Soft Commodities Speculators continue to boost their Sugar bullish bets to 20-week high
Invest Macro 16.04.2022 19:59
By InvestMacro | COT | Data Tables | COT Leaders | Downloads | COT Newsletter
Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).
The latest COT data is updated through Tuesday April 12th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.
Highlighting the COT soft commodities data is once again a surge higher in this week’s Sugar futures bets. The speculative net position in the Sugar futures gained for a third consecutive week this week and for the seventh time in the past eight weeks. Sugar bullish bets have increased by a total of +165,301 contracts over that eight-week time-frame, going from 74,563 net contracts on February 15th to a total of 239,864 net contracts through Tuesday. This sentiment boost has now brought the current speculator net position to the most bullish level of the past twenty weeks, dating back to November 30th. Sugar prices have been strong as well and traded this week at their highest standing since back in November.
The soft commodities that saw higher bets this week were Corn (8,508 contracts), Sugar (51,317 contracts), Coffee (4,118 contracts), Soybean Oil (8,828 contracts), Live Cattle (2,775 contracts), Cocoa (2,525 contracts) and Wheat (3,935 contracts).
The markets with declining speculator bets this week were Soybeans (-629 contracts), Lean Hogs (-4,729 contracts), Cotton (-1,090 contracts) and Soybean Meal (-7,520 contracts).
Speculator strength standings for each Commodity where strength index is current net position compared to past three years, above 80 is bullish extreme, below 20 is bearish extreme
OI Strength = Current Open Interest level compared to last 3 years range Spec Strength = Current Net Speculator level compared to last 3 years range Strength Move = Six week change of Spec Strength
Data Snapshot of Commodity Market Traders | Columns Legend
Apr-12-2022OIOI-IndexSpec-NetSpec-IndexCom-NetCOM-IndexSmalls-NetSmalls-Index
WTI Crude
1,783,725
0
304,778
0
-350,603
100
45,825
80
Gold
577,639
40
254,287
69
-288,093
30
33,806
60
Silver
158,813
24
45,986
68
-63,690
36
17,704
46
Copper
204,825
30
23,350
59
-29,249
39
5,899
59
Palladium
6,340
0
-2,033
10
1,402
84
631
80
Platinum
63,363
27
6,415
11
-13,233
90
6,818
57
Natural Gas
1,170,828
20
-137,549
37
90,221
59
47,328
99
Brent
190,488
32
-36,318
50
33,933
50
2,385
41
Heating Oil
349,618
31
6,455
52
-32,434
37
25,979
88
Soybeans
752,157
34
198,295
79
-170,694
26
-27,601
24
Corn
1,589,848
36
495,581
93
-443,706
9
-51,875
13
Coffee
214,938
0
47,929
83
-52,716
19
4,787
24
Sugar
916,130
23
239,864
86
-301,628
11
61,764
84
Wheat
338,271
1
23,886
67
-21,258
20
-2,628
99
CORN Futures:
The CORN large speculator standing this week came in at a net position of 495,581 contracts in the data reported through Tuesday. This was a weekly lift of 8,508 contracts from the previous week which had a total of 487,073 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 93.3 percent. The commercials are Bearish-Extreme with a score of 8.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 13.2 percent.
CORN Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
36.0
45.4
9.4
– Percent of Open Interest Shorts:
4.8
73.3
12.7
– Net Position:
495,581
-443,706
-51,875
– Gross Longs:
572,527
721,141
149,665
– Gross Shorts:
76,946
1,164,847
201,540
– Long to Short Ratio:
7.4 to 1
0.6 to 1
0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
93.3
8.7
13.2
– Strength Index Reading (3 Year Range):
Bullish-Extreme
Bearish-Extreme
Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
4.4
-2.3
-10.8
SUGAR Futures:
The SUGAR large speculator standing this week came in at a net position of 239,864 contracts in the data reported through Tuesday. This was a weekly rise of 51,317 contracts from the previous week which had a total of 188,547 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 85.9 percent. The commercials are Bearish-Extreme with a score of 11.0 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 84.2 percent.
SUGAR Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
31.9
44.5
12.1
– Percent of Open Interest Shorts:
5.8
77.4
5.4
– Net Position:
239,864
-301,628
61,764
– Gross Longs:
292,621
407,382
110,845
– Gross Shorts:
52,757
709,010
49,081
– Long to Short Ratio:
5.5 to 1
0.6 to 1
2.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
85.9
11.0
84.2
– Strength Index Reading (3 Year Range):
Bullish-Extreme
Bearish-Extreme
Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
31.9
-37.2
50.7
COFFEE Futures:
The COFFEE large speculator standing this week came in at a net position of 47,929 contracts in the data reported through Tuesday. This was a weekly increase of 4,118 contracts from the previous week which had a total of 43,811 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 83.1 percent. The commercials are Bearish-Extreme with a score of 18.7 percent and the small traders (not shown in chart) are Bearish with a score of 24.4 percent.
COFFEE Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
26.4
51.6
5.0
– Percent of Open Interest Shorts:
4.1
76.1
2.7
– Net Position:
47,929
-52,716
4,787
– Gross Longs:
56,743
110,821
10,640
– Gross Shorts:
8,814
163,537
5,853
– Long to Short Ratio:
6.4 to 1
0.7 to 1
1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
83.1
18.7
24.4
– Strength Index Reading (3 Year Range):
Bullish-Extreme
Bearish-Extreme
Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
-10.4
10.8
3.2
SOYBEANS Futures:
The SOYBEANS large speculator standing this week came in at a net position of 198,295 contracts in the data reported through Tuesday. This was a weekly lowering of -629 contracts from the previous week which had a total of 198,924 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 79.3 percent. The commercials are Bearish with a score of 25.7 percent and the small traders (not shown in chart) are Bearish with a score of 24.4 percent.
SOYBEANS Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
32.9
47.0
7.1
– Percent of Open Interest Shorts:
6.6
69.6
10.8
– Net Position:
198,295
-170,694
-27,601
– Gross Longs:
247,765
353,160
53,388
– Gross Shorts:
49,470
523,854
80,989
– Long to Short Ratio:
5.0 to 1
0.7 to 1
0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
79.3
25.7
24.4
– Strength Index Reading (3 Year Range):
Bullish
Bearish
Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
-5.1
4.4
3.5
SOYBEAN OIL Futures:
The SOYBEAN OIL large speculator standing this week came in at a net position of 98,324 contracts in the data reported through Tuesday. This was a weekly gain of 8,828 contracts from the previous week which had a total of 89,496 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 76.9 percent. The commercials are Bearish with a score of 20.2 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 91.1 percent.
SOYBEAN OIL Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
31.2
46.9
11.1
– Percent of Open Interest Shorts:
4.2
79.6
5.4
– Net Position:
98,324
-119,136
20,812
– Gross Longs:
113,809
170,924
40,463
– Gross Shorts:
15,485
290,060
19,651
– Long to Short Ratio:
7.3 to 1
0.6 to 1
2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
76.9
20.2
91.1
– Strength Index Reading (3 Year Range):
Bullish
Bearish
Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
7.2
-9.5
20.6
SOYBEAN MEAL Futures:
The SOYBEAN MEAL large speculator standing this week came in at a net position of 116,258 contracts in the data reported through Tuesday. This was a weekly decrease of -7,520 contracts from the previous week which had a total of 123,778 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 92.2 percent. The commercials are Bearish-Extreme with a score of 5.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 98.7 percent.
SOYBEAN MEAL Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
32.8
42.9
13.1
– Percent of Open Interest Shorts:
3.5
80.2
5.1
– Net Position:
116,258
-148,220
31,962
– Gross Longs:
130,357
170,806
52,146
– Gross Shorts:
14,099
319,026
20,184
– Long to Short Ratio:
9.2 to 1
0.5 to 1
2.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
92.2
5.9
98.7
– Strength Index Reading (3 Year Range):
Bullish-Extreme
Bearish-Extreme
Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
1.7
-5.1
28.2
LIVE CATTLE Futures:
The LIVE CATTLE large speculator standing this week came in at a net position of 51,842 contracts in the data reported through Tuesday. This was a weekly advance of 2,775 contracts from the previous week which had a total of 49,067 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 23.8 percent. The commercials are Bullish with a score of 72.3 percent and the small traders (not shown in chart) are Bullish with a score of 65.1 percent.
LIVE CATTLE Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
36.9
40.4
10.1
– Percent of Open Interest Shorts:
20.1
54.4
12.9
– Net Position:
51,842
-43,300
-8,542
– Gross Longs:
113,806
124,469
31,249
– Gross Shorts:
61,964
167,769
39,791
– Long to Short Ratio:
1.8 to 1
0.7 to 1
0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
23.8
72.3
65.1
– Strength Index Reading (3 Year Range):
Bearish
Bullish
Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
-4.8
6.5
-1.6
LEAN HOGS Futures:
The LEAN HOGS large speculator standing this week came in at a net position of 40,771 contracts in the data reported through Tuesday. This was a weekly reduction of -4,729 contracts from the previous week which had a total of 45,500 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 51.2 percent. The commercials are Bullish with a score of 51.3 percent and the small traders (not shown in chart) are Bullish with a score of 68.1 percent.
LEAN HOGS Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
36.4
35.0
10.2
– Percent of Open Interest Shorts:
18.7
50.4
12.4
– Net Position:
40,771
-35,705
-5,066
– Gross Longs:
84,112
80,838
23,679
– Gross Shorts:
43,341
116,543
28,745
– Long to Short Ratio:
1.9 to 1
0.7 to 1
0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
51.2
51.3
68.1
– Strength Index Reading (3 Year Range):
Bullish
Bullish
Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
-22.3
19.7
19.0
COTTON Futures:
The COTTON large speculator standing this week came in at a net position of 83,220 contracts in the data reported through Tuesday. This was a weekly lowering of -1,090 contracts from the previous week which had a total of 84,310 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 75.7 percent. The commercials are Bearish with a score of 21.5 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 97.5 percent.
COTTON Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
45.1
35.4
9.3
– Percent of Open Interest Shorts:
7.4
79.2
3.2
– Net Position:
83,220
-96,675
13,455
– Gross Longs:
99,542
78,213
20,481
– Gross Shorts:
16,322
174,888
7,026
– Long to Short Ratio:
6.1 to 1
0.4 to 1
2.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
75.7
21.5
97.5
– Strength Index Reading (3 Year Range):
Bullish
Bearish
Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
-5.5
3.6
15.2
COCOA Futures:
The COCOA large speculator standing this week came in at a net position of 39,159 contracts in the data reported through Tuesday. This was a weekly advance of 2,525 contracts from the previous week which had a total of 36,634 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 56.0 percent. The commercials are Bearish with a score of 40.6 percent and the small traders (not shown in chart) are Bullish with a score of 72.0 percent.
COCOA Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
31.0
44.8
6.9
– Percent of Open Interest Shorts:
14.7
64.2
3.8
– Net Position:
39,159
-46,610
7,451
– Gross Longs:
74,307
107,381
16,611
– Gross Shorts:
35,148
153,991
9,160
– Long to Short Ratio:
2.1 to 1
0.7 to 1
1.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
56.0
40.6
72.0
– Strength Index Reading (3 Year Range):
Bullish
Bearish
Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
13.4
-10.9
-24.9
WHEAT Futures:
The WHEAT large speculator standing this week came in at a net position of 23,886 contracts in the data reported through Tuesday. This was a weekly lift of 3,935 contracts from the previous week which had a total of 19,951 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 67.4 percent. The commercials are Bearish with a score of 20.1 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 99.1 percent.
WHEAT Futures Statistics
SPECULATORS
COMMERCIALS
SMALL TRADERS
– Percent of Open Interest Longs:
35.3
37.1
9.6
– Percent of Open Interest Shorts:
28.3
43.4
10.4
– Net Position:
23,886
-21,258
-2,628
– Gross Longs:
119,566
125,657
32,500
– Gross Shorts:
95,680
146,915
35,128
– Long to Short Ratio:
1.2 to 1
0.9 to 1
0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct):
67.4
20.1
99.1
– Strength Index Reading (3 Year Range):
Bullish
Bearish
Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:
14.9
-21.0
21.9
Article By InvestMacro – Receive our weekly COT Reports by Email
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.
The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.