 25,904
– Gross Longs: 106,273 168,517 48,694
– Gross Shorts: 17,442 283,252 22,790
– Long to Short Ratio: 6.1 to 1 0.6 to 1 2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 76.9 23.3 67.5
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -6.0 2.6 29.3

 


LIVE CATTLE Futures:

LIVE CATTLE Futures COT ChartThe LIVE CATTLE large speculator standing this week was a net position of 32,744 contracts in the data reported through Tuesday. This was a weekly gain of 7,316 contracts from the previous week which had a total of 25,428 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 20.4 percent. The commercials are Bullish with a score of 72.1 percent and the small traders (not shown in chart) are Bullish with a score of 72.7 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 36.9 40.6 11.3
– Percent of Open Interest Shorts: 24.9 51.6 12.3
– Net Position: 32,744 -30,120 -2,624
– Gross Longs: 100,918 110,947 30,976
– Gross Shorts: 68,174 141,067 33,600
– Long to Short Ratio: 1.5 to 1 0.8 to 1 0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 20.4 72.1 72.7
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -17.9 15.4 10.5

 


LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week was a net position of 7,386 contracts in the data reported through Tuesday. This was a weekly lowering of -3,105 contracts from the previous week which had a total of 10,491 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-Extreme with a score of 14.8 percent. The commercials are Bullish-Extreme with a score of 93.7 percent and the small traders (not shown in chart) are Bullish with a score of 57.2 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.7 43.9 9.9
– Percent of Open Interest Shorts: 25.8 43.8 13.8
– Net Position: 7,386 202 -7,588
– Gross Longs: 57,305 84,837 19,098
– Gross Shorts: 49,919 84,635 26,686
– Long to Short Ratio: 1.1 to 1 1.0 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 14.8 93.7 57.2
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -16.0 20.7 -15.1

 


COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week was a net position of 66,255 contracts in the data reported through Tuesday. This was a weekly lowering of -4,427 contracts from the previous week which had a total of 70,682 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 64.9 percent. The commercials are Bearish with a score of 33.8 percent and the small traders (not shown in chart) are Bullish with a score of 71.8 percent.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 41.1 41.6 9.2
– Percent of Open Interest Shorts: 7.9 79.5 4.5
– Net Position: 66,255 -75,657 9,402
– Gross Longs: 81,941 82,992 18,322
– Gross Shorts: 15,686 158,649 8,920
– Long to Short Ratio: 5.2 to 1 0.5 to 1 2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 64.9 33.8 71.8
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -11.0 11.9 -19.5

 


COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week was a net position of -3,369 contracts in the data reported through Tuesday. This was a weekly fall of -17,863 contracts from the previous week which had a total of 14,494 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 14.3 percent. The commercials are Bullish-Extreme with a score of 85.8 percent and the small traders (not shown in chart) are Bearish with a score of 31.5 percent.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.0 45.5 5.9
– Percent of Open Interest Shorts: 30.1 45.5 4.8
– Net Position: -3,369 -126 3,495
– Gross Longs: 90,712 142,236 18,389
– Gross Shorts: 94,081 142,362 14,894
– Long to Short Ratio: 1.0 to 1 1.0 to 1 1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 14.3 85.8 31.5
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -39.1 42.0 -32.3

 


WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week was a net position of 20,435 contracts in the data reported through Tuesday. This was a weekly reduction of -3,446 contracts from the previous week which had a total of 23,881 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 45.6 percent. The commercials are Bearish with a score of 33.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 98.2 percent.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.3 38.0 10.7
– Percent of Open Interest Shorts: 25.3 43.4 11.4
– Net Position: 20,435 -18,089 -2,346
– Gross Longs: 105,566 128,087 36,114
– Gross Shorts: 85,131 146,176 38,460
– 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): 45.6 33.9 98.2
– Strength Index Reading (3 Year Range): Bearish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 0.6 -5.5 17.9

 


Article By InvestMacroReceive 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.

Bullish Pattern Spotted for Two Agricultural Futures

By Ino.com

– There is an interesting bullish pattern popping up in the agricultural markets. It’s a pattern I spotted in gold in February, but now I’ve found it in at least two agricultural markets.

Soybean Futures – Cup & Handle

Let’s start with a soybean futures chart.

The soybean futures price hit an all-time high of $17.89/bushel in September 2012. After that, it started to collapse in several legs to the downside, losing half of its price by September 2015.

Chart of Soybeans
The spike in 2016 was short-lived, as the soybean futures had dropped again to establish the valley in 2019 at $7.91/bushel. Shortly after, the price had reversed to the upside and rallied to a peek last year at $16.675/bushel.

The recent price movement established the substantial “cup” of the pattern (blue). The following correction (orange) of the price has been relatively small compared to the cup. This correct creates the “Handle” part of the chart pattern. The handle bottomed just below the 50% Fibonacci retracement level at $11.845/bushel, and the price has spent the most of last year in the handle.

This year, the soybean futures price pushed over the handle in to break above the main trigger located at the right top of the cup at $16.675/bushel. The rapidly growing volume has supported that breakout. It is an excellent bullish sign.

The target for this pattern is computed by adding the height of the cup to the trigger point. This target is located at $25.44/bushel, a +46% gain from the last Friday’s close.

The invalidation trigger is located in the valley of the handle, below $11.845/bushel.

Corn Futures – Cup & Handle

The same Cup & Handle pattern shows up for corn futures. This time, the model looks smoother as the rounding bottom of the cup (blue) has no such sharp bounces as we saw in the soybean futures.

Chart of Corn Futures

The cup established the valley later than the soybean price movement. The price reached the minimum at $3.03/bushel in April 2020. The right top of the cup at $7.353/bushel is lower than the left side ($8.438/bushel).

The correction stage within the handle (orange) also bottomed below the 50% Fibonacci retracement level at $4.975/bushel. Although, it looks not as sharp as we saw it in soybean futures as the orange trendlines diverge did not converge.

The bullish move in corn futures at the start of this year has been even stronger as the price rallied both over the handle and over the trigger of $7.353/bushel. This huge move almost hit the all-time high of the left peak of the cup. The rising volume has confirmed the actual demand in the market.

The profit target for the pattern is at the height of the cup in addition to the trigger point. This mark is at the $11.703/bushel mark, which means +51% gain from the last Friday’s close.

The invalidation trigger is in the valley of the handle, below $4.975/bushel.

The projected rise of these agricultural futures means food inflation would persist for longer. The global inflation signal also comes from the bullish oil chart (main driver of inflation) and the bullish gold chart (a hedge against inflation).

I’ll keep looking for these technical patterns, so please visit back for my next analysis!

Aibek Burabayev
INO.com Contributor, Metals

Disclosure: This contributor has no positions in any stocks mentioned in this article. This article is the opinion of the contributor themselves. The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. This contributor is not receiving compensation (other than from INO.com) for their opinion.

By Ino.com – See our Trader Blog, INO TV Free & Market Analysis Alerts

Source: Bullish Pattern Spotted for Two Agricultural Futures

 

COT Week 23 Charts: Soft Commodities Speculators Positions mostly higher led by Soybean Meal & Live Cattle

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

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

The latest COT data is updated through Tuesday June 7th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

The soft commodities market speculator bets were mostly higher this week as seven out of the eleven soft commodities markets we cover had higher positioning this week while four markets had lower contracts.

Leading the gains for soft commodities markets was Soybean Meal (8,922 contracts) and Live Cattle (5,888 contracts) with Coffee (5,752 contracts), Cocoa (4,341 contracts), Soybean Oil (3,604 contracts), Wheat (1,572 contracts) and Lean Hogs (1,274 contracts) also showing a positive weeks.

Meanwhile, leading the declines in speculator bets this week were Corn (-12,936 contracts) and Soybeans (-9,434 contracts) with Sugar (-6,277 contracts) and Cotton (-2 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 Corn and Coffee are in extreme-bullish levels currently. On the opposite position, Live Cattle and Lean Hogs hold extreme-bearish levels while most of the other markets are in strong bullish positions between 50 percent and 80 percent.

Strength score trends (or move index, that show 6-week changes in strength scores) shows that despite the strong strength scores in the blue chart previously, the trends have been cooling off mightily. This chart shows that only Coffee and Wheat have had rising scores over the past six weeks. Live Cattle and Lean Hogs have had strong declines in the trends over the past six weeks followed by Soybean Meal, Soybean Oil and Corn.


Data Snapshot of Commodity Market Traders | Columns Legend
Jun-07-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 1,790,618 10 328,256 8 -369,033 93 40,777 72
Gold 494,130 12 175,268 7 -199,886 95 24,618 18
Silver 148,294 15 17,404 5 -27,990 94 10,586 10
Copper 194,187 22 -3,714 40 879 60 2,835 42
Palladium 7,035 3 -3,461 2 3,581 97 -120 37
Platinum 65,295 31 5,933 12 -9,742 92 3,809 15
Natural Gas 1,127,731 10 -114,342 44 66,419 52 47,923 93
Brent 169,802 16 -36,098 51 34,208 50 1,890 35
Heating Oil 261,651 20 4,886 50 -24,428 45 19,542 66
Soybeans 760,444 35 176,644 68 -148,390 39 -28,254 23
Corn 1,557,167 31 391,264 80 -337,137 24 -54,127 12
Coffee 222,583 15 48,767 81 -51,363 23 2,596 16
Sugar 849,814 12 195,403 77 -234,496 24 39,093 56
Wheat 333,705 12 23,881 50 -19,863 31 -4,018 90

 


CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week equaled a net position of 391,264 contracts in the data reported through Tuesday. This was a weekly reduction of -12,936 contracts from the previous week which had a total of 404,200 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 80.0 percent. The commercials are Bearish with a score of 23.9 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.9 percent.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 33.4 43.2 8.8
– Percent of Open Interest Shorts: 8.3 64.9 12.3
– Net Position: 391,264 -337,137 -54,127
– Gross Longs: 520,783 673,039 137,311
– Gross Shorts: 129,519 1,010,176 191,438
– Long to Short Ratio: 4.0 to 1 0.7 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 80.0 23.9 11.9
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -13.6 15.7 -2.2

 


SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week equaled a net position of 195,403 contracts in the data reported through Tuesday. This was a weekly decline of -6,277 contracts from the previous week which had a total of 201,680 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 76.8 percent. The commercials are Bearish with a score of 23.7 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: 29.7 45.1 10.6
– Percent of Open Interest Shorts: 6.7 72.7 6.0
– Net Position: 195,403 -234,496 39,093
– Gross Longs: 252,688 383,138 90,314
– Gross Shorts: 57,285 617,634 51,221
– Long to Short Ratio: 4.4 to 1 0.6 to 1 1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 76.8 23.7 56.2
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -5.6 5.0 0.8

 


COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week equaled a net position of 48,767 contracts in the data reported through Tuesday. This was a weekly boost of 5,752 contracts from the previous week which had a total of 43,015 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 Bullish-Extreme with a score of 81.0 percent. The commercials are Bearish with a score of 22.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 16.0 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.8 48.7 4.1
– Percent of Open Interest Shorts: 3.9 71.8 3.0
– Net Position: 48,767 -51,363 2,596
– Gross Longs: 57,417 108,343 9,164
– Gross Shorts: 8,650 159,706 6,568
– Long to Short Ratio: 6.6 to 1 0.7 to 1 1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 81.0 22.6 16.0
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 6.0 -5.3 -11.4

 


SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week equaled a net position of 176,644 contracts in the data reported through Tuesday. This was a weekly reduction of -9,434 contracts from the previous week which had a total of 186,078 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 67.9 percent. The commercials are Bearish with a score of 39.2 percent and the small traders (not shown in chart) are Bearish with a score of 23.3 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.2 47.3 6.5
– Percent of Open Interest Shorts: 7.0 66.8 10.2
– Net Position: 176,644 -148,390 -28,254
– Gross Longs: 229,895 359,587 49,303
– Gross Shorts: 53,251 507,977 77,557
– Long to Short Ratio: 4.3 to 1 0.7 to 1 0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 67.9 39.2 23.3
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -8.3 8.8 -3.8

 


SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week equaled a net position of 78,645 contracts in the data reported through Tuesday. This was a weekly advance of 3,604 contracts from the previous week which had a total of 75,041 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 58.3 percent. The commercials are Bearish with a score of 38.5 percent and the small traders (not shown in chart) are Bullish with a score of 75.4 percent.

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.9 48.2 9.2
– Percent of Open Interest Shorts: 7.2 72.1 5.0
– Net Position: 78,645 -95,258 16,613
– Gross Longs: 107,372 192,493 36,684
– Gross Shorts: 28,727 287,751 20,071
– Long to Short Ratio: 3.7 to 1 0.7 to 1 1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 58.3 38.5 75.4
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -18.9 17.2 -1.2

 


SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week equaled a net position of 89,676 contracts in the data reported through Tuesday. This was a weekly advance of 8,922 contracts from the previous week which had a total of 80,754 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 77.4 percent. The commercials are Bearish with a score of 23.0 percent and the small traders (not shown in chart) are Bullish with a score of 65.9 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.3 43.9 12.2
– Percent of Open Interest Shorts: 4.8 74.2 5.5
– Net Position: 89,676 -115,261 25,585
– Gross Longs: 107,791 167,306 46,628
– Gross Shorts: 18,115 282,567 21,043
– Long to Short Ratio: 6.0 to 1 0.6 to 1 2.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 77.4 23.0 65.9
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -14.8 14.0 -1.2

 


LIVE CATTLE Futures:

LIVE CATTLE Futures COT ChartThe LIVE CATTLE large speculator standing this week equaled a net position of 25,428 contracts in the data reported through Tuesday. This was a weekly increase of 5,888 contracts from the previous week which had a total of 19,540 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 11.3 percent. The commercials are Bullish-Extreme with a score of 80.2 percent and the small traders (not shown in chart) are Bullish with a score of 77.6 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 35.5 40.5 11.5
– Percent of Open Interest Shorts: 26.9 48.7 11.9
– Net Position: 25,428 -24,212 -1,216
– Gross Longs: 104,585 119,324 33,798
– Gross Shorts: 79,157 143,536 35,014
– 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): 11.3 80.2 77.6
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -45.0 38.3 27.7

 


LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week equaled a net position of 10,491 contracts in the data reported through Tuesday. This was a weekly gain of 1,274 contracts from the previous week which had a total of 9,217 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 18.2 percent. The commercials are Bullish-Extreme with a score of 89.8 percent and the small traders (not shown in chart) are Bullish with a score of 58.1 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.3 41.7 9.9
– Percent of Open Interest Shorts: 24.9 43.3 13.6
– Net Position: 10,491 -3,090 -7,401
– Gross Longs: 59,207 81,583 19,271
– Gross Shorts: 48,716 84,673 26,672
– 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): 18.2 89.8 58.1
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -23.8 27.8 -8.7

 


COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week equaled a net position of 70,682 contracts in the data reported through Tuesday. This was a weekly decline of -2 contracts from the previous week which had a total of 70,684 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 31.0 percent and the small traders (not shown in chart) are Bullish with a score of 73.4 percent.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 40.9 37.7 8.2
– Percent of Open Interest Shorts: 7.5 75.7 3.6
– Net Position: 70,682 -80,347 9,665
– Gross Longs: 86,609 79,718 17,332
– Gross Shorts: 15,927 160,065 7,667
– Long to Short Ratio: 5.4 to 1 0.5 to 1 2.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 67.7 31.0 73.4
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -7.1 7.6 -12.1

 


COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week equaled a net position of 14,494 contracts in the data reported through Tuesday. This was a weekly lift of 4,341 contracts from the previous week which had a total of 10,153 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 31.8 percent. The commercials are Bullish with a score of 68.6 percent and the small traders (not shown in chart) are Bearish with a score of 29.8 percent.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.4 43.9 5.2
– Percent of Open Interest Shorts: 26.3 50.1 4.0
– Net Position: 14,494 -17,823 3,329
– Gross Longs: 89,997 125,905 14,861
– Gross Shorts: 75,503 143,728 11,532
– Long to Short Ratio: 1.2 to 1 0.9 to 1 1.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 31.8 68.6 29.8
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -10.0 11.3 -14.6

 


WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week equaled a net position of 23,881 contracts in the data reported through Tuesday. This was a weekly advance of 1,572 contracts from the previous week which had a total of 22,309 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 Bullish with a score of 50.1 percent. The commercials are Bearish with a score of 31.4 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 89.6 percent.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.9 34.8 10.4
– Percent of Open Interest Shorts: 25.7 40.8 11.6
– Net Position: 23,881 -19,863 -4,018
– Gross Longs: 109,678 116,146 34,706
– Gross Shorts: 85,797 136,009 38,724
– Long to Short Ratio: 1.3 to 1 0.9 to 1 0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 50.1 31.4 89.6
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 2.9 -3.5 1.2

 


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*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.

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

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

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

The latest 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:

CORN Futures COT ChartThe 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:

SUGAR Futures COT ChartThe 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:

COFFEE Futures COT ChartThe 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:

SOYBEANS Futures COT ChartThe 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:

SOYBEAN OIL Futures COT ChartThe 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:

SOYBEAN MEAL Futures COT ChartThe 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:

LIVE CATTLE Futures COT ChartThe 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:

LEAN HOGS Futures COT ChartThe 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:

COTTON Futures COT ChartThe 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:

COCOA Futures COT ChartThe 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:

WHEAT Futures COT ChartThe 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 InvestMacroReceive 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.

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

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

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

The latest 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:

CORN Futures COT ChartThe 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:

SUGAR Futures COT ChartThe 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:

COFFEE Futures COT ChartThe 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:

SOYBEANS Futures COT ChartThe 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:

SOYBEAN OIL Futures COT ChartThe 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:

SOYBEAN MEAL Futures COT ChartThe 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:

LIVE CATTLE Futures COT ChartThe 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:

LEAN HOGS Futures COT ChartThe 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:

COTTON Futures COT ChartThe 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:

COCOA Futures COT ChartThe 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:

WHEAT Futures COT ChartThe 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 InvestMacroReceive 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.

The impact of Indonesia’s ban on palm oil exports reverberated across the globe

By Steffi Hamann, University of Guelph 

– Amid an ongoing global food price crisis, vegetable oils are registering record-breaking highs. According to data compiled by the Food and Agriculture Organization of the United Nations, the price for edible oils rose to almost 250 per cent of standard price levels.

Over the past two years, labour restrictions, climate change and violent conflict have contributed to this latest oil crisis. As the COVID-19 pandemic spread rapidly across six continents, lockdowns resulted in work restrictions, affecting production sites and processing facilities in strategic locations such as Indonesia and Malaysia. These two countries are the top producers of palm oil, accounting for approximately 40 per cent of the vegetable oil market.

The FAO Vegetable Oil Price Index depicts monthly fluctuations in the trading prices of common edible oils compared to the 2014-16 standard reference period.
(FAO, adapted by the author)

The other major commodities in this sector — soybean oil, canola oil and sunflower oil — fared even worse. A combination of heatwaves and droughts wiped out millions of tonnes in South America’s soybean harvest and decimated the canola harvest in Canada, which fell to a nine-year low.

In a catastrophic turn of events in Europe, the Russian invasion of Ukraine caused the price of sunflower oil to soar. When shipments of the important export crop came to a halt due to conflict-induced logistical bottlenecks in the supply chain, the market reacted instantly: futures contracts for sunflower oil suddenly swelled to US$2,361 from the previous year’s US$1,404 per tonne.

Given the market disruptions, commodity traders turned their attention back to palm oil, the cheapest and most abundant vegetable oil. Oil palm plantations yield an average of approximately three tonnes of oil per hectare each year, while other oil-producing crops generate less than one tonne of crude oil per hectare.

As the leading producer, Indonesia accounts for almost two-thirds of global palm oil exports. So, when Indonesian President Joko Widodo announced an unprecedented ban on palm oil exports in late April, he sent a shock wave across agri-food markets. What moved him to take such a radical step?

Soaring domestic demand, rising political pressure

When the price of vegetable oils began to rise steeply, the Indonesian government scrambled to find effective domestic measures that would protect consumers. Policy-makers initially decreed a price cap on palm oil and imposed a limit of two litres per customer as a rationing measure.

They later increased the levy on palm oil exports and offered direct cash transfers to low-income citizens to subsidize purchases of the staple food. None of their strategies solved the problem.

For palm oil producers, it is much more lucrative to sell their stock abroad instead of to the Indonesian market. The small group of businesses that control the country’s palm oil sector benefited financially from the high international prices for edible oils. By allocating more and more of their oil to the export market, they created a bottleneck in the domestic supply chain.

Public discontent grew in light of the administration’s inability to stabilize prices, unleashing a wave of protests in mid-April. The pressure escalated towards the end of the month. Eid al-Fitr, the Muslim celebration that marks the end of the month-long fasting during Ramadan, took place in the beginning of May this year.

Preparations for the festivities caused an upsurge in the demand of cooking oil in Indonesia. For the first time in two years of COVID-19 restrictions, people were hosting extravagant feasts. It was within this context that the Indonesian government ultimately decided to ban the export of crude and refined palm oil.

Implications around the world

Although the export ban temporarily quieted domestic critics, the rest of the world was bewildered by the new trade policy. Immediate repercussions were felt most strongly in populous nations that rely on the import of vegetable oils for their cooking needs, like India, Pakistan, Bangladesh and Egypt.

While North American and European consumers rarely use palm oil in their frying pans, they encounter refined, bleached and deodorized palm oil on a daily basis. It is a versatile ingredient used in processed foods and consumer goods including shower gel, dish soap, lipstick, cookies, instant noodles and packaged bread.

These, and other household goods, will likely be affected by the global vegetable oil crunch, but the impacts tend to be most dire for the world’s poorest regions.

From previous market disruptions, we know that rising food prices fuel harmful behaviours, ranging from panic purchases and commodity speculation, to an increased appetite for land acquisitions in the agri-food sector. This greatly affects low-income countries whose economies rely chiefly on agriculture and the export of primary goods. The majority of these nations are located in sub-Saharan Africa and South America.

Avoiding a spiral of adverse effects will require policy measures designed to keep excessive speculation in check. Enhancing transparency in the global food market requires prioritizing the needs of farmers and consumers rather than those who seek to profit financially from the vegetable oil price hikes.

The end of the Indonesian palm oil ban is an important first step to return the situation to normal. Three weeks after stopping exports, President Widodo has just reversed his decision in response to mounting pressures from palm oil producers. While this move may lead to new protests on the streets of Jakarta, it is good news for international markets in a tumultuous time.The Conversation

About the Author:

Steffi Hamann, Assistant Professor of Political Science and International Development Studies, University of Guelph

This article is republished from The Conversation under a Creative Commons license. Read the original article.

COT Futures Charts: Soft Commodities Speculator bets mixed

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

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

The latest 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.

Soft Commodities market speculator bets were mixed this week as five out of the eleven softs markets we cover had higher positioning this week while six markets saw lower positions. Leading the gains for the soft commodities was Sugar (9,445 contracts) and Soybeans (9,039 contracts) with Wheat (7,120 contracts), Coffee (5,932 contracts) and Corn (2,835 contracts) also showing a positive week. Meanwhile, leading the declines in speculator bets this week were Soybean Meal (-10,832 contracts) and Lean Hogs (-8,595 contracts) with Live Cattle (-4,773 contracts), Soybean Oil (-4,295 contracts), Cotton (-2,443 contracts) and Cocoa (-2,463 contracts) also coming in with lower bets on the week.


Data Snapshot of Commodity Market Traders | Columns Legend
May-17-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 1,730,665 0 325,637 7 -363,869 95 38,232 69
Gold 555,756 30 175,360 33 -206,879 65 31,519 48
Silver 144,534 11 16,114 38 -24,841 75 8,727 0
Copper 189,483 19 -24,408 25 23,059 75 1,349 33
Palladium 9,114 13 -3,215 3 3,621 97 -406 20
Platinum 65,926 32 2,203 7 -6,697 96 4,494 25
Natural Gas 1,118,417 8 -115,012 44 64,340 51 50,672 100
Brent 176,861 21 -34,867 53 32,127 47 2,740 46
Heating Oil 349,618 31 6,455 52 -32,434 37 25,979 88
Soybeans 709,144 24 183,647 73 -156,937 33 -26,710 26
Corn 1,548,438 29 473,743 91 -424,756 11 -48,987 15
Coffee 206,106 0 38,487 72 -40,949 32 2,462 13
Sugar 825,281 6 196,630 77 -245,374 22 48,744 68
Wheat 326,651 8 28,806 57 -26,020 23 -2,786 98

 


CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week came in at a net position of 473,743 contracts in the data reported through Tuesday. This was a weekly lift of 2,835 contracts from the previous week which had a total of 470,908 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 90.6 percent. The commercials are Bearish-Extreme with a score of 11.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 14.8 percent.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 38.1 42.2 9.3
– Percent of Open Interest Shorts: 7.5 69.6 12.4
– Net Position: 473,743 -424,756 -48,987
– Gross Longs: 589,352 653,039 143,508
– Gross Shorts: 115,609 1,077,795 192,495
– Long to Short Ratio: 5.1 to 1 0.6 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 90.6 11.4 14.8
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.7 -0.1 8.0

 


SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week came in at a net position of 196,630 contracts in the data reported through Tuesday. This was a weekly advance of 9,445 contracts from the previous week which had a total of 187,185 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 77.0 percent. The commercials are Bearish with a score of 21.6 percent and the small traders (not shown in chart) are Bullish with a score of 68.1 percent.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.6 45.9 11.4
– Percent of Open Interest Shorts: 6.8 75.6 5.5
– Net Position: 196,630 -245,374 48,744
– Gross Longs: 252,752 378,422 94,457
– Gross Shorts: 56,122 623,796 45,713
– Long to Short Ratio: 4.5 to 1 0.6 to 1 2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 77.0 21.6 68.1
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 1.7 -1.0 -3.5

 


COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week came in at a net position of 38,487 contracts in the data reported through Tuesday. This was a weekly increase of 5,932 contracts from the previous week which had a total of 32,555 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 72.1 percent. The commercials are Bearish with a score of 32.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 12.7 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 24.0 54.0 4.1
– Percent of Open Interest Shorts: 5.3 73.9 2.9
– Net Position: 38,487 -40,949 2,462
– Gross Longs: 49,501 111,397 8,495
– Gross Shorts: 11,014 152,346 6,033
– Long to Short Ratio: 4.5 to 1 0.7 to 1 1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 72.1 32.1 12.7
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -4.6 7.1 -21.6

 


SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week came in at a net position of 183,647 contracts in the data reported through Tuesday. This was a weekly rise of 9,039 contracts from the previous week which had a total of 174,608 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 72.6 percent. The commercials are Bearish with a score of 33.0 percent and the small traders (not shown in chart) are Bearish with a score of 25.9 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.7 47.8 7.0
– Percent of Open Interest Shorts: 6.8 69.9 10.8
– Net Position: 183,647 -156,937 -26,710
– Gross Longs: 231,911 338,718 49,750
– Gross Shorts: 48,264 495,655 76,460
– Long to Short Ratio: 4.8 to 1 0.7 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 72.6 33.0 25.9
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -4.3 3.7 2.3

 


SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week came in at a net position of 96,301 contracts in the data reported through Tuesday. This was a weekly decline of -4,295 contracts from the previous week which had a total of 100,596 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 72.5 percent. The commercials are Bearish with a score of 23.8 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 93.4 percent.

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.1 46.1 10.6
– Percent of Open Interest Shorts: 5.2 77.7 4.9
– Net Position: 96,301 -117,724 21,423
– Gross Longs: 115,709 171,880 39,590
– Gross Shorts: 19,408 289,604 18,167
– Long to Short Ratio: 6.0 to 1 0.6 to 1 2.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 72.5 23.8 93.4
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 4.2 -7.1 21.4

 


SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week came in at a net position of 73,300 contracts in the data reported through Tuesday. This was a weekly decrease of -10,832 contracts from the previous week which had a total of 84,132 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 68.3 percent. The commercials are Bearish with a score of 30.6 percent and the small traders (not shown in chart) are Bullish with a score of 75.3 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.6 47.3 13.9
– Percent of Open Interest Shorts: 8.4 75.2 6.3
– Net Position: 73,300 -100,729 27,429
– Gross Longs: 103,499 171,144 50,082
– Gross Shorts: 30,199 271,873 22,653
– Long to Short Ratio: 3.4 to 1 0.6 to 1 2.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 68.3 30.6 75.3
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -28.1 27.7 -14.2

 


LIVE CATTLE Futures:

LIVE CATTLE Futures COT ChartThe LIVE CATTLE large speculator standing this week came in at a net position of 35,030 contracts in the data reported through Tuesday. This was a weekly lowering of -4,773 contracts from the previous week which had a total of 39,803 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 22.7 percent. The commercials are Bullish with a score of 70.8 percent and the small traders (not shown in chart) are Bullish with a score of 69.3 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 35.6 39.2 10.8
– Percent of Open Interest Shorts: 24.0 49.7 12.0
– Net Position: 35,030 -31,417 -3,613
– Gross Longs: 107,168 117,903 32,549
– Gross Shorts: 72,138 149,320 36,162
– Long to Short Ratio: 1.5 to 1 0.8 to 1 0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 22.7 70.8 69.3
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -17.2 12.4 16.6

 


LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week came in at a net position of 7,765 contracts in the data reported through Tuesday. This was a weekly lowering of -8,595 contracts from the previous week which had a total of 16,360 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 15.2 percent. The commercials are Bullish-Extreme with a score of 90.3 percent and the small traders (not shown in chart) are Bullish with a score of 70.0 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.9 39.9 10.5
– Percent of Open Interest Shorts: 25.1 41.2 13.0
– Net Position: 7,765 -2,647 -5,118
– Gross Longs: 58,847 81,203 21,361
– Gross Shorts: 51,082 83,850 26,479
– 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): 15.2 90.3 70.0
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -41.1 42.7 8.5

 


COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week came in at a net position of 79,316 contracts in the data reported through Tuesday. This was a weekly decrease of -2,443 contracts from the previous week which had a total of 81,759 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 73.2 percent. The commercials are Bearish with a score of 24.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 85.4 percent.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 45.1 34.6 9.2
– Percent of Open Interest Shorts: 6.0 79.4 3.5
– Net Position: 79,316 -90,872 11,556
– Gross Longs: 91,525 70,065 18,559
– Gross Shorts: 12,209 160,937 7,003
– Long to Short Ratio: 7.5 to 1 0.4 to 1 2.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 73.2 24.9 85.4
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -3.2 4.0 -12.1

 


COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week came in at a net position of 18,583 contracts in the data reported through Tuesday. This was a weekly fall of -2,463 contracts from the previous week which had a total of 21,046 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 35.8 percent. The commercials are Bullish with a score of 62.9 percent and the small traders (not shown in chart) are Bearish with a score of 47.4 percent.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.9 44.5 5.7
– Percent of Open Interest Shorts: 23.5 52.6 4.0
– Net Position: 18,583 -23,668 5,085
– Gross Longs: 87,225 129,740 16,687
– Gross Shorts: 68,642 153,408 11,602
– Long to Short Ratio: 1.3 to 1 0.8 to 1 1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 35.8 62.9 47.4
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -17.7 19.0 -14.9

 


WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week came in at a net position of 28,806 contracts in the data reported through Tuesday. This was a weekly advance of 7,120 contracts from the previous week which had a total of 21,686 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 56.5 percent. The commercials are Bearish with a score of 22.7 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 98.3 percent.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 37.2 36.8 10.4
– Percent of Open Interest Shorts: 28.4 44.8 11.3
– Net Position: 28,806 -26,020 -2,786
– Gross Longs: 121,593 120,341 33,993
– Gross Shorts: 92,787 146,361 36,779
– 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): 56.5 22.7 98.3
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 11.5 -15.2 9.7

 


Article By InvestMacroReceive 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.

COT Soft Commodities Charts: Speculator bets mostly cool off this week

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

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

The latest COT data is updated through Tuesday May 10th 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 cooled off this week with nine out of the eleven markets we cover showing a decrease in their positioning. Soft commodities markets have been red hot this year with the war in Ukraine causing food disruptions, general production problems, food protectionism and, of course, with inflation rising throughout the world.

Overall, the soft commodities that saw higher bets this week were just Soybean Oil (3,305 contracts) and Wheat (1,674 contracts).

Meanwhile, the soft commodities that saw lower speculator bets on the week were Corn (-30,957 contracts), Sugar (-14,407 contracts), Coffee (-8,142 contracts), Soybeans (-15,794 contracts), Soybean Meal (-15,429 contracts), Live Cattle (-7,233 contracts), Lean Hogs (-5,671 contracts), Cotton (-1,674 contracts) and Cocoa (-15,513 contracts).


Data Snapshot of Commodity Market Traders | Columns Legend
May-10-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 1,736,594 0 310,803 2 -354,479 98 43,676 77
Gold 571,447 34 193,315 40 -227,756 57 34,441 57
Silver 142,752 9 19,082 41 -30,519 69 11,437 9
Copper 184,502 15 -22,626 26 19,249 73 3,377 45
Palladium 8,832 11 -3,245 3 3,434 96 -189 33
Platinum 66,064 32 1,363 5 -5,373 98 4,010 18
Natural Gas 1,108,451 6 -112,529 45 64,006 51 48,523 100
Brent 173,911 19 -31,215 59 30,562 44 653 18
Heating Oil 349,618 31 6,455 52 -32,434 37 25,979 88
Soybeans 694,454 20 174,608 72 -147,698 33 -26,910 26
Corn 1,510,783 23 470,908 90 -415,345 13 -55,563 11
Coffee 212,659 5 32,555 69 -33,559 37 1,004 0
Sugar 797,453 0 187,185 75 -220,611 26 33,426 49
Wheat 308,326 0 21,686 48 -17,779 34 -3,907 92

 


CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week totaled a net position of 470,908 contracts in the data reported through Tuesday. This was a weekly reduction of -30,957 contracts from the previous week which had a total of 501,865 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 90.2 percent. The commercials are Bearish-Extreme with a score of 12.8 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.1 percent.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 37.9 42.7 8.9
– Percent of Open Interest Shorts: 6.8 70.2 12.6
– Net Position: 470,908 -415,345 -55,563
– Gross Longs: 573,327 644,830 134,903
– Gross Shorts: 102,419 1,060,175 190,466
– Long to Short Ratio: 5.6 to 1 0.6 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 90.2 12.8 11.1
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.4 1.3 1.1

 


SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week totaled a net position of 187,185 contracts in the data reported through Tuesday. This was a weekly lowering of -14,407 contracts from the previous week which had a total of 201,592 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 Bullish with a score of 75.1 percent. The commercials are Bearish with a score of 26.3 percent and the small traders (not shown in chart) are Bearish with a score of 49.2 percent.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.5 45.8 10.8
– Percent of Open Interest Shorts: 8.0 73.5 6.6
– Net Position: 187,185 -220,611 33,426
– Gross Longs: 251,330 365,263 86,129
– Gross Shorts: 64,145 585,874 52,703
– Long to Short Ratio: 3.9 to 1 0.6 to 1 1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 75.1 26.3 49.2
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 5.3 -3.4 -9.6

 


COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week totaled a net position of 32,555 contracts in the data reported through Tuesday. This was a weekly decrease of -8,142 contracts from the previous week which had a total of 40,697 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 69.2 percent. The commercials are Bearish with a score of 36.5 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 0.0 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 23.8 56.1 3.6
– Percent of Open Interest Shorts: 8.5 71.9 3.1
– Net Position: 32,555 -33,559 1,004
– Gross Longs: 50,564 119,399 7,690
– Gross Shorts: 18,009 152,958 6,686
– Long to Short Ratio: 2.8 to 1 0.8 to 1 1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 69.2 36.5 0.0
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -4.9 7.3 -20.9

 


SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week totaled a net position of 174,608 contracts in the data reported through Tuesday. This was a weekly fall of -15,794 contracts from the previous week which had a total of 190,402 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 71.9 percent. The commercials are Bearish with a score of 33.1 percent and the small traders (not shown in chart) are Bearish with a score of 25.6 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.4 48.2 7.1
– Percent of Open Interest Shorts: 7.3 69.5 11.0
– Net Position: 174,608 -147,698 -26,910
– Gross Longs: 225,260 334,792 49,376
– Gross Shorts: 50,652 482,490 76,286
– Long to Short Ratio: 4.4 to 1 0.7 to 1 0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 71.9 33.1 25.6
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -8.3 7.8 1.3

 


SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week totaled a net position of 100,596 contracts in the data reported through Tuesday. This was a weekly lift of 3,305 contracts from the previous week which had a total of 97,291 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 76.6 percent. The commercials are Bearish with a score of 21.8 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 81.5 percent.

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.0 45.8 9.9
– Percent of Open Interest Shorts: 4.8 77.9 5.0
– Net Position: 100,596 -118,831 18,235
– Gross Longs: 118,463 169,761 36,820
– Gross Shorts: 17,867 288,592 18,585
– Long to Short Ratio: 6.6 to 1 0.6 to 1 2.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 76.6 21.8 81.5
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 7.7 -8.6 10.0

 


SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week totaled a net position of 84,132 contracts in the data reported through Tuesday. This was a weekly reduction of -15,429 contracts from the previous week which had a total of 99,561 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 74.3 percent. The commercials are Bearish with a score of 26.8 percent and the small traders (not shown in chart) are Bullish with a score of 57.5 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.7 47.1 12.5
– Percent of Open Interest Shorts: 7.4 77.1 5.9
– Net Position: 84,132 -108,059 23,927
– Gross Longs: 110,648 169,583 45,065
– Gross Shorts: 26,516 277,642 21,138
– Long to Short Ratio: 4.2 to 1 0.6 to 1 2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 74.3 26.8 57.5
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -21.0 22.2 -25.5

 


LIVE CATTLE Futures:

The LIVE CATTLE large speculator standing this week totaled a net position of 39,803 contracts in the data reported through Tuesday. This was a weekly fall of -7,233 contracts from the previous week which had a total of 47,036 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 26.5 percent. The commercials are Bullish with a score of 66.7 percent and the small traders (not shown in chart) are Bullish with a score of 67.9 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 36.0 38.1 10.8
– Percent of Open Interest Shorts: 23.1 49.7 12.1
– Net Position: 39,803 -35,783 -4,020
– Gross Longs: 111,188 117,509 33,291
– Gross Shorts: 71,385 153,292 37,311
– Long to Short Ratio: 1.6 to 1 0.8 to 1 0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 26.5 66.7 67.9
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -14.7 8.4 22.1

 


LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week totaled a net position of 16,360 contracts in the data reported through Tuesday. This was a weekly reduction of -5,671 contracts from the previous week which had a total of 22,031 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 24.6 percent. The commercials are Bullish-Extreme with a score of 80.7 percent and the small traders (not shown in chart) are Bullish with a score of 67.8 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.7 38.0 10.2
– Percent of Open Interest Shorts: 23.1 43.0 12.8
– Net Position: 16,360 -10,817 -5,543
– Gross Longs: 66,483 82,353 22,102
– Gross Shorts: 50,123 93,170 27,645
– Long to Short Ratio: 1.3 to 1 0.9 to 1 0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 24.6 80.7 67.8
– Strength Index Reading (3 Year Range): Bearish Bullish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -40.1 40.4 13.7

 


COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week totaled a net position of 81,759 contracts in the data reported through Tuesday. This was a weekly decline of -1,674 contracts from the previous week which had a total of 83,433 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 74.8 percent. The commercials are Bearish with a score of 23.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 81.2 percent.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 46.8 33.8 8.5
– Percent of Open Interest Shorts: 6.3 79.6 3.1
– Net Position: 81,759 -92,603 10,844
– Gross Longs: 94,579 68,251 17,191
– Gross Shorts: 12,820 160,854 6,347
– Long to Short Ratio: 7.4 to 1 0.4 to 1 2.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 74.8 23.9 81.2
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.5 2.7 -14.1

 


COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week totaled a net position of 21,046 contracts in the data reported through Tuesday. This was a weekly decline of -15,513 contracts from the previous week which had a total of 36,559 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 Bearish with a score of 38.3 percent. The commercials are Bullish with a score of 59.9 percent and the small traders (not shown in chart) are Bullish with a score of 53.8 percent.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.0 44.1 6.1
– Percent of Open Interest Shorts: 23.5 53.6 4.0
– Net Position: 21,046 -26,770 5,724
– Gross Longs: 87,140 124,216 17,042
– Gross Shorts: 66,094 150,986 11,318
– Long to Short Ratio: 1.3 to 1 0.8 to 1 1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 38.3 59.9 53.8
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -18.3 21.1 -30.6

 


WHEAT Futures:

The WHEAT large speculator standing this week totaled a net position of 21,686 contracts in the data reported through Tuesday. This was a weekly gain of 1,674 contracts from the previous week which had a total of 20,012 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 48.3 percent. The commercials are Bearish with a score of 34.4 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 92.3 percent.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 36.2 39.1 9.7
– Percent of Open Interest Shorts: 29.1 44.9 10.9
– Net Position: 21,686 -17,779 -3,907
– Gross Longs: 111,546 120,631 29,835
– Gross Shorts: 89,860 138,410 33,742
– 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): 48.3 34.4 92.3
– Strength Index Reading (3 Year Range): Bearish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 10.4 -11.9 1.2

 


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*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.