Archive for Soft Commodities

COT Soft Commodities Futures Charts: Cattle, Hogs, Sugar, Corn, Soybeans, Wheat, Coffee

By CountingPips.comReceive our weekly COT Reports by Email

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 06 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.


CORN Futures:


The CORN large speculator standing this week totaled a net position of 536,152 contracts in the data reported through Tuesday. This was a weekly gain of 807 contracts from the previous week which had a total of 535,345 net contracts.

This 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 98.5 percent. The commercials are Bearish-Extreme with a score of 1.9 percent and the small traders (not shown in chart) are Bearish with a score of 22.7 percent.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 34.5 45.0 8.2
– Percent of Open Interest Shorts: 4.1 72.9 10.7
– Net Position: 536,152 -491,962 -44,190
– Gross Longs: 608,489 794,377 145,283
– Gross Shorts: 72,337 1,286,339 189,473
– Long to Short Ratio: 8.4 to 1 0.6 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 98.5 1.9 22.7
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 0.8 0.8 -6.5

 


SUGAR Futures:


The SUGAR large speculator standing this week totaled a net position of 183,005 contracts in the data reported through Tuesday. This was a weekly reduction of -7,164 contracts from the previous week which had a total of 190,169 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 74.2 percent. The commercials are Bearish with a score of 24.9 percent and the small traders (not shown in chart) are Bullish with a score of 63.9 percent.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 23.1 54.5 9.4
– Percent of Open Interest Shorts: 5.6 76.3 5.0
– Net Position: 183,005 -228,329 45,324
– Gross Longs: 241,563 568,500 97,651
– Gross Shorts: 58,558 796,829 52,327
– Long to Short Ratio: 4.1 to 1 0.7 to 1 1.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 74.2 24.9 63.9
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -11.3 15.9 -36.1

 


COFFEE Futures:


The COFFEE large speculator standing this week totaled a net position of 31,904 contracts in the data reported through Tuesday. This was a weekly fall of -5,713 contracts from the previous week which had a total of 37,617 net contracts.

This 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 79.1 percent. The commercials are Bearish with a score of 21.9 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 19.5 percent.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 23.4 49.5 4.2
– Percent of Open Interest Shorts: 12.3 62.1 2.7
– Net Position: 31,904 -36,408 4,504
– Gross Longs: 67,634 143,349 12,223
– Gross Shorts: 35,730 179,757 7,719
– Long to Short Ratio: 1.9 to 1 0.8 to 1 1.6 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 79.1 21.9 19.5
– COT Index Reading (3 Year Range): Bullish Bearish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -16.7 18.3 -9.6

 


SOYBEANS Futures:


The SOYBEANS large speculator standing this week totaled a net position of 233,803 contracts in the data reported through Tuesday. This was a weekly boost of 22,124 contracts from the previous week which had a total of 211,679 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 88.1 percent. The commercials are Bearish-Extreme with a score of 13.1 percent and the small traders (not shown in chart) are Bullish with a score of 68.0 percent.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.8 45.3 7.7
– Percent of Open Interest Shorts: 5.0 71.1 8.8
– Net Position: 233,803 -224,010 -9,793
– Gross Longs: 276,934 394,408 66,733
– Gross Shorts: 43,131 618,418 76,526
– Long to Short Ratio: 6.4 to 1 0.6 to 1 0.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 88.1 13.1 68.0
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.5 0.6 3.9

 


SOYBEAN OIL Futures:


The SOYBEAN OIL large speculator standing this week totaled a net position of 94,703 contracts in the data reported through Tuesday. This was a weekly fall of -5,688 contracts from the previous week which had a total of 100,391 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 78.0 percent. The commercials are Bearish with a score of 20.7 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 81.4 percent.

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.5 47.1 9.1
– Percent of Open Interest Shorts: 8.4 69.8 5.4
– Net Position: 94,703 -112,924 18,221
– Gross Longs: 136,684 233,926 45,209
– Gross Shorts: 41,981 346,850 26,988
– Long to Short Ratio: 3.3 to 1 0.7 to 1 1.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 78.0 20.7 81.4
– COT Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -16.3 16.4 -8.9

 


SOYBEAN MEAL Futures:


The SOYBEAN MEAL large speculator standing this week totaled a net position of 89,453 contracts in the data reported through Tuesday. This was a weekly lift of 125 contracts from the previous week which had a total of 89,328 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 64.0 percent. The commercials are Bearish with a score of 32.2 percent and the small traders (not shown in chart) are Bullish with a score of 73.7 percent.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 24.8 49.1 12.9
– Percent of Open Interest Shorts: 3.3 76.8 6.7
– Net Position: 89,453 -115,178 25,725
– Gross Longs: 103,009 203,511 53,489
– Gross Shorts: 13,556 318,689 27,764
– Long to Short Ratio: 7.6 to 1 0.6 to 1 1.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 64.0 32.2 73.7
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -4.3 4.3 0.0

 


LIVE CATTLE Futures:


The LIVE CATTLE large speculator standing this week totaled a net position of 92,683 contracts in the data reported through Tuesday. This was a weekly gain of 8,827 contracts from the previous week which had a total of 83,856 net contracts.

This 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 52.9 percent. The commercials are Bearish with a score of 38.8 percent and the small traders (not shown in chart) are Bullish with a score of 62.8 percent.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 39.1 35.8 9.6
– Percent of Open Interest Shorts: 12.1 59.9 12.5
– Net Position: 92,683 -82,699 -9,984
– Gross Longs: 134,251 123,138 33,149
– Gross Shorts: 41,568 205,837 43,133
– Long to Short Ratio: 3.2 to 1 0.6 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 52.9 38.8 62.8
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 2.1 -4.5 5.8

 


LEAN HOGS Futures:


The LEAN HOGS large speculator standing this week totaled a net position of 82,207 contracts in the data reported through Tuesday. This was a weekly decline of -1,344 contracts from the previous week which had a total of 83,551 net contracts.

This 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 98.8 percent. The commercials are Bearish-Extreme with a score of 1.0 percent and the small traders (not shown in chart) are Bearish with a score of 44.4 percent.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 42.0 29.6 9.3
– Percent of Open Interest Shorts: 13.6 55.5 11.7
– Net Position: 82,207 -75,178 -7,029
– Gross Longs: 121,642 85,686 26,899
– Gross Shorts: 39,435 160,864 33,928
– Long to Short Ratio: 3.1 to 1 0.5 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 98.8 1.0 44.4
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 10.2 -13.7 20.6

 


COTTON Futures:


The COTTON large speculator standing this week totaled a net position of 74,388 contracts in the data reported through Tuesday. This was a weekly decline of -2,263 contracts from the previous week which had a total of 76,651 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 67.9 percent. The commercials are Bearish with a score of 32.0 percent and the small traders (not shown in chart) are Bullish with a score of 60.8 percent.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 37.4 41.0 7.0
– Percent of Open Interest Shorts: 5.0 77.0 3.4
– Net Position: 74,388 -82,644 8,256
– Gross Longs: 85,822 94,112 16,044
– Gross Shorts: 11,434 176,756 7,788
– Long to Short Ratio: 7.5 to 1 0.5 to 1 2.1 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 67.9 32.0 60.8
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -14.0 15.5 -27.8

 


COCOA Futures:


The COCOA large speculator standing this week totaled a net position of 25,372 contracts in the data reported through Tuesday. This was a weekly boost of 874 contracts from the previous week which had a total of 24,498 net contracts.

This 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 46.5 percent. The commercials are Bullish with a score of 52.1 percent and the small traders (not shown in chart) are Bullish with a score of 60.8 percent.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.8 47.1 6.1
– Percent of Open Interest Shorts: 16.4 63.0 3.7
– Net Position: 25,372 -29,976 4,604
– Gross Longs: 56,360 89,122 11,585
– Gross Shorts: 30,988 119,098 6,981
– Long to Short Ratio: 1.8 to 1 0.7 to 1 1.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 46.5 52.1 60.8
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -0.2 3.2 -38.1

 


WHEAT Futures:


The WHEAT large speculator standing this week totaled a net position of 11,204 contracts in the data reported through Tuesday. This was a weekly increase of 8,120 contracts from the previous week which had a total of 3,084 net contracts.

This 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 46.8 percent. The commercials are Bullish with a score of 56.5 percent and the small traders (not shown in chart) are Bearish with a score of 44.1 percent.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.2 36.7 7.4
– Percent of Open Interest Shorts: 26.5 36.5 10.3
– Net Position: 11,204 828 -12,032
– Gross Longs: 120,515 151,697 30,431
– Gross Shorts: 109,311 150,869 42,463
– Long to Short Ratio: 1.1 to 1 1.0 to 1 0.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 46.8 56.5 44.1
– COT Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -11.4 11.8 -0.4

 


Article By CountingPips.comReceive 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).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

COT Soft Commodities Futures Charts: Sugar, Coffee, Wheat, Cattle, Corn, Soybeans, Hogs

By CountingPips.comReceive our weekly COT Reports by Email

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 March 30 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.


CORN:

CORN

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 35.2 44.9 8.1
– Percent of Open Interest Shorts: 4.5 73.4 10.3
– Net Position: 535,345 -495,989 -39,356
– Gross Longs: 613,446 782,465 140,798
– Gross Shorts: 78,101 1,278,454 180,154
– Long to Short Ratio: 7.9 to 1 0.6 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 98.4 1.3 25.3
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 2.7 -2.1 -3.4

 


SUGAR:

SUGAR

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 23.8 52.7 8.9
– Percent of Open Interest Shorts: 5.7 75.2 4.5
– Net Position: 190,169 -236,644 46,475
– Gross Longs: 249,957 552,698 93,917
– Gross Shorts: 59,788 789,342 47,442
– Long to Short Ratio: 4.2 to 1 0.7 to 1 2.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 75.7 23.3 65.3
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -7.6 10.9 -25.7

 


COFFEE:

COFFEE

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 24.6 49.4 4.5
– Percent of Open Interest Shorts: 11.5 64.2 2.8
– Net Position: 37,617 -42,544 4,927
– Gross Longs: 70,698 142,082 12,980
– Gross Shorts: 33,081 184,626 8,053
– Long to Short Ratio: 2.1 to 1 0.8 to 1 1.6 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 82.6 18.0 22.4
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -3.7 4.0 -1.5

 


SOYBEANS:

SOYBEANS

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.3 46.3 7.4
– Percent of Open Interest Shorts: 5.8 69.0 9.2
– Net Position: 211,679 -196,006 -15,673
– Gross Longs: 261,759 399,817 63,830
– Gross Shorts: 50,080 595,823 79,503
– Long to Short Ratio: 5.2 to 1 0.7 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 82.6 19.7 61.0
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -6.0 7.8 -10.2

 


SOYBEAN OIL:

SOYBEAN OIL

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.9 46.5 8.2
– Percent of Open Interest Shorts: 9.6 69.8 5.4
– Net Position: 100,391 -114,489 14,098
– Gross Longs: 147,627 229,450 40,590
– Gross Shorts: 47,236 343,939 26,492
– Long to Short Ratio: 3.1 to 1 0.7 to 1 1.5 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 80.7 20.0 66.0
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -10.2 13.3 -31.1

 


SOYBEAN MEAL:

SOYBEAN MEAL

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.6 48.6 12.9
– Percent of Open Interest Shorts: 3.8 76.3 7.1
– Net Position: 89,328 -113,251 23,923
– Gross Longs: 104,701 199,021 52,819
– Gross Shorts: 15,373 312,272 28,896
– Long to Short Ratio: 6.8 to 1 0.6 to 1 1.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 64.0 33.0 66.5
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -3.8 4.7 -8.2

 


LIVE CATTLE:

LIVE CATTLE

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 37.2 36.9 9.8
– Percent of Open Interest Shorts: 12.3 59.0 12.5
– Net Position: 83,856 -74,627 -9,229
– Gross Longs: 125,535 124,731 33,087
– Gross Shorts: 41,679 199,358 42,316
– Long to Short Ratio: 3.0 to 1 0.6 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 47.2 45.3 64.6
– COT Index Reading (3 Year Range): Bearish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -8.0 5.9 12.1

 


LEAN HOGS:

LEAN HOGS

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 42.7 29.7 9.2
– Percent of Open Interest Shorts: 13.3 56.6 11.7
– Net Position: 83,551 -76,344 -7,207
– Gross Longs: 121,311 84,457 26,081
– Gross Shorts: 37,760 160,801 33,288
– Long to Short Ratio: 3.2 to 1 0.5 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 100.0 0.0 43.5
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 16.6 -19.2 16.4

 


COTTON:

COTTON Futures

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 38.1 43.1 7.1
– Percent of Open Interest Shorts: 4.4 79.8 4.0
– Net Position: 76,651 -83,696 7,045
– Gross Longs: 86,797 98,342 16,155
– Gross Shorts: 10,146 182,038 9,110
– Long to Short Ratio: 8.6 to 1 0.5 to 1 1.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 69.2 31.4 53.8
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -9.5 12.0 -33.5

 


COCOA:

COCOA

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.6 43.6 6.0
– Percent of Open Interest Shorts: 19.8 59.0 3.4
– Net Position: 24,498 -29,523 5,025
– Gross Longs: 62,672 83,939 11,511
– Gross Shorts: 38,174 113,462 6,486
– Long to Short Ratio: 1.6 to 1 0.7 to 1 1.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 45.7 52.5 65.6
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.5 3.4 -24.7

 


WHEAT:

WHEAT Futures

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.8 37.5 7.5
– Percent of Open Interest Shorts: 27.1 35.5 10.2
– Net Position: 3,084 8,423 -11,507
– Gross Longs: 117,365 158,268 31,567
– Gross Shorts: 114,281 149,845 43,074
– Long to Short Ratio: 1.0 to 1 1.1 to 1 0.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 41.1 62.1 46.6
– COT Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -20.3 21.4 -3.5

 


Article By CountingPips.comReceive 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).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

COT Soft Commodities Futures Charts: Live Cattle, Hogs, Sugar, Coffee, Corn, Soybeans, Wheat

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 March 23 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.


CORN:

COT Soft Commodities Futures Charts

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 35.3 44.8 8.3
– Percent of Open Interest Shorts: 4.4 73.5 10.5
– Net Position: 538,700 -501,298 -37,402
– Gross Longs: 616,101 782,733 145,837
– Gross Shorts: 77,401 1,284,031 183,239
– Long to Short Ratio: 8.0 to 1 0.6 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 98.9 0.5 26.4
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 2.1 -0.9 -5.4

 


SUGAR:

COT Soft Commodities Futures Charts

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.1 51.2 9.3
– Percent of Open Interest Shorts: 6.2 75.3 4.2
– Net Position: 198,687 -252,442 53,755
– Gross Longs: 263,414 537,022 97,396
– Gross Shorts: 64,727 789,464 43,641
– Long to Short Ratio: 4.1 to 1 0.7 to 1 2.2 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 77.4 20.3 74.6
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -2.6 5.3 -18.8

 


COFFEE:

COT Soft Commodities Futures Charts

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.0 46.6 4.4
– Percent of Open Interest Shorts: 9.7 65.0 2.3
– Net Position: 46,428 -52,353 5,925
– Gross Longs: 74,093 132,749 12,582
– Gross Shorts: 27,665 185,102 6,657
– Long to Short Ratio: 2.7 to 1 0.7 to 1 1.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 87.9 11.8 29.3
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 2.7 -2.4 -5.2

 


SOYBEANS:

COT Soft Commodities Futures Charts

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.7 45.1 7.8
– Percent of Open Interest Shorts: 5.0 70.5 9.2
– Net Position: 227,664 -215,994 -11,670
– Gross Longs: 270,745 385,290 66,967
– Gross Shorts: 43,081 601,284 78,637
– Long to Short Ratio: 6.3 to 1 0.6 to 1 0.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 86.6 15.0 67.0
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -5.3 7.3 -10.8

 


SOYBEAN OIL:

COT Soft Commodities Futures Charts

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.5 44.5 9.5
– Percent of Open Interest Shorts: 7.9 70.4 5.3
– Net Position: 108,024 -129,175 21,151
– Gross Longs: 147,232 221,889 47,529
– Gross Shorts: 39,208 351,064 26,378
– Long to Short Ratio: 3.8 to 1 0.6 to 1 1.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 84.3 13.5 92.4
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -7.0 6.9 -2.8

 


SOYBEAN MEAL:

COT Soft Commodities Futures Charts

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.3 48.4 13.1
– Percent of Open Interest Shorts: 4.0 76.4 6.5
– Net Position: 87,441 -114,760 27,319
– Gross Longs: 103,583 197,640 53,727
– Gross Shorts: 16,142 312,400 26,408
– Long to Short Ratio: 6.4 to 1 0.6 to 1 2.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 63.1 32.3 80.1
– COT Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -4.5 6.7 -19.9

 


LIVE CATTLE:

COT Soft Commodities Futures Charts

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 35.9 37.3 9.9
– Percent of Open Interest Shorts: 12.5 58.0 12.6
– Net Position: 78,630 -69,516 -9,114
– Gross Longs: 120,460 125,222 33,308
– Gross Shorts: 41,830 194,738 42,422
– Long to Short Ratio: 2.9 to 1 0.6 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 43.8 49.4 64.9
– COT Index Reading (3 Year Range): Bearish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -8.8 7.4 10.5

 


LEAN HOGS:

COT Soft Commodities Futures Charts

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 42.5 31.1 9.3
– Percent of Open Interest Shorts: 13.1 57.4 12.3
– Net Position: 80,791 -72,448 -8,343
– Gross Longs: 116,856 85,464 25,589
– Gross Shorts: 36,065 157,912 33,932
– Long to Short Ratio: 3.2 to 1 0.5 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 99.6 1.2 38.2
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 26.6 -27.2 6.5

 


COTTON:

COT Soft Commodities Futures Charts

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 39.8 41.5 7.1
– Percent of Open Interest Shorts: 3.6 81.4 3.4
– Net Position: 82,946 -91,485 8,539
– Gross Longs: 91,321 95,344 16,376
– Gross Shorts: 8,375 186,829 7,837
– Long to Short Ratio: 10.9 to 1 0.5 to 1 2.1 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 73.1 27.0 62.5
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -5.4 7.9 -29.7

 


COCOA:

COT Soft Commodities Futures Charts

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 35.5 39.9 5.6
– Percent of Open Interest Shorts: 15.2 62.5 3.4
– Net Position: 40,658 -45,189 4,531
– Gross Longs: 71,156 79,979 11,300
– Gross Shorts: 30,498 125,168 6,769
– Long to Short Ratio: 2.3 to 1 0.6 to 1 1.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 60.4 38.5 60.0
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 10.9 -8.1 -32.7

 


WHEAT:

COT Soft Commodities Futures Charts

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.0 37.1 7.6
– Percent of Open Interest Shorts: 25.4 38.4 10.0
– Net Position: 15,256 -5,180 -10,076
– Gross Longs: 122,189 156,199 32,085
– Gross Shorts: 106,933 161,379 42,161
– Long to Short Ratio: 1.1 to 1 1.0 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 49.7 52.2 53.5
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -8.8 9.2 -1.0

 


Article By CountingPips.comReceive 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).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

COT Soft Commodities Futures Charts: Soybeans, LeanHogs, Corn, Cattle, Sugar, Coffee

By CountingPips.comReceive our weekly COT Reports by Email

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 March 16 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.


CORN:

CORN

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.6 46.8 8.3
– Percent of Open Interest Shorts: 4.1 73.6 10.0
– Net Position: 509,084 -478,665 -30,419
– Gross Longs: 583,279 838,502 149,310
– Gross Shorts: 74,195 1,317,167 179,729
– Long to Short Ratio: 7.9 to 1 0.6 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 95.1 3.8 30.1
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -2.5 2.4 1.4

 


SUGAR:

SUGAR

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.1 49.6 10.2
– Percent of Open Interest Shorts: 5.7 76.2 3.9
– Net Position: 213,767 -279,633 65,866
– Gross Longs: 273,487 519,254 106,364
– Gross Shorts: 59,720 798,887 40,498
– Long to Short Ratio: 4.6 to 1 0.6 to 1 2.6 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 80.5 15.1 89.4
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.8 1.8 -0.7

 


COFFEE:

COFFEE

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.0 45.0 4.1
– Percent of Open Interest Shorts: 8.0 65.9 2.1
– Net Position: 52,943 -58,502 5,559
– Gross Longs: 75,413 125,745 11,530
– Gross Shorts: 22,470 184,247 5,971
– Long to Short Ratio: 3.4 to 1 0.7 to 1 1.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 91.9 7.9 26.8
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 5.4 -5.2 -5.1

 


SOYBEANS:

SOYBEANS

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.0 45.7 7.9
– Percent of Open Interest Shorts: 5.1 70.5 9.0
– Net Position: 221,531 -212,051 -9,480
– Gross Longs: 265,531 391,676 67,451
– Gross Shorts: 44,000 603,727 76,931
– Long to Short Ratio: 6.0 to 1 0.6 to 1 0.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 85.1 15.9 69.7
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -5.1 6.3 -6.7

 


SOYBEAN OIL:

SOYBEAN OIL

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.8 41.6 10.0
– Percent of Open Interest Shorts: 6.6 70.5 5.3
– Net Position: 120,152 -143,351 23,199
– Gross Longs: 152,943 206,802 49,602
– Gross Shorts: 32,791 350,153 26,403
– Long to Short Ratio: 4.7 to 1 0.6 to 1 1.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 90.0 7.2 100.0
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -2.3 1.0 9.8

 


SOYBEAN MEAL:

SOYBEAN MEAL

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.1 48.4 12.8
– Percent of Open Interest Shorts: 3.8 76.9 6.6
– Net Position: 92,181 -117,934 25,753
– Gross Longs: 107,983 200,737 52,925
– Gross Shorts: 15,802 318,671 27,172
– Long to Short Ratio: 6.8 to 1 0.6 to 1 1.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 65.3 30.9 73.8
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.9 2.3 -3.9

 


LIVE CATTLE:

LIVE CATTLE

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 36.2 35.9 10.0
– Percent of Open Interest Shorts: 11.1 58.3 12.7
– Net Position: 85,285 -76,008 -9,277
– Gross Longs: 123,037 121,864 33,844
– Gross Shorts: 37,752 197,872 43,121
– Long to Short Ratio: 3.3 to 1 0.6 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 48.1 44.2 64.5
– COT Index Reading (3 Year Range): Bearish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 4.0 -6.4 4.4

 


LEAN HOGS:

LEAN HOGS

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 42.6 30.8 9.1
– Percent of Open Interest Shorts: 12.6 57.9 11.9
– Net Position: 81,267 -73,742 -7,525
– Gross Longs: 115,538 83,469 24,637
– Gross Shorts: 34,271 157,211 32,162
– Long to Short Ratio: 3.4 to 1 0.5 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 100.0 0.0 42.0
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 31.6 -33.4 13.3

 


COTTON:

COTTON

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 40.2 41.1 7.1
– Percent of Open Interest Shorts: 3.6 81.6 3.1
– Net Position: 84,949 -94,117 9,168
– Gross Longs: 93,354 95,370 16,432
– Gross Shorts: 8,405 189,487 7,264
– Long to Short Ratio: 11.1 to 1 0.5 to 1 2.3 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 74.4 25.5 66.1
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 6.8 -5.4 -9.1

 


COCOA:

COCOA

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 37.1 37.4 5.6
– Percent of Open Interest Shorts: 15.1 62.3 2.8
– Net Position: 44,756 -50,579 5,823
– Gross Longs: 75,411 76,055 11,434
– Gross Shorts: 30,655 126,634 5,611
– Long to Short Ratio: 2.5 to 1 0.6 to 1 2.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 64.1 33.7 74.7
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 10.1 -8.7 -16.2

 


WHEAT:

WHEAT

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.2 37.7 8.0
– Percent of Open Interest Shorts: 24.1 39.6 10.2
– Net Position: 17,056 -7,681 -9,375
– Gross Longs: 118,153 158,201 33,353
– Gross Shorts: 101,097 165,882 42,728
– Long to Short Ratio: 1.2 to 1 1.0 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 51.0 50.4 56.8
– COT Index Reading (3 Year Range): Bullish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -11.1 9.3 13.8

 


Article By CountingPips.comReceive 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).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

COT Soft Commodities Futures Charts: Corn, Soybeans, Wheat, Cattle, Hogs, Sugar, Coffee

By CountingPips.comReceive our weekly COT Reports by Email

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 March 09 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.


CORN:

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.5 46.9 8.6
– Percent of Open Interest Shorts: 4.4 73.6 10.0
– Net Position: 503,398 -478,215 -25,183
– Gross Longs: 582,449 839,209 153,176
– Gross Shorts: 79,051 1,317,424 178,359
– Long to Short Ratio: 7.4 to 1 0.6 to 1 0.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 94.3 3.8 33.0
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -5.7 3.8 9.4

 


SUGAR:

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.9 49.8 10.6
– Percent of Open Interest Shorts: 5.3 76.9 4.1
– Net Position: 212,933 -279,612 66,679
– Gross Longs: 267,363 513,936 109,192
– Gross Shorts: 54,430 793,548 42,513
– Long to Short Ratio: 4.9 to 1 0.6 to 1 2.6 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 80.4 15.1 90.4
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -5.1 4.2 3.2

 


COFFEE:

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.0 44.8 4.3
– Percent of Open Interest Shorts: 7.5 66.4 2.2
– Net Position: 53,784 -59,570 5,786
– Gross Longs: 74,405 123,600 11,863
– Gross Shorts: 20,621 183,170 6,077
– Long to Short Ratio: 3.6 to 1 0.7 to 1 2.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 92.4 7.2 28.4
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 7.1 -7.0 -4.7

 


SOYBEANS:

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.7 46.1 7.7
– Percent of Open Interest Shorts: 4.7 71.0 8.7
– Net Position: 224,745 -215,869 -8,876
– Gross Longs: 265,874 399,748 66,705
– Gross Shorts: 41,129 615,617 75,581
– Long to Short Ratio: 6.5 to 1 0.6 to 1 0.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 85.9 15.0 70.4
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -2.9 3.6 -4.4

 


SOYBEAN OIL:

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.7 42.6 9.4
– Percent of Open Interest Shorts: 5.5 70.9 5.4
– Net Position: 119,634 -139,323 19,689
– Gross Longs: 146,506 210,134 46,484
– Gross Shorts: 26,872 349,457 26,795
– Long to Short Ratio: 5.5 to 1 0.6 to 1 1.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 89.8 9.0 89.5
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -3.9 3.9 -2.1

 


SOYBEAN MEAL:

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.9 46.4 13.3
– Percent of Open Interest Shorts: 4.0 76.1 6.5
– Net Position: 94,155 -122,076 27,921
– Gross Longs: 110,628 190,703 54,608
– Gross Shorts: 16,473 312,779 26,687
– Long to Short Ratio: 6.7 to 1 0.6 to 1 2.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 66.2 29.0 82.5
– COT Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -2.5 1.5 8.4

 


LIVE CATTLE:

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 37.0 36.4 9.7
– Percent of Open Interest Shorts: 11.8 58.5 12.9
– Net Position: 83,876 -73,407 -10,469
– Gross Longs: 123,289 121,160 32,398
– Gross Shorts: 39,413 194,567 42,867
– Long to Short Ratio: 3.1 to 1 0.6 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 47.2 46.3 61.6
– COT Index Reading (3 Year Range): Bearish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 6.1 -9.1 4.5

 


LEAN HOGS:

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 42.1 30.3 8.9
– Percent of Open Interest Shorts: 12.5 56.6 12.2
– Net Position: 78,335 -69,614 -8,721
– Gross Longs: 111,301 80,020 23,534
– Gross Shorts: 32,966 149,634 32,255
– Long to Short Ratio: 3.4 to 1 0.5 to 1 0.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 100.0 2.4 38.4
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 35.5 -35.0 4.7

 


COTTON:

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 39.5 41.1 7.4
– Percent of Open Interest Shorts: 4.1 80.4 3.3
– Net Position: 82,361 -91,772 9,411
– Gross Longs: 92,023 95,711 17,198
– Gross Shorts: 9,662 187,483 7,787
– Long to Short Ratio: 9.5 to 1 0.5 to 1 2.2 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 72.8 26.8 67.6
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 2.6 -1.0 -14.2

 


COCOA:

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 38.3 37.1 5.9
– Percent of Open Interest Shorts: 16.0 62.6 2.7
– Net Position: 44,721 -50,956 6,235
– Gross Longs: 76,611 74,136 11,692
– Gross Shorts: 31,890 125,092 5,457
– Long to Short Ratio: 2.4 to 1 0.6 to 1 2.1 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 64.1 33.4 79.4
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 12.5 -11.7 -7.2

 


WHEAT:

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.6 37.1 7.8
– Percent of Open Interest Shorts: 23.3 40.3 11.0
– Net Position: 26,086 -13,162 -12,924
– Gross Longs: 121,874 152,794 32,296
– Gross Shorts: 95,788 165,956 45,220
– Long to Short Ratio: 1.3 to 1 0.9 to 1 0.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 57.3 46.4 39.9
– COT Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -7.1 8.2 -6.0

 


Article By CountingPips.comReceive 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).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

Oat Prices AND the Truth Behind the “White Gold” Rush

Oat futures’ recent surge to 7-year highs wasn’t caused by the oat milk craze; think “market psychology” instead

By Elliott Wave International

Generally speaking, the idea of oats is about as exciting as, well, a bowl of steel cut oatmeal.

But this chart of oat futures shows why this ordinarily ordinary grain has stolen the commodity spotlight. For starters, February 2021 saw oat prices soar to their highest level in 7 years.

As for what’s behind this newfound dev-oat-tion — mainstream experts like these below cite the craze for alternative milk products and oat milk specifically.

“Oat Milk is Everywhere…. In fact, oat milk is the second most popular plant milk now, right behind almond milk, racking up over $249 million in sales last year.” (Feb. 9 Today.com)

“Industry Sewing Seeds as Oat Milk Popularity Rises.” (Feb. 4 RNZ)

For some perspective, fever for the world’s most popular oat milk producer Oatly is so hot it was featured in this year’s Super Bowl ad lineup in a still talked about spot featuring the company’s CEO, sitting in a field of oats behind a single keyboard awkwardly singing “Wow No Cow!” over and over for 30 seconds! The spot became the butt of jokes across the globe and was dubbed the “Worst Superbowl Ad Ever” by Australia’s news.com.au:

Speaking of Wow Holy Cow! Oatly also announced in February its plans to go public in the U.S. Thanks to investments in the company by famous celebrities like Oprah Winfrey, Natalie Portman and Jay-Z, its IPO is estimated to be worth between $5 and $10 billion.

Ergo, the oat-milk craze caused the late 2020 rally in oat futures to 7-year highs — right?

Not exactly. We believe this line of thinking is a bit — well — lact-oat intolerant of the facts. See, the oat bloat trend is not a new phenomenon. For those following these trends for more than a hot minute, there was the summer of 2018, when a shortage on oat milk prompted news sites across the country to riff satirical about how hip cities like Brooklyn, NY would survive the alt-dairy deficit. See this August 15, 2018 Guardian headline, for example:

In January 2019, the Guardian coined the term “white gold” for oats amidst the mania for alternative milk products

In September 2020, oat milk was crowned #2 plant-based dairy alternative in the world.

In February 2020, many experts warned that the ever-expanding “oat bubble was about to burst” (Feb. 28, 2020 Bloomberg)

And, in June-July 2020, the star-studded line to board the Oatly bandwagon began to form with the likes of Oprah Winfrey and Blackstone Group.

Yet — as you can see on the chart of oat futures below, the consistent craze for oat products during this period did not materialize as soaring prices, but rather as a down-up-down holding pattern that didn’t end until late August 2020.

In late August, the soaring commercial demand for oat products didn’t change; however, the slacking trend in oat prices did — from down to way UP! The question is, was there a way to anticipate the latter?

Yes. In our September 11, 2020 Daily Commodity Junctures, we presented the oat chart below, which identified the August low as the end of a three-wave correction and start of a strong advance:

From there, oat prices soared into the $3/bushel level. In the December 4 Daily Commodity Junctures, we revisited the grain to address its upside potential. Our chart extended its up arrow into the $3.75 levels of 2014, seen here:

And from there, oat futures rallied to the upside target projected by Daily Commodity Junctures some two months earlier.

At the end of the day, there will always be a perfect reason in the news to explain market action — after the fact. For traders and investor, however, the goal is to arrive at those turns in advance.

Here, our Commodity Junctures Service keeps you in front of high-confident setups in the world’s leading markets in grain, livestock, meat, softs, and more. See below to read the latest forecasts now.

 

Commodity Opportunities Abound: We’ll Drink to That

Whether you like oat milk or not, everyone likes the taste of anticipating market turns — before they become front page news!

FREE REPORT: Want to discover more about Elliott waves?

You’re in luck: For a limited time, we are offering “Learn How the Wave Principle Can Improve Your Trading” free (a $39 value).

Here’s how to read it instantly, right now.

Get the Free Report Now

This article was syndicated by Elliott Wave International and was originally published under the headline Oat Prices AND the Truth Behind the “White Gold” Rush. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

COT Soft Commodities Futures Charts: Sugar, Coffee, Corn, Soybeans, Wheat, Cattle & Hogs

By CountingPips.comReceive our weekly COT Reports by Email

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 March 02 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.


CORN:

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 32.1 47.2 8.4
– Percent of Open Interest Shorts: 4.1 73.7 9.9
– Net Position: 503,765 -476,208 -27,557
– Gross Longs: 578,046 848,786 151,278
– Gross Shorts: 74,281 1,324,994 178,835
– Long to Short Ratio: 7.8 to 1 0.6 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 94.4 4.1 31.7
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -3.2 1.8 6.4

 


SUGAR:

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.8 49.3 10.8
– Percent of Open Interest Shorts: 4.7 78.5 3.7
– Net Position: 223,020 -294,206 71,186
– Gross Longs: 270,821 497,725 109,000
– Gross Shorts: 47,801 791,931 37,814
– Long to Short Ratio: 5.7 to 1 0.6 to 1 2.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 82.4 12.4 95.9
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -7.1 5.1 9.7

 


COFFEE:

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.9 44.4 4.6
– Percent of Open Interest Shorts: 6.8 69.9 2.2
– Net Position: 61,250 -67,695 6,445
– Gross Longs: 79,433 117,785 12,209
– Gross Shorts: 18,183 185,480 5,764
– Long to Short Ratio: 4.4 to 1 0.6 to 1 2.1 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 96.9 2.1 33.0
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 11.1 -12.0 4.8

 


SOYBEANS:

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.9 46.4 7.6
– Percent of Open Interest Shorts: 4.6 71.6 8.8
– Net Position: 223,662 -213,678 -9,984
– Gross Longs: 262,350 393,930 64,523
– Gross Shorts: 38,688 607,608 74,507
– Long to Short Ratio: 6.8 to 1 0.6 to 1 0.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 85.6 15.5 69.1
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -0.7 2.7 -9.5

 


SOYBEAN OIL:

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.9 42.1 9.6
– Percent of Open Interest Shorts: 4.9 72.5 5.2
– Net Position: 123,987 -144,883 20,896
– Gross Longs: 147,156 199,989 45,548
– Gross Shorts: 23,169 344,872 24,652
– Long to Short Ratio: 6.4 to 1 0.6 to 1 1.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 91.9 6.5 94.1
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 4.2 -4.6 5.5

 


SOYBEAN MEAL:

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.3 46.7 12.7
– Percent of Open Interest Shorts: 3.7 76.4 6.6
– Net Position: 95,205 -119,728 24,523
– Gross Longs: 110,057 188,094 50,971
– Gross Shorts: 14,852 307,822 26,448
– Long to Short Ratio: 7.4 to 1 0.6 to 1 1.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 66.7 30.1 68.9
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -3.7 5.4 -15.3

 


LIVE CATTLE:

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 37.1 36.1 8.7
– Percent of Open Interest Shorts: 12.1 57.9 12.0
– Net Position: 83,632 -72,809 -10,823
– Gross Longs: 124,188 120,872 29,257
– Gross Shorts: 40,556 193,681 40,080
– Long to Short Ratio: 3.1 to 1 0.6 to 1 0.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 47.0 46.7 60.7
– COT Index Reading (3 Year Range): Bearish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 21.0 -25.8 -0.7

 


LEAN HOGS:

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 40.9 30.3 8.2
– Percent of Open Interest Shorts: 12.6 54.9 11.9
– Net Position: 74,565 -64,720 -9,845
– Gross Longs: 107,719 79,999 21,555
– Gross Shorts: 33,154 144,719 31,400
– Long to Short Ratio: 3.2 to 1 0.6 to 1 0.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 100.0 6.8 33.2
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 38.7 -37.8 9.5

 


COTTON:

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 41.7 38.5 7.4
– Percent of Open Interest Shorts: 3.6 81.5 2.6
– Net Position: 91,575 -103,216 11,641
– Gross Longs: 100,222 92,544 17,770
– Gross Shorts: 8,647 195,760 6,129
– Long to Short Ratio: 11.6 to 1 0.5 to 1 2.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 78.5 20.3 80.6
– COT Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 7.5 -6.5 -4.3

 


COCOA:

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 36.1 38.2 6.6
– Percent of Open Interest Shorts: 17.5 60.7 2.7
– Net Position: 38,378 -46,423 8,045
– Gross Longs: 74,545 78,896 13,669
– Gross Shorts: 36,167 125,319 5,624
– Long to Short Ratio: 2.1 to 1 0.6 to 1 2.4 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 58.3 37.4 100.0
– COT Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 2.6 -4.1 19.3

 


WHEAT:

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.9 37.1 7.8
– Percent of Open Interest Shorts: 23.8 41.1 10.9
– Net Position: 29,931 -16,808 -13,123
– Gross Longs: 129,502 155,541 32,463
– Gross Shorts: 99,571 172,349 45,586
– Long to Short Ratio: 1.3 to 1 0.9 to 1 0.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 60.1 43.8 38.9
– COT Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -6.4 9.0 -15.4

 


Article By CountingPips.comReceive 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).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

COT Soft Commodities Futures Charts: Corn, Soybeans, Wheat, Cattle, Hogs, Sugar, Coffee

By CountingPips.comReceive our weekly COT Reports by Email

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 February 23 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.


CORN:

CORN

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.4 45.3 8.3
– Percent of Open Interest Shorts: 4.0 71.1 10.0
– Net Position: 529,834 -497,804 -32,030
– Gross Longs: 606,483 872,738 160,523
– Gross Shorts: 76,649 1,370,542 192,553
– Long to Short Ratio: 7.9 to 1 0.6 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 97.7 1.0 29.3
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.6 -0.0 6.8

 


SUGAR:

SUGAR

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.5 50.4 10.7
– Percent of Open Interest Shorts: 4.2 79.7 3.7
– Net Position: 237,936 -312,478 74,542
– Gross Longs: 282,375 536,776 113,782
– Gross Shorts: 44,439 849,254 39,240
– Long to Short Ratio: 6.4 to 1 0.6 to 1 2.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 85.5 8.9 100.0
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -3.1 1.7 7.8

 


COFFEE:

COFFEE

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.3 46.7 4.8
– Percent of Open Interest Shorts: 6.5 71.8 2.5
– Net Position: 59,458 -65,348 5,890
– Gross Longs: 76,303 121,859 12,539
– Gross Shorts: 16,845 187,207 6,649
– Long to Short Ratio: 4.5 to 1 0.7 to 1 1.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 95.8 3.6 29.1
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 15.2 -15.8 -1.0

 


SOYBEANS:

SOYBEANS

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.2 45.2 8.2
– Percent of Open Interest Shorts: 4.2 70.6 9.6
– Net Position: 239,808 -226,747 -13,061
– Gross Longs: 277,284 401,862 72,530
– Gross Shorts: 37,476 628,609 85,591
– Long to Short Ratio: 7.4 to 1 0.6 to 1 0.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 89.6 12.5 65.6
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 2.2 0.0 -10.5

 


SOYBEAN OIL:

SOYBEAN OIL

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 30.8 41.3 9.4
– Percent of Open Interest Shorts: 4.3 72.0 5.2
– Net Position: 129,138 -149,736 20,598
– Gross Longs: 150,378 201,964 45,780
– Gross Shorts: 21,240 351,700 25,182
– Long to Short Ratio: 7.1 to 1 0.6 to 1 1.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 94.3 4.4 93.0
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 4.6 -4.3 -0.4

 


SOYBEAN MEAL:

SOYBEAN MEAL

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.4 46.6 13.1
– Percent of Open Interest Shorts: 3.3 77.0 6.9
– Net Position: 98,800 -124,520 25,720
– Gross Longs: 112,186 190,568 53,792
– Gross Shorts: 13,386 315,088 28,072
– Long to Short Ratio: 8.4 to 1 0.6 to 1 1.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 68.3 27.9 73.7
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -6.9 7.0 -1.4

 


LIVE CATTLE:

LIVE CATTLE

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 38.7 36.2 8.6
– Percent of Open Interest Shorts: 12.0 59.2 12.2
– Net Position: 89,507 -77,143 -12,364
– Gross Longs: 129,826 121,520 28,737
– Gross Shorts: 40,319 198,663 41,101
– Long to Short Ratio: 3.2 to 1 0.6 to 1 0.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 50.8 43.3 57.0
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 24.4 -28.2 -6.0

 


LEAN HOGS:

LEAN HOGS

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 40.8 30.3 8.1
– Percent of Open Interest Shorts: 13.3 53.4 12.6
– Net Position: 70,880 -59,498 -11,382
– Gross Longs: 105,123 78,259 20,990
– Gross Shorts: 34,243 137,757 32,372
– Long to Short Ratio: 3.1 to 1 0.6 to 1 0.6 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 98.9 11.6 26.2
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 34.1 -30.0 -3.8

 


COTTON:

COTTON

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 42.6 38.0 7.6
– Percent of Open Interest Shorts: 3.7 82.0 2.4
– Net Position: 97,028 -110,055 13,027
– Gross Longs: 106,372 94,880 19,053
– Gross Shorts: 9,344 204,935 6,026
– Long to Short Ratio: 11.4 to 1 0.5 to 1 3.2 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 81.8 16.5 88.6
– COT Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 9.3 -9.1 5.4

 


COCOA:

COCOA

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 31.6 41.9 6.0
– Percent of Open Interest Shorts: 19.3 58.0 2.2
– Net Position: 25,602 -33,558 7,956
– Gross Longs: 65,841 87,434 12,594
– Gross Shorts: 40,239 120,992 4,638
– Long to Short Ratio: 1.6 to 1 0.7 to 1 2.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 46.7 48.9 100.0
– COT Index Reading (3 Year Range): Bearish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -9.1 7.3 20.8

 


WHEAT:

WHEAT

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.8 37.3 8.3
– Percent of Open Interest Shorts: 23.5 40.8 11.1
– Net Position: 27,398 -15,455 -11,943
– Gross Longs: 128,491 160,470 35,736
– Gross Shorts: 101,093 175,925 47,679
– Long to Short Ratio: 1.3 to 1 0.9 to 1 0.7 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 58.3 44.7 44.5
– COT Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -2.4 2.6 -0.9

 


Article By CountingPips.comReceive 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).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

Surging Agricultural Prices, $17 Trillion and Phosphate

Source: Brian Ostroff for Streetwise Reports   11/23/2020

Brian Ostroff, managing director at Windermere Capital and CEO of Arianne Phosphate, discusses the recent rise in agricultural commodity prices and their spillover into fertilizers.

Wheat

Most investors don’t watch niche sectors of the markets until they start moving considerably higher; it’s just the way it is. Granted, everyone always keeps an eye on market indexes (S&P, Dow Jones, Nasdaq, etc.), bond yields, currencies and the sexier commodities. The thing is, my experience has told me that “sexy” usually changes over time and really just means “hot.” One need only look at commodities like lithium, cobalt and other EV metals to understand this; they are sexy, they have become hot, investors know their pricing and, investors are plugged into (pun intended) how to invest and [hopefully] profit from their growth in popularity. Then, as these trends continue and mature, along comes all the logical after the fact reasons to be involved in the sector. Back to the battery metals, Tesla, EVs, electrification of our lives, etc., this all makes sense, but my belief is that this is usually tail-wags-the dog.

The reasons for a sector to get hot are always there ahead of time but they usually only make it to the mainstream investment community after there has been a significant move in price. Then, along with price movement, comes “knowledge” of the sector, greater opportunity to invest in the sector, FOMO and, in some cases, outright mania. Anyone thinking cannabis?

Gold today is knocking on $2,000/oz and is attracting significant investor attention. Mainstream banks now suggest owning it as it has a place in most well-balanced portfolios. Bank of America, six months ago, made a $3,000/oz. call on gold for many reasons I agree with. In fact, for those who talk with me regularly know, I made the comment that “gold was probably going to infinity” although I suspect it might not ultimately reach my target price. It is a funny thing though, some letter writer calls for $3,000 gold he is a “nut-job,” but when the mainstream does, it becomes understandable and likely.

There are many reasons why gold should continue to move higher but a big money-dump by central banks around the world and its ultimate devaluation of paper currency seems to be a favorite. Another factor I have cited many times is also negative yields. An argument against gold by large investors had been that gold carries no yield and thus, there was an opportunity cost weighing against it. Well, we recently hit a new all-time record with over $17 TRILLION in bonds trading at a negative yield. I guess gold doesn’t look so bad!

As an aside, has anyone been watching the crypto space? Remember how “insane” it was for bitcoin to trade at $20,000 in late 2017 while “crashing” to $3,000 by the end of 2018 made perfect sense? Well, don’t look now but it is back up over $15,000 and in striking distance of all-time highs. I think many of the arguments that can be made for gold can be made for crypto, yet it is better geared for the younger generation. My view: this sector will continue to gain understanding and acceptance among investors and opportunities in the space will grow. Yes, a whole lot of people are going to know a heck of a lot more about crypto and, yes, banks will figure out how to cater to that demand through issuances of new companies and products. Crypto could well be the next mania in the coming years.

AGRICULTURAL COMMODITIES

As I had said: most investors don’t watch niche sectors until they start moving considerably higher. I am not sure how much a commodity/sector has to gain before investors really start to look. A sector that could be setting up for a whole lot of investor interest is right under your nose…..actually, to be more exact, under your chin at least three times a day. It is food along with everything involved in the production of food.

As an investor in the agricultural space and the CEO of a developing phosphate company, I watch fertilizer and grain prices closely, but I suspect most investors do not. I also believe that most do not realize just how much these prices are up and perhaps we are even starting to approach levels where investors should start to take notice (early innings of a long ballgame)?

Over the last 8 months, grain prices have caught fire (see charts below). It has been six years since wheat has been this high and four years since soybeans have been at these levels. Even sleepy corn is over $4/bushel, a level only seen a few times in the last six years and, well above its 200-week moving average of $3.70. You may have begun to see these increases on your recent trips to your local supermarket or farm stand, but if you haven’t, you will soon!

So why the increase? Unlike many commodities, food is impossible to live without. I can live without a Tesla or other electric vehicle. I would like to be more environmentally conscious and not use fossil fuels. I believe currencies will devalue and gold and/or crypto make a lot of sense. This is true down the list; there are things I would like but few that I need. I need food. As I always say, “I get it, gold is sexy, electric metals are sexy, oil is sexy [or at least closely watched], but I can’t eat gold and I can’t drink oil so it’s actually fertilizer/food that really matters.”

COVID-19 has also left a mark. Just in time delivery works very well and is very profitable when things arrive “just in time.” Suddenly, however, when migrant workers can’t cross the border to pick produce, truck drivers get sick and slaughterhouses close down due to outbreaks, my supermarket suffers from “not-in-time.” There was also growing food nationalism with many countries refusing to ship grains and food products, and this has left many to reconsider the food chain, with security of supply now an issue and higher prices required to fix it.

Lastly, I would argue that the global “money dump” that is pushing gold, crypto and many other commodities is making its way into the food commodities. There have been many studies that have shown that the agricultural commodities follow the precious metals [with a lag] and I suspect that we are still early days in this move. The last time gold was pushing $2,000 (end of 2011), grain prices were 50–100% higher depending on the grain. Prices for food, relative to many other not-as-necessary commodities, is cheap and most likely headed a lot higher. Judging by the charts, some investors are starting to catch on and maybe we will get to that tipping point when the sector starts to mainstream.

FERTILIZER

So, if investors don’t pay much attention to grain/food prices these days, imagine how few actually look at fertilizer prices. For almost 10 years phosphate fertilizer prices have been in a downtrend but in just the last four or five months prices have started to rise dramatically. DAP prices (a common phosphate fertilizer) have risen 35–40% in the last few months and over 55% since its lows of a year ago. Again, what is the tipping point for investors to take note and act?

I won’t get into a whole lot of detail on the phosphate macro at this time but, if you are interested enough, I can forward something more in-depth.

I will say this, phosphate is:

  • one of the three macro nutrients in fertilizer (potash and nitrogen are the others)
  • most of the world (North & South America, Western Europe, significant parts of Asia) runs a deficit
  • this deficit is supplied from the Middle East and North Africa (this amount growing substantially)
  • security of supply is a definite concern
  • demand grows every year (good economic times or bad)
  • fertilizer is required to maintain/increase crop yields

The bottom line is if you want to eat, you need fertilizer; it is not a convenience, it is a necessity! As countries address their food insecurities, fertilizer is the first step and we are seeing countries such as India (already the world’s largest importer), China and even here in North America start to address this. Also, since farmers can now sell their grains for higher prices, they can spend more on fertilizer and with stronger grain prices, farmers also look to increase planting acreage thus stimulating more fertilizer demand. Prices have started to rise and many industry analysts believe that price increases will continue.

For the few that have started to see this trend emerging along with the assumption that it is early days, there has been some increased interest in areas of agriculture. Farm equipment manufacturers, seed companies, farming companies and, to a limited amount, fertilizer companies have all seen improvement in their share prices. The Van Eck Agribusiness ETF today sits at a 52-week high as investors look to get some exposure, but we are a long way from a general market awareness or understanding of what is starting to happen, never mind the resulting potential surge in prices. Again, at what point do we get enough investor interest to turn a niche into a trend, and growing investor awareness into FOMO?

Arianne Phosphate Inc. (DAN:TSX.V; DRRSF:OTCBB; JE9N:FSE)

Over the last 10 years, Arianne has moved its Lac à Paul asset from a patch of dirt to a best-of-class phosphate deposit. Today, it is the world’s largest greenfield deposit, capable of making one of the world’s purest, low contaminant concentrates that commands premium prices. It is situated in Quebec, Canada, where it is not subject to any of the “security of supply” issues found with most phosphate supply. It has access to necessary infrastructure and has its permits in place. It is projected to be one of the world’s lowest cash-cost providers of phosphate concentrate per nutrient value that, even at today’s low prices, would be extremely profitable operationally. Arianne sits atop a “best of breed” asset at a time when things are starting to improve.

Arianne also had bad luck. While the company has continued to advance its project from dirt patch to a shovel-ready project, the macro has deteriorated to a point where fewer investors look at the sector and certainly don’t look at a micro-cap phosphate developer. In fact, today, Arianne’s stock sits at the same price that it sat at 10 years ago when the project began. At the time, the company had no idea what it was sitting on, let alone, how much, how good, how profitable and whether it could get permits. Today we know all of this, there is no uncertainty and yet here we are. If Arianne did not exist and some other company/prospector stumbled on to this land, it would take them five years (going full speed ahead) and well over $100 million to get to where Arianne is today.

Arianne currently has a sub $20 million CAD market cap; the share price has round-tripped over 10 years despite all its advancements. I am not even entirely sure how this valuation is even possible. The company, back in 2012 when fertilizer prices were a lot higher and there was greater investor interest, had a share price that was almost 20 times higher. The company had not advanced many milestones at that time, but the sector was good, and investors watched and cared. It is hard to argue that Arianne had anywhere near the worth back then as it does today yet, here we are. Today you can buy it for little more than the price you would pay for a dormant shell.

In all my years of investing, I have come to realize [unfortunately] that most investors look at things the same way. Investors will only look at a sector when it “wakes up,” and they almost always judge a company by its share price. If a share price is low then the company isn’t advancing or so the logic goes. In reality, investors should judge a share price by the company’s performance. Money is made by looking to see if a company is advancing and its shares are lagging. I would strongly argue that this is the case for Arianne.

The world’s central banks have embarked on a path of no return: print or die. The result will be much higher prices for some commodities, and we are starting to see that today. It is the same old, same old. Central banks inflate, cause asset bubbles, create manias around those assets and drive investments into those sectors. You probably had not noticed the degree to which we have started to see the move in agricultural prices, so consider this your warning.

What is the tipping point where investment niche goes mainstream and starts to get attention and reason to own? I think we are there but, I do look a little closer than most. I can tell you that like all other themes, when they emerge, they last for a while and the first movers get the bulk of the attention and price gains. There aren’t too many ways of getting a pure play phosphate investment, especially one this advanced and leveraged to the price of phosphate and especially not at these valuations.

It bears repeating, this is my view and my reading of the tea leaves. Ag prices are up and, Arianne “should” follow. I am biased, I own the name, I am a board member and CEO. I am not sure how you find something like this for $20 million or even $50 million at the beginning of a cycle but, that’s me. You can lament about the share price of Arianne or you can capitalize on it; the choice is yours.

Brian Ostroff is a managing director at Windermere Capital, where he focuses on the junior and mid-tier mining sectors. He also serves as CEO of Arianne Phosphate. He brings over 25 years of small-cap mining expertise to the table, having served at RBC Dominion Securities and as a managing partner at Goodrich Capital, an M&A advisory firm.

 

Disclosure:
1) Brian Ostroff: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: Arianne Resources. Brian Ostroff serves as CEO of Arianne Resources.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Farmers are depleting the Ogallala Aquifer because the government pays them to do it

By Matthew R Sanderson, Kansas State University; Burke Griggs, Washburn University, and Jacob A. Miller, Kansas State University 

– A slow-moving crisis threatens the U.S. Central Plains, which grow a quarter of the nation’s crops. Underground, the region’s lifeblood – water – is disappearing, placing one of the world’s major food-producing regions at risk.

The Ogallala-High Plains Aquifer is one of the world’s largest groundwater sources, extending from South Dakota down through the Texas Panhandle across portions of eight states. Its water supports US$35 billion in crop production each year.

A center-pivot sprinkler with precision application drop nozzles irrigates cotton in Texas.
USDA NRCS/Wikipedia

But farmers are pulling water out of the Ogallala faster than rain and snow can recharge it. Between 1900 and 2008 they drained some 89 trillion gallons from the aquifer – equivalent to two-thirds of Lake Erie. Depletion is threatening drinking water supplies and undermining local communities already struggling with the COVID-19 pandemic, the opioid crisis, hospital closures, soaring farm losses and rising suicide rates.

Map showing changing Ogallala Aquifer water levels over the past century
Changes in Ogallala water levels from before the aquifer was tapped in the early 20th century to 2015. Gray indicates no significant change. Water levels have risen in some areas, especially Nebraska, but are mostly in decline.
NCA 2018

In Kansas, “Day Zero” – the day wells run dry – has arrived for about 30% of the aquifer. Within 50 years, the entire aquifer is expected be 70% depleted.

Some observers blame this situation on periodic drought. Others point to farmers, since irrigation accounts for 90% of Ogallala groundwater withdrawals. But our research, which focuses on social and legal aspects of water use in agricultural communities, shows that farmers are draining the Ogallala because state and federal policies encourage them to do it.

A production treadmill

At first glance, farmers on the Plains appear to be doing well in 2020. Crop production increased this year. Corn, the largest crop in the U.S., had a near-record year, and farm incomes increased by 5.7% over 2019.

But those figures hide massive government payments to farmers. Federal subsidies increased by a remarkable 65% this year, totaling $37.2 billion. This sum includes money for lost exports from escalating trade wars, as well as COVID-19-related relief payments. Corn prices were too low to cover the cost of growing it this year, with federal subsidies making up the difference.

Our research finds that subsidies put farmers on a treadmill, working harder to produce more while draining the resource that supports their livelihood. Government payments create a vicious cycle of overproduction that intensifies water use. Subsidies encourage farmers to expand and buy expensive equipment to irrigate larger areas.

Irrigation pump in field
Irrigation pump in Haskell County, Kansas.
Matthew Sanderson/Kansas State University, CC BY-ND

With low market prices for many crops, production does not cover expenses on most farms. To stay afloat, many farmers buy or lease more acres. Growing larger amounts floods the market, further reducing crop prices and farm incomes. Subsidies support this cycle.

Few benefit, especially small and midsized operations. In a 2019 study of the region’s 234 counties from 1980 to 2010, we found that larger irrigated acreage failed to increase incomes or improve education or health outcomes for residents.

Focus on policy, not farmers

Four decades of federal, state and local conservation efforts have mainly targeted individual farmers, providing ways for them to voluntarily reduce water use or adopt more water-efficient technologies.

While these initiatives are important, they haven’t stemmed the aquifer’s decline. In our view, what the Ogallala Aquifer region really needs is policy change.

A lot can be done at the federal level, but the first principle should be “do no harm.” Whenever federal agencies have tried to regulate groundwater, the backlash has been swift and intense, with farm states’ congressional representatives repudiating federal jurisdiction over groundwater.

Nor should Congress propose to eliminate agricultural subsidies, as some environmental organizations and free-market advocates have proposed. Given the thin margins of farming and longstanding political realities, federal support is simply part of modern production agriculture.

With these cautions in mind, three initiatives could help ease pressure on farmers to keep expanding production. The U.S. Department of Agriculture’s Conservation Reserve Program pays farmers to allow environmentally sensitive farmland to lie fallow for at least 10 years. With new provisions, the program could reduce water use by prohibiting expansion of irrigated acreage, permanently retiring marginal lands and linking subsidies to production of less water-intensive crops.

These initiatives could be implemented through the federal farm bill, which also sets funding levels for nonfarm subsidies such as the Supplemental Nutrition Assistance Program, or SNAP. SNAP payments, which increase needy families’ food budgets, are an important tool for addressing poverty. Increasing these payments and adding financial assistance to local communities could offset lower tax revenues that result from from farming less acreage.

A 40-year sequence of false-color satellite images shows the spread of center-pivot irrigation around Dalhart, Texas from 1972 to 2011. The equipment creates circular patterns as a sprinkler rotates around a well pivot.

Amending federal farm credit rates could also slow the treadmill. Generous terms promote borrowing for irrigation equipment; to pay that debt, borrowers farm more land. Offering lower rates for equipment that reduces water use and withholding loans for standard, wasteful equipment could nudge farmers toward conservation.

The most powerful tool is the tax code. Currently, farmers receive deductions for declining groundwater levels and can write off depreciation on irrigation equipment. Replacing these perks with a tax credit for stabilizing groundwater and substituting a depreciation schedule favoring more efficient irrigation equipment could provide strong incentives to conserve water.

Rewriting state water laws

Water rights are mostly determined by state law, so reforming state water policies is crucial. Case law demonstrates that simply owning water rights does not grant the legal right to waste water. For more than a century courts have upheld state restrictions on waste, with rulings that allow for adaptation by modifying the definitions of “beneficial use” and “waste” over time.

Using these precedents, state water agencies could designate thirsty crops, such as rice, cotton or corn, as wasteful in certain regions. Regulations preventing unreasonable water use are not unconstitutional.

[Deep knowledge, daily. Sign up for The Conversation’s newsletter.]

Allowing farmers some flexibility will maximize profits, as long as they stabilize overall water use. If they irrigate less – or not at all – in years with low market prices, rules could allow more irrigation in better years. Ultimately, many farmers – and their bankers – are willing to exchange lower annual yields for a longer water supply.

As our research has shown, the vast majority of farmers in the region want to save groundwater. They will need help from policymakers to do it. Forty years is long enough to learn that the Ogallala Aquifer’s decline is not driven by weather or by individual farmers’ preferences. Depletion is a structural problem embedded in agricultural policies. Groundwater depletion is a policy choice made by federal, state and local officials.

About the Author:

Stephen Lauer and Vivian Aranda-Hughes, former doctoral students at Kansas State University, contributed to several of the studies cited in this article.The Conversation

Matthew R Sanderson, Professor of Sociology and Professor of Geography and Geospatial Sciences, Kansas State University; Burke Griggs, Associate Professor of Law, Washburn University, and Jacob A. Miller, PhD Student in Sociology, Kansas State University

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