Archive for Soft Commodities – Page 4

18 May

COT Soft Commodities Charts: Speculator bets led higher by Corn & Wheat

By InvestMacro

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

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

Weekly Speculator Changes led by Corn & Wheat

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

Leading the gains for the softs markets was Corn (31,578 contracts) with Wheat (12,370 contracts), Soybean Meal (8,815 contracts), Cocoa (1,396 contracts), Live Cattle (1,184 contracts) and Soybean Oil (1,021 contracts) also showing positive weeks.

The markets with the declines in speculator bets this week were Lean Hogs (-6,315 contracts), Soybeans (-5,927 contracts), Coffee (-5,666 contracts), Sugar (-2,670 contracts) and with Cotton (-1,737 contracts) also registering lower bets on the week.

Soft Commodities Net Speculators Leaderboard

Legend: Weekly Speculators Change | Speculators Current Net Position | Speculators Strength Score compared to last 3-Years (0-100 range)

Strength Scores led by Coffee & Wheat

COT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that Coffee (82 percent) and Wheat (64 percent) lead the softs markets this week. Soybean Meal (61 percent) and Lean Hogs (56 percent) come in as the next highest in the weekly strength scores.

On the downside, Sugar (0 percent), Soybean Oil (4 percent) and Cotton (14 percent) come in at the lowest strength levels currently and are in Extreme-Bearish territory (below 20 percent).

Strength Statistics:
Corn (33.9 percent) vs Corn previous week (29.9 percent)
Sugar (0.0 percent) vs Sugar previous week (1.0 percent)
Coffee (81.7 percent) vs Coffee previous week (87.2 percent)
Soybeans (31.0 percent) vs Soybeans previous week (32.4 percent)
Soybean Oil (3.6 percent) vs Soybean Oil previous week (3.0 percent)
Soybean Meal (61.4 percent) vs Soybean Meal previous week (57.7 percent)
Live Cattle (27.1 percent) vs Live Cattle previous week (25.8 percent)
Lean Hogs (56.0 percent) vs Lean Hogs previous week (61.2 percent)
Cotton (13.5 percent) vs Cotton previous week (14.8 percent)
Cocoa (38.5 percent) vs Cocoa previous week (37.1 percent)
Wheat (63.7 percent) vs Wheat previous week (55.2 percent)

Soybean Meal & Wheat top the 6-Week Strength Trends

COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Soybean Meal (50 percent) and Wheat (38 percent) lead the past six weeks trends for soft commodities. Corn (23 percent) and Soybeans (22 percent) are the next highest positive movers in the latest trends data.

Cotton (-62 percent) leads the downside trend scores currently with Sugar (-33 percent), Soybean Oil (-29 percent) and Live Cattle (-17 percent) following next with lower trend scores.

Strength Trend Statistics:
Corn (23.1 percent) vs Corn previous week (18.7 percent)
Sugar (-33.1 percent) vs Sugar previous week (-26.0 percent)
Coffee (-10.0 percent) vs Coffee previous week (6.7 percent)
Soybeans (21.7 percent) vs Soybeans previous week (22.1 percent)
Soybean Oil (-28.6 percent) vs Soybean Oil previous week (-26.1 percent)
Soybean Meal (49.7 percent) vs Soybean Meal previous week (42.5 percent)
Live Cattle (-16.6 percent) vs Live Cattle previous week (-25.3 percent)
Lean Hogs (-9.1 percent) vs Lean Hogs previous week (3.0 percent)
Cotton (-62.0 percent) vs Cotton previous week (-60.6 percent)
Cocoa (-5.8 percent) vs Cocoa previous week (-10.0 percent)
Wheat (38.1 percent) vs Wheat previous week (30.5 percent)

Individual Soft Commodities Markets:

CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week resulted in a net position of 224 contracts in the data reported through Tuesday. This was a weekly lift of 31,578 contracts from the previous week which had a total of -31,354 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 33.9 percent. The commercials are Bullish with a score of 67.9 percent and the small traders (not shown in chart) are Bullish with a score of 53.7 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

CORN Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:22.341.89.1
– Percent of Open Interest Shorts:22.339.111.8
– Net Position:22440,405-40,629
– Gross Longs:337,217632,478138,445
– Gross Shorts:336,993592,073179,074
– Long to Short Ratio:1.0 to 11.1 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):33.967.953.7
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:23.1-20.2-38.9

 

SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week resulted in a net position of 25,891 contracts in the data reported through Tuesday. This was a weekly reduction of -2,670 contracts from the previous week which had a total of 28,561 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 Bearish-Extreme with a score of 0.0 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 0.0 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SUGAR Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:25.353.07.3
– Percent of Open Interest Shorts:22.254.49.0
– Net Position:25,891-11,459-14,432
– Gross Longs:209,791439,62360,523
– Gross Shorts:183,900451,08274,955
– Long to Short Ratio:1.1 to 11.0 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):0.0100.00.0
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-33.135.1-39.4

 

COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week resulted in a net position of 57,211 contracts in the data reported through Tuesday. This was a weekly lowering of -5,666 contracts from the previous week which had a total of 62,877 net contracts.

This 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-Extreme with a score of 18.6 percent and the small traders (not shown in chart) are Bullish with a score of 51.5 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COFFEE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:34.636.34.1
– Percent of Open Interest Shorts:9.063.03.0
– Net Position:57,211-59,6942,483
– Gross Longs:77,22881,0229,092
– Gross Shorts:20,017140,7166,609
– Long to Short Ratio:3.9 to 10.6 to 11.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):81.718.651.5
– Strength Index Reading (3 Year Range):Bullish-ExtremeBearish-ExtremeBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-10.09.48.3

 

SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week resulted in a net position of -65,975 contracts in the data reported through Tuesday. This was a weekly reduction of -5,927 contracts from the previous week which had a total of -60,048 net contracts.

This 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 31.0 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 70.4 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEANS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:14.959.37.3
– Percent of Open Interest Shorts:23.748.59.3
– Net Position:-65,97581,604-15,629
– Gross Longs:112,139446,69654,657
– Gross Shorts:178,114365,09270,286
– Long to Short Ratio:0.6 to 11.2 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):31.070.870.4
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:21.7-20.4-11.6

 

SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week resulted in a net position of -50,532 contracts in the data reported through Tuesday. This was a weekly gain of 1,021 contracts from the previous week which had a total of -51,553 net contracts.

This 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 3.6 percent. The commercials are Bullish-Extreme with a score of 95.5 percent and the small traders (not shown in chart) are Bearish with a score of 27.1 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEAN OIL Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:20.153.25.9
– Percent of Open Interest Shorts:29.544.55.2
– Net Position:-50,53247,1813,351
– Gross Longs:109,303288,45031,814
– Gross Shorts:159,835241,26928,463
– Long to Short Ratio:0.7 to 11.2 to 11.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):3.695.527.1
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-28.626.5-6.8

 

SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week resulted in a net position of 82,785 contracts in the data reported through Tuesday. This was a weekly increase of 8,815 contracts from the previous week which had a total of 73,970 net contracts.

This 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 61.4 percent. The commercials are Bearish with a score of 34.4 percent and the small traders (not shown in chart) are Bullish with a score of 75.4 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEAN MEAL Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:32.738.411.1
– Percent of Open Interest Shorts:14.762.15.3
– Net Position:82,785-109,37026,585
– Gross Longs:150,611176,88550,993
– Gross Shorts:67,826286,25524,408
– Long to Short Ratio:2.2 to 10.6 to 12.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):61.434.475.4
– Strength Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:49.7-52.854.6

 

LIVE CATTLE Futures:

LIVE CATTLE Futures COT ChartThe LIVE CATTLE large speculator standing this week resulted in a net position of 44,659 contracts in the data reported through Tuesday. This was a weekly advance of 1,184 contracts from the previous week which had a total of 43,475 net contracts.

This 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 27.1 percent. The commercials are Bullish with a score of 76.6 percent and the small traders (not shown in chart) are Bullish with a score of 52.9 percent.

Price Trend-Following Model: Weak Uptrend

Our weekly trend-following model classifies the current market price position as: Weak Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LIVE CATTLE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:36.935.010.1
– Percent of Open Interest Shorts:20.448.912.6
– Net Position:44,659-37,742-6,917
– Gross Longs:100,00294,85727,263
– Gross Shorts:55,343132,59934,180
– Long to Short Ratio:1.8 to 10.7 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):27.176.652.9
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-16.618.9-0.4

 

LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week resulted in a net position of 32,041 contracts in the data reported through Tuesday. This was a weekly reduction of -6,315 contracts from the previous week which had a total of 38,356 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 56.0 percent. The commercials are Bearish with a score of 44.8 percent and the small traders (not shown in chart) are Bullish with a score of 58.3 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LEAN HOGS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:33.736.57.8
– Percent of Open Interest Shorts:22.146.09.8
– Net Position:32,041-26,444-5,597
– Gross Longs:93,393101,19121,492
– Gross Shorts:61,352127,63527,089
– Long to Short Ratio:1.5 to 10.8 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):56.044.858.3
– Strength Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-9.19.05.3

 

COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week resulted in a net position of 6,399 contracts in the data reported through Tuesday. This was a weekly reduction of -1,737 contracts from the previous week which had a total of 8,136 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 13.5 percent. The commercials are Bullish-Extreme with a score of 87.5 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 3.0 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

COTTON Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:30.844.05.7
– Percent of Open Interest Shorts:27.945.96.7
– Net Position:6,399-4,249-2,150
– Gross Longs:68,15997,25912,682
– Gross Shorts:61,760101,50814,832
– Long to Short Ratio:1.1 to 11.0 to 10.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):13.587.53.0
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-62.062.9-63.3

 

COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week resulted in a net position of 27,958 contracts in the data reported through Tuesday. This was a weekly advance of 1,396 contracts from the previous week which had a total of 26,562 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 38.5 percent. The commercials are Bullish with a score of 58.4 percent and the small traders (not shown in chart) are Bullish with a score of 60.0 percent.

Price Trend-Following Model: Weak Uptrend

Our weekly trend-following model classifies the current market price position as: Weak Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COCOA Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:31.035.77.5
– Percent of Open Interest Shorts:11.958.63.6
– Net Position:27,958-33,5685,610
– Gross Longs:45,31652,23110,914
– Gross Shorts:17,35885,7995,304
– Long to Short Ratio:2.6 to 10.6 to 12.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):38.558.460.0
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-5.86.4-5.3

 

WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week resulted in a net position of -5,415 contracts in the data reported through Tuesday. This was a weekly advance of 12,370 contracts from the previous week which had a total of -17,785 net contracts.

This 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 63.7 percent. The commercials are Bearish with a score of 37.3 percent and the small traders (not shown in chart) are Bearish with a score of 28.1 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: New Buy – Long Position.

WHEAT Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:33.635.87.1
– Percent of Open Interest Shorts:34.932.29.3
– Net Position:-5,41514,159-8,744
– Gross Longs:132,484141,47528,160
– Gross Shorts:137,899127,31636,904
– Long to Short Ratio:1.0 to 11.1 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):63.737.328.1
– Strength Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:38.1-33.8-40.1

 

Article By InvestMacro – Receive our weekly COT Newsletter

*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 Updates Financial News Soft Commodities
14 May

FXTM’s Soybean: On breakout watch

By ForexTime 

  • Soybean ↑ 5% month-to-date
  • Influenced by various fundamentals
  • Trapped in range on W1 timeframe
  • Breakout on the horizon?
  • Key levels at 1211, 1188, 1170

After bouncing within a weekly range since mid-January, FXTM’s new Soybean commodity could be on the brink of a major breakout!

Prices are flirting around the 1200 weekly resistance level as bulls and bears wait for a fresh directional catalyst.

Note: Soybean is priced per bushel. One bushel is equivalent to 60 pounds.

Before we break down the fundamentals, here are some fun facts about soybean:

  • Ancient crop that originates from China
  • More than 2500 varieties
  • Brazil is the biggest producer & exporter
  • China is the biggest importer
  • Gained over 5% month-to-date

What is Soybean?

Soybeans are simply the edible beans of the soya plant.

They come in many different shapes and sizes boasting various uses.

Humans and animals can consume this bean, also used for industrial and consumer products!

Note: Soya oil is extracted from Soybean. Soybean meal is the by-product of the extraction process.

Both can be traded along with Soybean on the CBOT (Chicago Board of Trade).

What does FXTM’s Soybean track?

FXTM’s Soybean tracks the CME Group’s Soybean futures, providing access to one of the world’s most widely grown crops.

The lowdown…

Soybean prices have been shaky in 2024, shedding almost 7% year-to-date.

A combination of rising global stockpiles and uncertainty over China’s demand has pressured the commodity.

Back in March, reports showed that China imported 13.04 million metric tons of soybeans for the first two months of 2024 – the lowest in 5 years.

Considering how China accounts for roughly 60% of global imports, it plays a key role in Soybeans outlook.

The bigger picture…

Brazil, the United States, and Argentina account for roughly 80% of total Soybean production.

Developments in these regions along with demand from China are likely to heavily influence the outlook for 2024.

There have been reports of severe weather conditions in Brazil threatening supplies of key agricultural commodities including soybeans. These concerns were reflected in the latest USDA report published last Friday which lowered estimates for Brazil’s production.

However, U.S. farmers are expected to produce near-record amounts of Soybean this year – adding to the rising global inventories.

What does this mean?

The various fundamental forces pulling and tugging at Soybeans could translate to fresh volatility.

Where there is volatility, this presents fresh opportunity.

Technical outlook…

Soybean prices remain in a wide range on the weekly charts with key support found around 1130 and resistance at 1200.

Zooming into the H1 timeframe, another range is in play with support at 1188 and resistance at 1211. Prices are trading below the 100 and 50 SMA and currently testing the 200 SMA.

  • A solid H1 close below 1188 could inspire a decline towards 1170.

  • Should prices push back above the 50 SMA, this could open a path back to 1211.

  • A break above 1211 may see prices test 1220 and 1235.

Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Opinions Soft Commodities
11 May

COT Soft Commodities Charts: Speculator bets led by Corn & Soybeans

By InvestMacro

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

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

Weekly Speculator Changes led by Corn & Soybeans

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

Leading the gains for the softs markets was Corn (112,070 contracts) with Soybeans (102,295 contracts), Soybean Meal (41,851 contracts), Wheat (6,671 contracts) and Soybean Oil (4,889 contracts) also showing positive weeks.

The markets with the declines in speculator bets this week were Lean Hogs (-13,582 contracts), Sugar (-11,744 contracts), Cotton (-11,086 contracts), Coffee (-5,713 contracts), Live Cattle (-328 contracts) and with Cocoa (-590 contracts) also registering lower bets on the week.

Soft Commodities Net Speculators Leaderboard

Legend: Weekly Speculators Change | Speculators Current Net Position | Speculators Strength Score compared to last 3-Years (0-100 range)

Strength Scores led by Coffee & Lean Hogs

COT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that Coffee (87 percent) and Lean Hogs (61 percent) lead the softs markets this week. Soybean Meal (58 percent) and Wheat (55 percent) come in as the next highest in the weekly strength scores.

On the downside, Sugar (1 percent), Soybean Oil (3 percent) and Cotton (15 percent) come in at the lowest strength levels currently and are in Extreme-Bearish territory (below 20 percent).

Strength Statistics:
Corn (29.9 percent) vs Corn previous week (15.6 percent)
Sugar (0.9 percent) vs Sugar previous week (5.2 percent)
Coffee (87.2 percent) vs Coffee previous week (92.7 percent)
Soybeans (32.2 percent) vs Soybeans previous week (8.2 percent)
Soybean Oil (3.0 percent) vs Soybean Oil previous week (0.0 percent)
Soybean Meal (57.7 percent) vs Soybean Meal previous week (40.6 percent)
Live Cattle (25.8 percent) vs Live Cattle previous week (26.2 percent)
Lean Hogs (61.2 percent) vs Lean Hogs previous week (72.3 percent)
Cotton (14.8 percent) vs Cotton previous week (23.2 percent)
Cocoa (37.1 percent) vs Cocoa previous week (37.7 percent)
Wheat (55.2 percent) vs Wheat previous week (50.5 percent)

Soybean Meal & Wheat top the 6-Week Strength Trends

COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Soybean Meal (43 percent) and Wheat (31 percent) lead the past six weeks trends for soft commodities. Soybeans (22 percent), Corn (19 percent) and Coffee (7 percent) are the next highest positive movers in the latest trends data.

Cotton (-61 percent) leads the downside trend scores currently with Soybean Oil (-26 percent), Sugar (-26 percent) and Live Cattle (-25 percent) following next with lower trend scores.

Strength Trend Statistics:
Corn (18.7 percent) vs Corn previous week (4.1 percent)
Sugar (-26.0 percent) vs Sugar previous week (-18.5 percent)
Coffee (6.7 percent) vs Coffee previous week (17.9 percent)
Soybeans (22.0 percent) vs Soybeans previous week (1.2 percent)
Soybean Oil (-26.1 percent) vs Soybean Oil previous week (-22.2 percent)
Soybean Meal (42.5 percent) vs Soybean Meal previous week (31.9 percent)
Live Cattle (-25.3 percent) vs Live Cattle previous week (-32.3 percent)
Lean Hogs (3.0 percent) vs Lean Hogs previous week (15.0 percent)
Cotton (-60.6 percent) vs Cotton previous week (-54.5 percent)
Cocoa (-10.0 percent) vs Cocoa previous week (-18.8 percent)
Wheat (30.5 percent) vs Wheat previous week (21.9 percent)

Individual Soft Commodities Markets:

CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week was a net position of -31,354 contracts in the data reported through Tuesday. This was a weekly lift of 112,070 contracts from the previous week which had a total of -143,424 net contracts.

This 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 29.9 percent. The commercials are Bullish with a score of 70.0 percent and the small traders (not shown in chart) are Bullish with a score of 74.0 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

CORN Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:21.442.79.6
– Percent of Open Interest Shorts:23.638.811.3
– Net Position:-31,35456,642-25,288
– Gross Longs:311,911621,487139,562
– Gross Shorts:343,265564,845164,850
– Long to Short Ratio:0.9 to 11.1 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):29.970.074.0
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:18.7-18.3-11.5

 

SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week was a net position of 28,561 contracts in the data reported through Tuesday. This was a weekly decline of -11,744 contracts from the previous week which had a total of 40,305 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-Extreme with a score of 0.9 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 12.0 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SUGAR Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:24.253.18.0
– Percent of Open Interest Shorts:20.856.18.4
– Net Position:28,561-25,176-3,385
– Gross Longs:200,063438,21265,992
– Gross Shorts:171,502463,38869,377
– Long to Short Ratio:1.2 to 10.9 to 11.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):0.9100.012.0
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-26.027.9-28.3

 

COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week was a net position of 62,877 contracts in the data reported through Tuesday. This was a weekly decline of -5,713 contracts from the previous week which had a total of 68,590 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 87.2 percent. The commercials are Bearish-Extreme with a score of 12.4 percent and the small traders (not shown in chart) are Bullish with a score of 61.5 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COFFEE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:37.435.24.1
– Percent of Open Interest Shorts:9.864.22.7
– Net Position:62,877-66,0393,162
– Gross Longs:85,05479,8969,211
– Gross Shorts:22,177145,9356,049
– Long to Short Ratio:3.8 to 10.5 to 11.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):87.212.461.5
– Strength Index Reading (3 Year Range):Bullish-ExtremeBearish-ExtremeBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:6.7-8.121.4

 

SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week was a net position of -60,048 contracts in the data reported through Tuesday. This was a weekly rise of 102,295 contracts from the previous week which had a total of -162,343 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 32.2 percent. The commercials are Bullish with a score of 69.1 percent and the small traders (not shown in chart) are Bullish with a score of 73.9 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEANS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:16.657.46.9
– Percent of Open Interest Shorts:24.747.48.8
– Net Position:-60,04874,323-14,275
– Gross Longs:123,324426,27751,042
– Gross Shorts:183,372351,95465,317
– Long to Short Ratio:0.7 to 11.2 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):32.269.173.9
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:22.0-21.4-4.0

 

SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week was a net position of -51,553 contracts in the data reported through Tuesday. This was a weekly gain of 4,889 contracts from the previous week which had a total of -56,442 net contracts.

This 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 3.0 percent. The commercials are Bullish-Extreme with a score of 97.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 18.7 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEAN OIL Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:20.753.35.5
– Percent of Open Interest Shorts:30.044.15.3
– Net Position:-51,55350,3511,202
– Gross Longs:113,697293,06630,181
– Gross Shorts:165,250242,71528,979
– Long to Short Ratio:0.7 to 11.2 to 11.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):3.097.318.7
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-26.124.4-7.6

 

SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week was a net position of 73,970 contracts in the data reported through Tuesday. This was a weekly advance of 41,851 contracts from the previous week which had a total of 32,119 net contracts.

This 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 39.9 percent and the small traders (not shown in chart) are Bullish with a score of 52.1 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEAN MEAL Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:30.640.110.2
– Percent of Open Interest Shorts:14.461.05.5
– Net Position:73,970-95,40521,435
– Gross Longs:139,373182,60546,648
– Gross Shorts:65,403278,01025,213
– Long to Short Ratio:2.1 to 10.7 to 11.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):57.739.952.1
– Strength Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:42.5-43.021.3

 

LIVE CATTLE Futures:

LIVE CATTLE Futures COT ChartThe LIVE CATTLE large speculator standing this week was a net position of 43,475 contracts in the data reported through Tuesday. This was a weekly decline of -328 contracts from the previous week which had a total of 43,803 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 25.8 percent. The commercials are Bullish with a score of 77.1 percent and the small traders (not shown in chart) are Bullish with a score of 57.0 percent.

Price Trend-Following Model: Weak Uptrend

Our weekly trend-following model classifies the current market price position as: Weak Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LIVE CATTLE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:35.536.19.6
– Percent of Open Interest Shorts:19.649.811.9
– Net Position:43,475-37,324-6,151
– Gross Longs:96,84498,46926,308
– Gross Shorts:53,369135,79332,459
– Long to Short Ratio:1.8 to 10.7 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):25.877.157.0
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-25.326.59.1

 

LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week was a net position of 38,356 contracts in the data reported through Tuesday. This was a weekly fall of -13,582 contracts from the previous week which had a total of 51,938 net contracts.

This 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 61.2 percent. The commercials are Bearish with a score of 40.0 percent and the small traders (not shown in chart) are Bullish with a score of 53.8 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LEAN HOGS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:34.535.57.6
– Percent of Open Interest Shorts:21.346.49.8
– Net Position:38,356-31,763-6,593
– Gross Longs:100,612103,75922,074
– Gross Shorts:62,256135,52228,667
– Long to Short Ratio:1.6 to 10.8 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):61.240.053.8
– Strength Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:3.0-2.6-3.6

 

COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week was a net position of 8,136 contracts in the data reported through Tuesday. This was a weekly fall of -11,086 contracts from the previous week which had a total of 19,222 net contracts.

This 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 85.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 15.0 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: New Sell – Short Position.

COTTON Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:31.244.25.9
– Percent of Open Interest Shorts:27.448.06.0
– Net Position:8,136-7,960-176
– Gross Longs:66,14193,74112,568
– Gross Shorts:58,005101,70112,744
– Long to Short Ratio:1.1 to 10.9 to 11.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):14.885.015.0
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-60.660.5-52.8

 

COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week was a net position of 26,562 contracts in the data reported through Tuesday. This was a weekly fall of -590 contracts from the previous week which had a total of 27,152 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 37.1 percent. The commercials are Bullish with a score of 59.5 percent and the small traders (not shown in chart) are Bullish with a score of 62.7 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COCOA Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:30.235.17.9
– Percent of Open Interest Shorts:12.257.13.9
– Net Position:26,562-32,4955,933
– Gross Longs:44,57951,82911,641
– Gross Shorts:18,01784,3245,708
– Long to Short Ratio:2.5 to 10.6 to 12.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):37.159.562.7
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-10.09.9-1.0

 

WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week was a net position of -17,785 contracts in the data reported through Tuesday. This was a weekly gain of 6,671 contracts from the previous week which had a total of -24,456 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 55.2 percent. The commercials are Bearish with a score of 46.8 percent and the small traders (not shown in chart) are Bearish with a score of 26.1 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

WHEAT Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:33.236.66.8
– Percent of Open Interest Shorts:38.029.39.3
– Net Position:-17,78527,005-9,220
– Gross Longs:122,686135,19325,281
– Gross Shorts:140,471108,18834,501
– Long to Short Ratio:0.9 to 11.2 to 10.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):55.246.826.1
– Strength Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:30.5-25.7-40.2

 

Article By InvestMacro – Receive our weekly COT Newsletter

*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 Updates Financial News Soft Commodities
07 May

FXTM’s Wheat: Touches fresh 2024 high!

By ForexTime

  • Wheat kisses new 2024 high
  • Watch out for WASDE report on Friday
  • Bulls back in control on D1 charts
  • Key levels at 638, 629 and 615

FXTM’s new Wheat commodity is in the spotlight after hitting a fresh 2024 high on Tuesday!

Prices hit the 638 level this morning as fundamentals powered bulls.

Note: Wheat is priced per bushel. One bushel is equivalent to 60 pounds.

The soft commodity could see more action this week ahead of the highly anticipated WASDE report.

Note: WASDE is the abbreviation for The World Agricultural Supply and Demand Estimates.

This report is published by the United States Department of Agriculture (USDA).

But before we take a deep dive into the world of Wheat, here are the basics:

What is Wheat?

Wheat is a widely cultivated grain that is consumed across the world.

It is the main ingredient for many foods, ranging from bread, biscuits, cereals, and cakes among many other foods.

What does FXTM’s Wheat track

FXTM’s Wheat tracks the Chicago Soft Red Winter (SRW) futures.

This is the most actively traded wheat contract in the US and the global standard wheat benchmark in the world.

Some fun facts:

  • One of the oldest crops in the world
  • 6 classes of wheat grown across the US
  • China is the largest wheat producer
  • Russia is the biggest wheat exporter
  • Gained over 8% month-to-date

The lowdown…

Wheat prices have been appreciating in recent weeks.

The soft commodity has gained over 13% since the start of April due to worries about dry weather in key exporting countries.

A lack of rain in Russia, the world’s largest wheat supplier has fuelled concerns over global production.

The bigger picture

The world’s Wheat stockpiles have contracted over the past four years.

Russia’s war in Ukraine along with other geopolitical developments and negative weather conditions in key exporting regions have hit global wheat stocks.

This has fuelled concerns over a tightening between the supply and demand of wheat.

Why this is an important week

All eyes will be on the USDA’s World Agriculture Supply and Demand Estimate report due on Friday.

This may offer investors fresh insight into the production and stocks of key grain for 2024.

Should the report show a decline in wheat production, this could push prices higher.

Technical outlook…

Bulls have made their presence known on the daily charts, with prices flirting around the 2024 high.

Still, prices may experience a technical throwback before the uptrend resumes.

Looking at the H1 charts, prices are under pressure with 629 acting as a resistance level.

  • Sustained weakness below this point may open a path towards 615, 50 SMA, and 595.
  • Should prices push back above 629, this could trigger a move back towards 638 and the next psychological level at 650.

Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Financial News Soft Commodities
04 May

COT Soft Commodities Charts: Speculator bets led by Wheat, Soybean Meal & Corn

By InvestMacro

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

The latest COT data is updated through Tuesday April 30th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led by Wheat, Soybean Meal & Corn

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

Leading the gains for the softs markets was Wheat (18,935 contracts) with Soybean Meal (17,676 contracts) and Corn (16,744 contracts) also having positive weeks.

The markets with the declines in speculator bets this week were Soybean Oil (-25,101 contracts), Cotton (-9,637 contracts), Soybeans (-7,773 contracts), Sugar (-4,796 contracts), Lean Hogs (-4,678 contracts), Live Cattle (-3,750 contracts), Coffee (-3,324 contracts) and with Cocoa (-2,432 contracts) also recording lower bets on the week.

Soft Commodities Net Speculators Leaderboard

Legend: Weekly Speculators Change | Speculators Current Net Position | Speculators Strength Score compared to last 3-Years (0-100 range)

Strength Scores led by Coffee & Lean Hogs

COT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that Coffee (93 percent) and Lean Hogs (72 percent) lead the softs markets this week. Wheat (51 percent) comes in as the next highest in the weekly strength scores.

On the downside, Soybean Oil (0 percent), Sugar (5 percent), Soybeans (8 percent) and the Corn (16 percent) come in at the lowest strength levels currently and are in Extreme-Bearish territory (below 20 percent).

Strength Statistics:
Corn (15.6 percent) vs Corn previous week (13.5 percent)
Sugar (5.2 percent) vs Sugar previous week (6.9 percent)
Coffee (92.7 percent) vs Coffee previous week (96.0 percent)
Soybeans (7.9 percent) vs Soybeans previous week (9.6 percent)
Soybean Oil (0.0 percent) vs Soybean Oil previous week (15.4 percent)
Soybean Meal (40.6 percent) vs Soybean Meal previous week (33.3 percent)
Live Cattle (26.2 percent) vs Live Cattle previous week (30.2 percent)
Lean Hogs (72.3 percent) vs Lean Hogs previous week (76.2 percent)
Cotton (23.2 percent) vs Cotton previous week (30.4 percent)
Cocoa (37.7 percent) vs Cocoa previous week (40.1 percent)
Wheat (50.5 percent) vs Wheat previous week (37.4 percent)

Soybean Meal & Wheat top the 6-Week Strength Trends

COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Soybean Meal (32 percent) and Wheat (22 percent) lead the past six weeks trends for soft commodities. Coffee (18 percent), Lean Hogs (15 percent) and Corn (4 percent) are the next highest positive movers in the latest trends data.

Cotton (-55 percent) leads the downside trend scores currently with Live Cattle (-32 percent) and Soybean Oil (-22 percent) following next with lower trend scores.

Strength Trend Statistics:
Corn (4.1 percent) vs Corn previous week (3.7 percent)
Sugar (-18.5 percent) vs Sugar previous week (-14.4 percent)
Coffee (17.9 percent) vs Coffee previous week (15.1 percent)
Soybeans (1.2 percent) vs Soybeans previous week (5.8 percent)
Soybean Oil (-22.2 percent) vs Soybean Oil previous week (0.7 percent)
Soybean Meal (31.9 percent) vs Soybean Meal previous week (29.3 percent)
Live Cattle (-32.3 percent) vs Live Cattle previous week (-27.3 percent)
Lean Hogs (15.0 percent) vs Lean Hogs previous week (20.2 percent)
Cotton (-54.5 percent) vs Cotton previous week (-51.7 percent)
Cocoa (-18.8 percent) vs Cocoa previous week (-16.5 percent)
Wheat (21.9 percent) vs Wheat previous week (7.2 percent)

Individual Soft Commodities Markets:

CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week recorded a net position of -143,424 contracts in the data reported through Tuesday. This was a weekly rise of 16,744 contracts from the previous week which had a total of -160,168 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 15.6 percent. The commercials are Bullish-Extreme with a score of 83.4 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 89.4 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

CORN Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:20.044.09.8
– Percent of Open Interest Shorts:30.132.910.7
– Net Position:-143,424157,105-13,681
– Gross Longs:284,015624,235138,688
– Gross Shorts:427,439467,130152,369
– Long to Short Ratio:0.7 to 11.3 to 10.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):15.683.489.4
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:4.1-3.5-7.6

 

SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week recorded a net position of 40,305 contracts in the data reported through Tuesday. This was a weekly reduction of -4,796 contracts from the previous week which had a total of 45,101 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 5.2 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 2.3 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SUGAR Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:23.955.27.6
– Percent of Open Interest Shorts:19.158.88.9
– Net Position:40,305-29,820-10,485
– Gross Longs:199,571460,09663,606
– Gross Shorts:159,266489,91674,091
– Long to Short Ratio:1.3 to 10.9 to 10.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):5.2100.02.3
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-18.520.8-21.8

 

COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week recorded a net position of 68,590 contracts in the data reported through Tuesday. This was a weekly decrease of -3,324 contracts from the previous week which had a total of 71,914 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 92.7 percent. The commercials are Bearish-Extreme with a score of 6.5 percent and the small traders (not shown in chart) are Bullish with a score of 62.3 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COFFEE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:39.534.83.5
– Percent of Open Interest Shorts:10.465.42.0
– Net Position:68,590-72,1563,566
– Gross Longs:93,00681,9418,361
– Gross Shorts:24,416154,0974,795
– Long to Short Ratio:3.8 to 10.5 to 11.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):92.76.562.3
– Strength Index Reading (3 Year Range):Bullish-ExtremeBearish-ExtremeBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:17.9-20.029.9

 

SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week recorded a net position of -162,343 contracts in the data reported through Tuesday. This was a weekly fall of -7,773 contracts from the previous week which had a total of -154,570 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 7.9 percent. The commercials are Bullish-Extreme with a score of 91.4 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 93.6 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEANS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:12.761.97.2
– Percent of Open Interest Shorts:35.238.68.1
– Net Position:-162,343168,676-6,333
– Gross Longs:92,100447,80552,018
– Gross Shorts:254,443279,12958,351
– Long to Short Ratio:0.4 to 11.6 to 10.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):7.991.493.6
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:1.2-2.717.4

 

SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week recorded a net position of -56,442 contracts in the data reported through Tuesday. This was a weekly decline of -25,101 contracts from the previous week which had a total of -31,341 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 0.0 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 18.3 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEAN OIL Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:19.952.75.7
– Percent of Open Interest Shorts:30.142.75.5
– Net Position:-56,44255,3561,086
– Gross Longs:109,597290,37131,192
– Gross Shorts:166,039235,01530,106
– Long to Short Ratio:0.7 to 11.2 to 11.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):0.0100.018.3
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-22.221.3-10.6

 

SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week recorded a net position of 32,119 contracts in the data reported through Tuesday. This was a weekly lift of 17,676 contracts from the previous week which had a total of 14,443 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 40.6 percent. The commercials are Bullish with a score of 58.3 percent and the small traders (not shown in chart) are Bearish with a score of 32.1 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEAN MEAL Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:29.643.49.7
– Percent of Open Interest Shorts:22.354.55.9
– Net Position:32,119-49,10816,989
– Gross Longs:130,740191,67343,016
– Gross Shorts:98,621240,78126,027
– Long to Short Ratio:1.3 to 10.8 to 11.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):40.658.332.1
– Strength Index Reading (3 Year Range):BearishBullishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:31.9-31.57.5

 

LIVE CATTLE Futures:

LIVE CATTLE Futures COT ChartThe LIVE CATTLE large speculator standing this week recorded a net position of 43,803 contracts in the data reported through Tuesday. This was a weekly decrease of -3,750 contracts from the previous week which had a total of 47,553 net contracts.

This 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 26.2 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 59.3 percent.

Price Trend-Following Model: Weak Uptrend

Our weekly trend-following model classifies the current market price position as: Weak Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LIVE CATTLE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:36.135.49.5
– Percent of Open Interest Shorts:20.249.211.6
– Net Position:43,803-38,088-5,715
– Gross Longs:99,66597,72926,257
– Gross Shorts:55,862135,81731,972
– Long to Short Ratio:1.8 to 10.7 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):26.276.259.3
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-32.333.812.2

 

LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week recorded a net position of 51,938 contracts in the data reported through Tuesday. This was a weekly fall of -4,678 contracts from the previous week which had a total of 56,616 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 72.3 percent. The commercials are Bearish with a score of 29.6 percent and the small traders (not shown in chart) are Bearish with a score of 44.4 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LEAN HOGS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:38.934.17.5
– Percent of Open Interest Shorts:21.648.610.4
– Net Position:51,938-43,257-8,681
– Gross Longs:116,668102,25922,574
– Gross Shorts:64,730145,51631,255
– Long to Short Ratio:1.8 to 10.7 to 10.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):72.329.644.4
– Strength Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:15.0-12.8-18.7

 

COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week recorded a net position of 19,222 contracts in the data reported through Tuesday. This was a weekly lowering of -9,637 contracts from the previous week which had a total of 28,859 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 23.2 percent. The commercials are Bullish with a score of 77.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 13.7 percent.

Price Trend-Following Model: Weak Uptrend

Our weekly trend-following model classifies the current market price position as: Weak Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COTTON Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:34.743.66.3
– Percent of Open Interest Shorts:25.352.86.5
– Net Position:19,222-18,831-391
– Gross Longs:71,06589,33612,824
– Gross Shorts:51,843108,16713,215
– Long to Short Ratio:1.4 to 10.8 to 11.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):23.277.613.7
– Strength Index Reading (3 Year Range):BearishBullishBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-54.555.4-56.9

 

COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week recorded a net position of 27,152 contracts in the data reported through Tuesday. This was a weekly lowering of -2,432 contracts from the previous week which had a total of 29,584 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 37.7 percent. The commercials are Bullish with a score of 59.8 percent and the small traders (not shown in chart) are Bullish with a score of 54.5 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COCOA Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:30.933.67.4
– Percent of Open Interest Shorts:13.054.84.1
– Net Position:27,152-32,1224,970
– Gross Longs:46,93151,14611,182
– Gross Shorts:19,77983,2686,212
– Long to Short Ratio:2.4 to 10.6 to 11.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):37.759.854.5
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-18.819.3-6.2

 

WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week recorded a net position of -24,456 contracts in the data reported through Tuesday. This was a weekly gain of 18,935 contracts from the previous week which had a total of -43,391 net contracts.

This 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 50.5 percent. The commercials are Bullish with a score of 51.0 percent and the small traders (not shown in chart) are Bearish with a score of 30.9 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

WHEAT Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:33.336.67.3
– Percent of Open Interest Shorts:40.127.69.6
– Net Position:-24,45632,562-8,106
– Gross Longs:120,889132,76426,535
– Gross Shorts:145,345100,20234,641
– Long to Short Ratio:0.8 to 11.3 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):50.551.030.9
– Strength Index Reading (3 Year Range):BullishBullishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:21.9-18.8-27.2

 

Article By InvestMacro – Receive our weekly COT Newsletter

*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 Updates Financial News Soft Commodities
28 Apr

COT Soft Commodities Charts: Speculator Bets led by Corn & Soybean Meal

By InvestMacro

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

The latest COT data is updated through Tuesday April 23th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led by Corn & Soybean Meal

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

Leading the gains for the softs markets was Corn (44,689 contracts) with Soybean Meal (27,275 contracts), Wheat (19,506 contracts), Soybeans (17,323 contracts), Live Cattle (4,542 contracts), Soybean Oil (3,205 contracts), also showing positive weeks.

The markets with the declines in speculator bets this week were Cotton (-23,470 contracts), Sugar (-17,463 contracts), Coffee (-4,157 contracts), Cocoa (-4,251 contracts) and Lean Hogs (125 contracts) also registering lower bets on the week.

Softs Net Speculators Leaderboard

Legend: Weekly Speculators Change | Speculators Current Net Position | Speculators Strength Score compared to last 3-Years (0-100 range)

Strength Scores led by Coffee & Lean Hogs

COT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that Coffee (96 percent) and Lean Hogs (76 percent) lead the softs markets this week.

On the downside, Sugar (7 percent), Soybeans (10 percent), Soybean Oil (11 percent) and the Corn (13 percent) come in at the lowest strength levels currently and are in Extreme-Bearish territory (below 20 percent).

Strength Statistics:
Corn (13.2 percent) vs Corn previous week (7.6 percent)
Sugar (6.9 percent) vs Sugar previous week (13.2 percent)
Coffee (96.0 percent) vs Coffee previous week (100.0 percent)
Soybeans (9.6 percent) vs Soybeans previous week (5.7 percent)
Soybean Oil (11.2 percent) vs Soybean Oil previous week (9.2 percent)
Soybean Meal (33.3 percent) vs Soybean Meal previous week (22.1 percent)
Live Cattle (30.2 percent) vs Live Cattle previous week (25.3 percent)
Lean Hogs (76.2 percent) vs Lean Hogs previous week (76.1 percent)
Cotton (30.4 percent) vs Cotton previous week (48.1 percent)
Cocoa (40.1 percent) vs Cocoa previous week (44.5 percent)
Wheat (37.4 percent) vs Wheat previous week (23.8 percent)

Soybean Meal & Lean Hogs top the 6-Week Strength Trends

COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Soybean Meal (29 percent) and Lean Hogs (20 percent) lead the past six weeks trends for soft commodities. Coffee (15 percent), Wheat (7 percent) and Soybeans (6 percent) are the next highest positive movers in the latest trends data.

Cotton (-52 percent) leads the downside trend scores currently with Live Cattle (-27 percent), Cocoa (-17 percent) and Sugar (-14 percent) following next with lower trend scores.

Strength Trend Statistics:
Corn (3.6 percent) vs Corn previous week (3.2 percent)
Sugar (-14.4 percent) vs Sugar previous week (-7.0 percent)
Coffee (15.1 percent) vs Coffee previous week (22.0 percent)
Soybeans (5.8 percent) vs Soybeans previous week (5.7 percent)
Soybean Oil (0.8 percent) vs Soybean Oil previous week (9.2 percent)
Soybean Meal (29.3 percent) vs Soybean Meal previous week (19.1 percent)
Live Cattle (-27.3 percent) vs Live Cattle previous week (-27.9 percent)
Lean Hogs (20.2 percent) vs Lean Hogs previous week (18.6 percent)
Cotton (-51.7 percent) vs Cotton previous week (-36.7 percent)
Cocoa (-16.5 percent) vs Cocoa previous week (-9.7 percent)
Wheat (7.2 percent) vs Wheat previous week (-12.6 percent)

Individual Soft Commodities Markets:

CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week equaled a net position of -160,168 contracts in the data reported through Tuesday. This was a weekly rise of 44,689 contracts from the previous week which had a total of -204,857 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 13.2 percent. The commercials are Bullish-Extreme with a score of 85.8 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 91.3 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

CORN Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:19.144.79.9
– Percent of Open Interest Shorts:29.733.310.7
– Net Position:-160,168172,388-12,220
– Gross Longs:288,529676,526149,210
– Gross Shorts:448,697504,138161,430
– Long to Short Ratio:0.6 to 11.3 to 10.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):13.285.891.3
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:3.6-3.4-2.9

 

SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week equaled a net position of 45,101 contracts in the data reported through Tuesday. This was a weekly decrease of -17,463 contracts from the previous week which had a total of 62,564 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 6.9 percent. The commercials are Bullish-Extreme with a score of 97.4 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 8.1 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SUGAR Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:23.954.68.0
– Percent of Open Interest Shorts:18.459.48.7
– Net Position:45,101-39,150-5,951
– Gross Longs:197,297451,98066,162
– Gross Shorts:152,196491,13072,113
– Long to Short Ratio:1.3 to 10.9 to 10.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):6.997.48.1
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-14.415.4-13.4

 

COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week equaled a net position of 71,914 contracts in the data reported through Tuesday. This was a weekly decline of -4,157 contracts from the previous week which had a total of 76,071 net contracts.

This 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 96.0 percent. The commercials are Bearish-Extreme with a score of 3.5 percent and the small traders (not shown in chart) are Bullish with a score of 58.7 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COFFEE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:39.534.93.5
– Percent of Open Interest Shorts:9.266.62.1
– Net Position:71,914-75,2153,301
– Gross Longs:93,73682,8768,334
– Gross Shorts:21,822158,0915,033
– Long to Short Ratio:4.3 to 10.5 to 11.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):96.03.558.7
– Strength Index Reading (3 Year Range):Bullish-ExtremeBearish-ExtremeBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:15.1-16.419.9

 

SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week equaled a net position of -154,570 contracts in the data reported through Tuesday. This was a weekly advance of 17,323 contracts from the previous week which had a total of -171,893 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 9.6 percent. The commercials are Bullish-Extreme with a score of 89.3 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 97.6 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEANS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:11.858.96.8
– Percent of Open Interest Shorts:30.839.37.4
– Net Position:-154,570159,322-4,752
– Gross Longs:96,430479,37355,609
– Gross Shorts:251,000320,05160,361
– Long to Short Ratio:0.4 to 11.5 to 10.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):9.689.397.6
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:5.8-7.115.7

 

SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week equaled a net position of -31,341 contracts in the data reported through Tuesday. This was a weekly advance of 3,205 contracts from the previous week which had a total of -34,546 net contracts.

This 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 11.2 percent. The commercials are Bullish-Extreme with a score of 89.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 15.4 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEAN OIL Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:20.351.35.0
– Percent of Open Interest Shorts:25.845.94.9
– Net Position:-31,34131,005336
– Gross Longs:115,457291,90528,361
– Gross Shorts:146,798260,90028,025
– Long to Short Ratio:0.8 to 11.1 to 11.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):11.289.715.4
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:0.80.3-6.5

 

SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week equaled a net position of 14,443 contracts in the data reported through Tuesday. This was a weekly increase of 27,275 contracts from the previous week which had a total of -12,832 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 33.3 percent. The commercials are Bullish with a score of 65.2 percent and the small traders (not shown in chart) are Bearish with a score of 32.7 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEAN MEAL Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:25.544.79.7
– Percent of Open Interest Shorts:22.451.46.1
– Net Position:14,443-31,56017,117
– Gross Longs:120,442211,55645,894
– Gross Shorts:105,999243,11628,777
– Long to Short Ratio:1.1 to 10.9 to 11.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):33.365.232.7
– Strength Index Reading (3 Year Range):BearishBullishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:29.3-28.63.6

 

LIVE CATTLE Futures:

LIVE CATTLE Futures COT ChartThe LIVE CATTLE large speculator standing this week equaled a net position of 47,553 contracts in the data reported through Tuesday. This was a weekly rise of 4,542 contracts from the previous week which had a total of 43,011 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 30.2 percent. The commercials are Bullish with a score of 74.0 percent and the small traders (not shown in chart) are Bearish with a score of 48.7 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LIVE CATTLE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:36.535.49.4
– Percent of Open Interest Shorts:19.150.012.2
– Net Position:47,553-39,851-7,702
– Gross Longs:99,62196,67625,617
– Gross Shorts:52,068136,52733,319
– Long to Short Ratio:1.9 to 10.7 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):30.274.048.7
– Strength Index Reading (3 Year Range):BearishBullishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-27.332.7-7.9

 

LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week equaled a net position of 56,616 contracts in the data reported through Tuesday. This was a weekly boost of 125 contracts from the previous week which had a total of 56,491 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 Bullish with a score of 76.2 percent. The commercials are Bearish with a score of 26.0 percent and the small traders (not shown in chart) are Bearish with a score of 41.6 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LEAN HOGS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:40.832.97.5
– Percent of Open Interest Shorts:21.948.610.6
– Net Position:56,616-47,302-9,314
– Gross Longs:122,47498,81222,604
– Gross Shorts:65,858146,11431,918
– Long to Short Ratio:1.9 to 10.7 to 10.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):76.226.041.6
– Strength Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:20.2-17.9-21.9

 

COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week equaled a net position of 28,859 contracts in the data reported through Tuesday. This was a weekly fall of -23,470 contracts from the previous week which had a total of 52,329 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 30.4 percent. The commercials are Bullish with a score of 69.3 percent and the small traders (not shown in chart) are Bearish with a score of 29.5 percent.

Price Trend-Following Model: Weak Uptrend

Our weekly trend-following model classifies the current market price position as: Weak Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COTTON Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:36.641.56.5
– Percent of Open Interest Shorts:22.556.85.4
– Net Position:28,859-31,0882,229
– Gross Longs:74,76584,77413,337
– Gross Shorts:45,906115,86211,108
– Long to Short Ratio:1.6 to 10.7 to 11.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):30.469.329.5
– Strength Index Reading (3 Year Range):BearishBullishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-51.751.4-43.3

 

COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week equaled a net position of 29,584 contracts in the data reported through Tuesday. This was a weekly fall of -4,251 contracts from the previous week which had a total of 33,835 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 40.1 percent. The commercials are Bullish with a score of 56.5 percent and the small traders (not shown in chart) are Bullish with a score of 61.8 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COCOA Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:33.832.88.1
– Percent of Open Interest Shorts:14.555.94.3
– Net Position:29,584-35,4035,819
– Gross Longs:51,68550,13712,440
– Gross Shorts:22,10185,5406,621
– Long to Short Ratio:2.3 to 10.6 to 11.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):40.156.561.8
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-16.515.74.9

 

WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week equaled a net position of -43,391 contracts in the data reported through Tuesday. This was a weekly advance of 19,506 contracts from the previous week which had a total of -62,897 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 37.4 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 58.1 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

WHEAT Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:32.936.18.1
– Percent of Open Interest Shorts:44.524.08.6
– Net Position:-43,39145,239-1,848
– Gross Longs:123,697135,43930,321
– Gross Shorts:167,08890,20032,169
– Long to Short Ratio:0.7 to 11.5 to 10.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):37.460.458.1
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:7.2-7.80.7

 

Article By InvestMacro – Receive our weekly COT Newsletter

*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 Updates Financial News Soft Commodities
23 Apr
coffee_beans

Robusta Coffee: hovers near record highs!

By ForexTime 

  • FXTM launches 10 new commodities
  • Robusta Coffee near all-time high
  • 2nd biggest gainer YTD in FXTM’s commodity universe
  • Prices ↑ over 35% since start of 2024
  • Key levels of interest at $4040, $4130 and $4280

FXTM’s new Robusta Coffee commodity is flirting near all-time highs!

Prices rallied to fresh records last week as fundamentals fuelled concerns over tight global supplies.

Note: Prices are trading roughly 4% away from all-time highs.

Before we take a deep dive into the world of Robusta coffee, here are the basics:

What is Robusta Coffee?

Robusta coffee bean is often used for expresso-based drinks and accounts for roughly 40% of the world’s coffee production.

What does FXTM’s Robusta Coffee track?

FXTM’s Robusta Coffee tracks the ICE US Robusta Coffee futures, the world benchmark for producers of Robusta coffee.

Coffee of this variety is grown mainly in Vietnam, Brazil, Indonesia, Uganda and India.

The lowdown…

Robusta coffee prices have been on a tear!

The commodity has gained over 35% since the start of 2024 thanks to fundamental forces.

Negative factors in the form of severe weather, aging trees and freight disruptions continue to fuel fears about a global shortage of this coffee variety.

This in turn has sparked panic buying by roasters, further fuelling Robusta’s upside gains.

The bigger picture

Vietnam is the world’s largest producer of Robusta, accounting for roughly 35% of global output.

Heatwaves and ageing trees are expected to hit crop yields, with concerns rising over possible water shortages for irrigation hurting output of the next season.

Brazil, the world’s second-largest producer of Robusta is also facing its trials. Adverse weather conditions are also threatening output, for the country that produces around 28% of global output.

Essentially, there are concerns over the amount of Robusta left in Brazil as the 2024 harvest approaches.

What does this mean?

A combination of negative factors continues to impact output from the world’s two largest producers of Robusta coffee.

This development could mean more gains for the commodity which is trading near all-time highs.

And…the technicals

Prices seem to be in a range on the H1 charts with support around $4130 and resistance at $4280.

Although the path of least resistance points north, a move lower could be on the cards before bulls jump back into the scene.

Potential support levels can be found at $4130, $4040 and $3980.

Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Opinions Soft Commodities
20 Apr

COT Soft Commodities Charts: Speculator bets led by Soybean Meal & Lean Hogs

By InvestMacro

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

The latest COT data is updated through Tuesday April 16th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led by Soybean Meal & Lean Hogs

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

Leading the gains for the softs markets was Soybean Meal (9,230 contracts) with Lean Hogs (4,276 contracts) and Coffee (2,508 contracts) also seeing positive weeks.

The markets with the declines in speculator bets this week were Sugar (-43,130 contracts), Soybean Oil (-23,914 contracts), Cotton (-20,347 contracts), Corn (-14,666 contracts), Soybeans (-13,416 contracts), Wheat (-10,500 contracts), Live Cattle (-5,960 contracts) and with Cocoa (-1,073 contracts) also registering lower bets on the week.

Soft Commodities Net Speculators Leaderboard

Legend: Weekly Speculators Change | Speculators Current Net Position | Speculators Strength Score compared to last 3-Years (0-100 range)

Strength Scores led by Coffee & Lean Hogs

COT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that Coffee (100 percent) and Lean Hogs (76 percent) lead the softs markets this week.

On the downside, Soybeans (6 percent), Corn (8 percent), Soybean Oil (9 percent) and Sugar (13 percent) come in at the lowest strength levels currently and are all in Extreme-Bearish territory (below 20 percent).

Strength Statistics:
Corn (7.6 percent) vs Corn previous week (9.5 percent)
Sugar (13.2 percent) vs Sugar previous week (28.8 percent)
Coffee (100.0 percent) vs Coffee previous week (97.6 percent)
Soybeans (5.7 percent) vs Soybeans previous week (8.7 percent)
Soybean Oil (9.2 percent) vs Soybean Oil previous week (24.5 percent)
Soybean Meal (22.1 percent) vs Soybean Meal previous week (18.4 percent)
Live Cattle (25.3 percent) vs Live Cattle previous week (31.7 percent)
Lean Hogs (76.1 percent) vs Lean Hogs previous week (72.6 percent)
Cotton (48.1 percent) vs Cotton previous week (63.4 percent)
Cocoa (44.5 percent) vs Cocoa previous week (45.6 percent)
Wheat (23.8 percent) vs Wheat previous week (31.1 percent)

Coffee & Soybean Meal top the 6-Week Strength Trends

COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Coffee (22 percent) and Soybean Meal (19 percent) lead the past six weeks trends for soft commodities. Lean Hogs (19 percent), Soybean Oil (9 percent) and Soybeans (6 percent) are the next highest positive movers in the latest trends data.

Cotton (-37 percent) leads the downside trend scores currently with Live Cattle (-28 percent), Wheat (-13 percent) and Cocoa (-10 percent) following next with lower trend scores.

Strength Trend Statistics:
Corn (3.2 percent) vs Corn previous week (5.3 percent)
Sugar (-7.0 percent) vs Sugar previous week (0.9 percent)
Coffee (22.0 percent) vs Coffee previous week (21.3 percent)
Soybeans (5.7 percent) vs Soybeans previous week (7.3 percent)
Soybean Oil (9.2 percent) vs Soybean Oil previous week (18.2 percent)
Soybean Meal (19.1 percent) vs Soybean Meal previous week (18.4 percent)
Live Cattle (-27.9 percent) vs Live Cattle previous week (-18.4 percent)
Lean Hogs (18.6 percent) vs Lean Hogs previous week (18.8 percent)
Cotton (-36.7 percent) vs Cotton previous week (-22.3 percent)
Cocoa (-9.7 percent) vs Cocoa previous week (-6.4 percent)
Wheat (-12.6 percent) vs Wheat previous week (-10.7 percent)

Individual Soft Commodities Markets:

CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week came in at a net position of -204,857 contracts in the data reported through Tuesday. This was a weekly fall of -14,666 contracts from the previous week which had a total of -190,191 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 7.6 percent. The commercials are Bullish-Extreme with a score of 91.2 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 95.2 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

CORN Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:18.345.310.3
– Percent of Open Interest Shorts:31.831.210.9
– Net Position:-204,857214,170-9,313
– Gross Longs:278,571688,963157,042
– Gross Shorts:483,428474,793166,355
– Long to Short Ratio:0.6 to 11.5 to 10.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):7.691.295.2
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:3.2-3.3-1.0

 

SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week came in at a net position of 62,564 contracts in the data reported through Tuesday. This was a weekly decrease of -43,130 contracts from the previous week which had a total of 105,694 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 13.2 percent. The commercials are Bullish-Extreme with a score of 94.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 0.0 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SUGAR Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:22.955.38.7
– Percent of Open Interest Shorts:15.261.510.2
– Net Position:62,564-50,279-12,285
– Gross Longs:186,059448,73270,228
– Gross Shorts:123,495499,01182,513
– Long to Short Ratio:1.5 to 10.9 to 10.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):13.294.00.0
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-7.09.3-14.2

 

COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week came in at a net position of 76,071 contracts in the data reported through Tuesday. This was a weekly gain of 2,508 contracts from the previous week which had a total of 73,563 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 100.0 percent. The commercials are Bearish-Extreme with a score of 0.0 percent and the small traders (not shown in chart) are Bullish with a score of 51.5 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COFFEE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:40.535.63.7
– Percent of Open Interest Shorts:9.168.12.5
– Net Position:76,071-78,8352,764
– Gross Longs:98,29286,5828,934
– Gross Shorts:22,221165,4176,170
– Long to Short Ratio:4.4 to 10.5 to 11.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):100.00.051.5
– Strength Index Reading (3 Year Range):Bullish-ExtremeBearish-ExtremeBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:22.0-22.811.9

 

SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week came in at a net position of -171,893 contracts in the data reported through Tuesday. This was a weekly fall of -13,416 contracts from the previous week which had a total of -158,477 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 5.7 percent. The commercials are Bullish-Extreme with a score of 94.0 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 86.2 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEANS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:10.958.06.6
– Percent of Open Interest Shorts:30.737.37.5
– Net Position:-171,893179,718-7,825
– Gross Longs:94,418503,03256,980
– Gross Shorts:266,311323,31464,805
– Long to Short Ratio:0.4 to 11.6 to 10.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):5.794.086.2
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:5.7-6.05.4

 

SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week came in at a net position of -34,546 contracts in the data reported through Tuesday. This was a weekly lowering of -23,914 contracts from the previous week which had a total of -10,632 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 9.2 percent. The commercials are Bullish-Extreme with a score of 91.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 18.8 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEAN OIL Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:19.450.24.9
– Percent of Open Interest Shorts:25.244.74.7
– Net Position:-34,54633,3271,219
– Gross Longs:116,442300,90329,257
– Gross Shorts:150,988267,57628,038
– Long to Short Ratio:0.8 to 11.1 to 11.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):9.291.018.8
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:9.2-9.06.5

 

SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week came in at a net position of -12,832 contracts in the data reported through Tuesday. This was a weekly rise of 9,230 contracts from the previous week which had a total of -22,062 net contracts.

This 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 22.1 percent. The commercials are Bullish with a score of 76.8 percent and the small traders (not shown in chart) are Bearish with a score of 23.9 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEAN MEAL Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:21.847.810.0
– Percent of Open Interest Shorts:24.648.36.8
– Net Position:-12,832-2,35215,184
– Gross Longs:102,248223,84346,819
– Gross Shorts:115,080226,19531,635
– Long to Short Ratio:0.9 to 11.0 to 11.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):22.176.823.9
– Strength Index Reading (3 Year Range):BearishBullishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:19.1-19.17.0

 

LIVE CATTLE Futures:

LIVE CATTLE Futures COT ChartThe LIVE CATTLE large speculator standing this week came in at a net position of 43,011 contracts in the data reported through Tuesday. This was a weekly fall of -5,960 contracts from the previous week which had a total of 48,971 net contracts.

This 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 25.3 percent. The commercials are Bullish with a score of 78.7 percent and the small traders (not shown in chart) are Bullish with a score of 52.2 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LIVE CATTLE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:35.037.49.9
– Percent of Open Interest Shorts:19.250.612.4
– Net Position:43,011-35,975-7,036
– Gross Longs:95,527102,06226,945
– Gross Shorts:52,516138,03733,981
– Long to Short Ratio:1.8 to 10.7 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):25.378.752.2
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-27.934.3-11.8

 

LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week came in at a net position of 56,491 contracts in the data reported through Tuesday. This was a weekly boost of 4,276 contracts from the previous week which had a total of 52,215 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 76.1 percent. The commercials are Bearish with a score of 24.2 percent and the small traders (not shown in chart) are Bullish with a score of 50.9 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LEAN HOGS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:40.332.78.2
– Percent of Open Interest Shorts:21.449.210.6
– Net Position:56,491-49,252-7,239
– Gross Longs:120,48597,81824,451
– Gross Shorts:63,994147,07031,690
– Long to Short Ratio:1.9 to 10.7 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):76.124.250.9
– Strength Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:18.6-18.7-9.2

 

COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week came in at a net position of 52,329 contracts in the data reported through Tuesday. This was a weekly reduction of -20,347 contracts from the previous week which had a total of 72,676 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 48.1 percent. The commercials are Bullish with a score of 52.4 percent and the small traders (not shown in chart) are Bearish with a score of 37.9 percent.

Price Trend-Following Model: Weak Uptrend

Our weekly trend-following model classifies the current market price position as: Weak Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COTTON Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:40.838.07.1
– Percent of Open Interest Shorts:15.165.45.4
– Net Position:52,329-55,9433,614
– Gross Longs:83,15177,26914,522
– Gross Shorts:30,822133,21210,908
– Long to Short Ratio:2.7 to 10.6 to 11.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):48.152.437.9
– Strength Index Reading (3 Year Range):BearishBullishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-36.736.6-31.7

 

COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week came in at a net position of 33,835 contracts in the data reported through Tuesday. This was a weekly decline of -1,073 contracts from the previous week which had a total of 34,908 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 Bearish with a score of 44.5 percent. The commercials are Bullish with a score of 51.4 percent and the small traders (not shown in chart) are Bullish with a score of 68.9 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COCOA Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:34.733.78.3
– Percent of Open Interest Shorts:13.559.14.1
– Net Position:33,835-40,4946,659
– Gross Longs:55,31053,72513,258
– Gross Shorts:21,47594,2196,599
– Long to Short Ratio:2.6 to 10.6 to 12.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):44.551.468.9
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-9.77.814.8

 

WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week came in at a net position of -62,897 contracts in the data reported through Tuesday. This was a weekly decrease of -10,500 contracts from the previous week which had a total of -52,397 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 23.8 percent. The commercials are Bullish with a score of 72.5 percent and the small traders (not shown in chart) are Bullish with a score of 71.8 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

WHEAT Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:30.436.08.1
– Percent of Open Interest Shorts:46.420.37.8
– Net Position:-62,89761,5861,311
– Gross Longs:118,774141,02731,794
– Gross Shorts:181,67179,44130,483
– Long to Short Ratio:0.7 to 11.8 to 11.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):23.872.571.8
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-12.610.716.0

 

Article By InvestMacro – Receive our weekly COT Newsletter

*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 Updates Financial News Soft Commodities
16 Apr

New FXTM commodity hits all-time high!

By ForexTime 

  • FXTM launches 10 new commodities
  • Cocoa hits fresh record high
  • Biggest gainer YTD in FXTM’s commodity universe
  • Prices up over 150% since the start of 2024
  • Firmly bullish on H4/H1 timeframe

This week, FXTM launched 10 new commodities!

This now brings FXTM’s tally to 13 different commodities to trade from.

And Cocoa has certainly hijacked our attention, jumping to a fresh all-time high on Monday.

The commodity posted its highest-ever intraday price at $11345.56 (Monday, 15th April)!

Note: Cocoa is priced per metric ton (MT)

Before we take a deep dive into why Cocoa prices are skyrocketing, let’s cover some basics:

What is Cocoa?

Cocoa is refined from the seeds of a cacao tree, which is a key ingredient in chocolate production.

What does FXTM’s Cocoa track?

FXTM’s Cocoa tracks the ICE US Cocoa futures which is the world benchmark for the global cocoa market.

The lowdown…

Cocoa prices have seen extraordinary gains in recent months!

The commodity is up over 150% year-to-date as the industry faces a perfect storm.

A combination of bad weather, crop disease, and rising freight costs have led to sudden and aggressive increases in the price of Cocoa.

The bigger picture

Did you know the world’s two biggest producers of cocoa beans are based in West Africa?

The Ivory Coast and Ghana are the big boys when it comes to production, accounting for more than 50% of the world’s cocoa.

A weather phenomenon known as El Nino has been causing drier weather for these countries, negatively impacting harvest yields as a result.

It does not end here

Meanwhile, the world’s appetite for chocolate remains robust!

According to the International Cocoa Organization’s latest forecast for the 2023/2024 cocoa year, demand is set to outstrip supply by more than 300,000 tonnes.

What does this mean?

This could mean more gains for cocoa if demand continues to exceed supply which is anticipated to decline by almost 11% this year.

How about the technicals?

Prices are firmly bullish on the daily charts with the path of least resistance pointing north.

However, a technical throwback could be in the works before bulls jump back into the scene.

Key support levels can be found at $10717, 10485 and the psychological $10000.

Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Financial News Soft Commodities
13 Apr

COT Soft Commodities Charts: Speculator Bets led by Soybean Meal & Lean Hogs

By InvestMacro

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

The latest COT data is updated through Tuesday April 9th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led by Soybean Meal & Lean Hogs

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

Leading the gains for the softs markets was Soybean Meal (16,375 contracts) with Lean Hogs (9,080 contracts), Wheat (7,860 contracts), Coffee (6,081 contracts) and Cocoa (1,237 contracts) also seeing positive weeks.

The markets with the declines in speculator bets this week were Cotton (-16,089 contracts), Sugar (-11,767 contracts), Live Cattle (-11,085 contracts), Corn (-8,855 contracts), Soybean Oil (-6,775 contracts) and Soybeans (-437 contracts) also registering lower bets on the week.

Soft Commodities Net Speculators Leaderboard

Legend: Weekly Speculators Change | Speculators Current Net Position | Speculators Strength Score compared to last 3-Years (0-100 range)

Strength Scores led by Coffee & Lean Hogs

COT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that Coffee (100 percent) and Lean Hogs (73 percent) lead the softs markets this week. Cotton (63 percent) comes in as the next highest in the weekly strength scores.

On the downside, Corn (9 percent), Soybeans (9 percent) and Soybean Meal (18 percent) come in at the lowest strength levels currently and are in Extreme-Bearish territory (below 20 percent).

Strength Statistics:
Corn (9.5 percent) vs Corn previous week (10.6 percent)
Sugar (28.8 percent) vs Sugar previous week (33.1 percent)
Coffee (100.0 percent) vs Coffee previous week (93.9 percent)
Soybeans (8.7 percent) vs Soybeans previous week (8.8 percent)
Soybean Oil (24.5 percent) vs Soybean Oil previous week (28.9 percent)
Soybean Meal (18.4 percent) vs Soybean Meal previous week (11.6 percent)
Live Cattle (31.7 percent) vs Live Cattle previous week (43.7 percent)
Lean Hogs (72.6 percent) vs Lean Hogs previous week (65.1 percent)
Cotton (63.4 percent) vs Cotton previous week (75.5 percent)
Cocoa (45.6 percent) vs Cocoa previous week (44.3 percent)
Wheat (31.1 percent) vs Wheat previous week (25.7 percent)

Coffee & Lean Hogs top the 6-Week Strength Trends

COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Coffee (22 percent) and Lean Hogs (19 percent) lead the past six weeks trends for soft commodities. Soybean Meal (18 percent), Soybean Oil (18 percent) and Soybeans (7 percent) are the next highest positive movers in the latest trends data.

Cotton (-22 percent) leads the downside trend scores currently with Live Cattle (-18 percent), Wheat (-11 percent) and Cocoa (-6 percent) following next with lower trend scores.

Strength Trend Statistics:
Corn (5.3 percent) vs Corn previous week (10.6 percent)
Sugar (0.9 percent) vs Sugar previous week (9.3 percent)
Coffee (21.8 percent) vs Coffee previous week (11.6 percent)
Soybeans (7.3 percent) vs Soybeans previous week (0.5 percent)
Soybean Oil (18.2 percent) vs Soybean Oil previous week (19.3 percent)
Soybean Meal (18.4 percent) vs Soybean Meal previous week (2.9 percent)
Live Cattle (-18.4 percent) vs Live Cattle previous week (-2.0 percent)
Lean Hogs (18.8 percent) vs Lean Hogs previous week (21.9 percent)
Cotton (-22.3 percent) vs Cotton previous week (-4.8 percent)
Cocoa (-6.4 percent) vs Cocoa previous week (-14.7 percent)
Wheat (-10.7 percent) vs Wheat previous week (-10.8 percent)

Individual Soft Commodities Markets:

CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week came in at a net position of -190,191 contracts in the data reported through Tuesday. This was a weekly fall of -8,855 contracts from the previous week which had a total of -181,336 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 9.5 percent. The commercials are Bullish-Extreme with a score of 88.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 100.0 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

CORN Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:17.943.510.4
– Percent of Open Interest Shorts:30.131.010.8
– Net Position:-190,191195,882-5,691
– Gross Longs:278,917677,996162,698
– Gross Shorts:469,108482,114168,389
– Long to Short Ratio:0.6 to 11.4 to 11.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):9.588.9100.0
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:5.3-7.016.4

 

SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week came in at a net position of 105,694 contracts in the data reported through Tuesday. This was a weekly fall of -11,767 contracts from the previous week which had a total of 117,461 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 28.8 percent. The commercials are Bullish with a score of 75.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 11.9 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SUGAR Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:23.752.78.8
– Percent of Open Interest Shorts:11.066.28.1
– Net Position:105,694-112,2026,508
– Gross Longs:197,840439,65373,784
– Gross Shorts:92,146551,85567,276
– Long to Short Ratio:2.1 to 10.8 to 11.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):28.875.011.9
– Strength Index Reading (3 Year Range):BearishBullishBearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:0.9-0.4-1.8

 

COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week came in at a net position of 73,563 contracts in the data reported through Tuesday. This was a weekly boost of 6,081 contracts from the previous week which had a total of 67,482 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 100.0 percent. The commercials are Bearish-Extreme with a score of 0.0 percent and the small traders (not shown in chart) are Bullish with a score of 60.0 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COFFEE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:38.934.34.2
– Percent of Open Interest Shorts:9.165.52.8
– Net Position:73,563-76,9573,394
– Gross Longs:95,93684,44810,331
– Gross Shorts:22,373161,4056,937
– Long to Short Ratio:4.3 to 10.5 to 11.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):100.00.060.0
– Strength Index Reading (3 Year Range):Bullish-ExtremeBearish-ExtremeBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:21.8-24.236.1

 

SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week came in at a net position of -158,477 contracts in the data reported through Tuesday. This was a weekly reduction of -437 contracts from the previous week which had a total of -158,040 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 8.7 percent. The commercials are Bullish-Extreme with a score of 90.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 87.8 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEANS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:10.958.36.8
– Percent of Open Interest Shorts:30.038.47.7
– Net Position:-158,477165,652-7,175
– Gross Longs:90,965484,85256,884
– Gross Shorts:249,442319,20064,059
– Long to Short Ratio:0.4 to 11.5 to 10.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):8.790.987.8
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:7.3-8.211.1

 

SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week came in at a net position of -10,632 contracts in the data reported through Tuesday. This was a weekly decrease of -6,775 contracts from the previous week which had a total of -3,857 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 24.5 percent. The commercials are Bullish with a score of 77.1 percent and the small traders (not shown in chart) are Bearish with a score of 20.8 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEAN OIL Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:19.447.95.1
– Percent of Open Interest Shorts:21.246.44.8
– Net Position:-10,6328,8941,738
– Gross Longs:112,246277,28829,366
– Gross Shorts:122,878268,39427,628
– Long to Short Ratio:0.9 to 11.0 to 11.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):24.577.120.8
– Strength Index Reading (3 Year Range):BearishBullishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:18.2-16.10.4

 

SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week came in at a net position of -22,062 contracts in the data reported through Tuesday. This was a weekly rise of 16,375 contracts from the previous week which had a total of -38,437 net contracts.

This 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 18.4 percent. The commercials are Bullish with a score of 78.9 percent and the small traders (not shown in chart) are Bearish with a score of 41.7 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

SOYBEAN MEAL Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:19.247.210.6
– Percent of Open Interest Shorts:23.946.66.6
– Net Position:-22,0622,94619,116
– Gross Longs:90,980223,33250,302
– Gross Shorts:113,042220,38631,186
– Long to Short Ratio:0.8 to 11.0 to 11.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):18.478.941.7
– Strength Index Reading (3 Year Range):Bearish-ExtremeBullishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:18.4-21.138.5

 

LIVE CATTLE Futures:

LIVE CATTLE Futures COT ChartThe LIVE CATTLE large speculator standing this week came in at a net position of 48,971 contracts in the data reported through Tuesday. This was a weekly decline of -11,085 contracts from the previous week which had a total of 60,056 net contracts.

This 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 31.7 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 55.1 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LIVE CATTLE Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:35.636.610.0
– Percent of Open Interest Shorts:18.351.712.3
– Net Position:48,971-42,479-6,492
– Gross Longs:100,435103,15228,228
– Gross Shorts:51,464145,63134,720
– Long to Short Ratio:2.0 to 10.7 to 10.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):31.770.855.1
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-18.422.0-5.1

 

LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week came in at a net position of 52,215 contracts in the data reported through Tuesday. This was a weekly increase of 9,080 contracts from the previous week which had a total of 43,135 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 72.6 percent. The commercials are Bearish with a score of 29.0 percent and the small traders (not shown in chart) are Bearish with a score of 46.3 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

LEAN HOGS Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:40.533.07.6
– Percent of Open Interest Shorts:24.046.910.2
– Net Position:52,215-43,955-8,260
– Gross Longs:128,394104,69724,100
– Gross Shorts:76,179148,65232,360
– Long to Short Ratio:1.7 to 10.7 to 10.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):72.629.046.3
– Strength Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:18.8-17.2-17.8

 

COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week came in at a net position of 72,676 contracts in the data reported through Tuesday. This was a weekly reduction of -16,089 contracts from the previous week which had a total of 88,765 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 Bullish with a score of 63.4 percent. The commercials are Bearish with a score of 36.7 percent and the small traders (not shown in chart) are Bullish with a score of 55.3 percent.

Price Trend-Following Model: Weak Uptrend

Our weekly trend-following model classifies the current market price position as: Weak Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COTTON Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:43.437.46.3
– Percent of Open Interest Shorts:13.769.83.7
– Net Position:72,676-79,1536,477
– Gross Longs:106,20091,58515,457
– Gross Shorts:33,524170,7388,980
– Long to Short Ratio:3.2 to 10.5 to 11.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):63.436.755.3
– Strength Index Reading (3 Year Range):BullishBearishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-22.322.9-24.9

 

COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week came in at a net position of 34,908 contracts in the data reported through Tuesday. This was a weekly increase of 1,237 contracts from the previous week which had a total of 33,671 net contracts.

This 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 Bullish with a score of 50.9 percent and the small traders (not shown in chart) are Bullish with a score of 64.2 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

COCOA Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:35.134.28.6
– Percent of Open Interest Shorts:14.059.04.9
– Net Position:34,908-41,0186,110
– Gross Longs:58,11256,70714,165
– Gross Shorts:23,20497,7258,055
– Long to Short Ratio:2.5 to 10.6 to 11.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):45.650.964.2
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-6.45.93.6

 

WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week came in at a net position of -52,397 contracts in the data reported through Tuesday. This was a weekly gain of 7,860 contracts from the previous week which had a total of -60,257 net contracts.

This 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 31.1 percent. The commercials are Bullish with a score of 66.2 percent and the small traders (not shown in chart) are Bullish with a score of 62.9 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

WHEAT Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:30.034.48.0
– Percent of Open Interest Shorts:43.121.18.2
– Net Position:-52,39753,124-727
– Gross Longs:119,333137,04931,819
– Gross Shorts:171,73083,92532,546
– Long to Short Ratio:0.7 to 11.6 to 11.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):31.166.262.9
– Strength Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:-10.79.213.2

 

Article By InvestMacro – Receive our weekly COT Newsletter

*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 Updates Financial News Soft Commodities
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