Select Page

By InvestMacro

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

The latest COT data is updated through Tuesday October 15th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes led by Lean Hogs & Live Cattle

Soft Commodities Speculator Net Position Changes 1

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

Leading the gains for the softs markets was Lean Hogs (7,337 contracts) with Live Cattle (6,658 contracts), Coffee (4,235 contracts), Cocoa (3,376 contracts), Sugar (2,387 contracts) and Cotton (999 contracts) also recording positive weeks.

The markets with declines in speculator bets were Corn (-41,223 contracts), Soybean Meal (-37,962 contracts), Soybeans (-14,193 contracts), Soybean Oil (-7,454 contracts) and with Wheat (-216 contracts) also seeing lower bets on the week.


Soft Commodities Net Speculators Leaderboard

softs Leaders 1

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


Strength Scores led by Coffee & Lean Hogs

Soft Commodities Speculator Strength Scores 1

COT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that Coffee (91 percent) and Lean Hogs (74 percent) lead the softs markets this week. Soybean Oil (70 percent), Wheat (60 percent) and Live Cattle (56 percent) come in as the next highest in the weekly strength scores.

On the downside, Cotton (23 percent) and Soybeans (31 percent) come in at the lowest strength levels currently.

Strength Statistics:
Corn (33.2 percent) vs Corn previous week (38.5 percent)
Sugar (38.6 percent) vs Sugar previous week (37.8 percent)
Coffee (91.1 percent) vs Coffee previous week (87.0 percent)
Soybeans (31.1 percent) vs Soybeans previous week (34.5 percent)
Soybean Oil (70.4 percent) vs Soybean Oil previous week (74.4 percent)
Soybean Meal (52.8 percent) vs Soybean Meal previous week (68.4 percent)
Live Cattle (56.0 percent) vs Live Cattle previous week (48.8 percent)
Lean Hogs (74.2 percent) vs Lean Hogs previous week (67.1 percent)
Cotton (22.9 percent) vs Cotton previous week (22.3 percent)
Cocoa (54.1 percent) vs Cocoa previous week (50.7 percent)
Wheat (60.2 percent) vs Wheat previous week (60.4 percent)


Lean Hogs & Live Cattle top the 6-Week Strength Trends

Soft Commodities Strength Score Trends 6 Week 1

COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Lean Hogs (47 percent) and Live Cattle (44 percent) lead the past six weeks trends for soft commodities. Soybean Oil (33 percent), Soybeans (23 percent) and Cotton (18 percent) are the next highest positive movers in the latest trends data.

There are no markets with negative or lower trend scores this week.

Strength Trend Statistics:
Corn (10.9 percent) vs Corn previous week (23.5 percent)
Sugar (11.5 percent) vs Sugar previous week (19.5 percent)
Coffee (2.9 percent) vs Coffee previous week (-4.1 percent)
Soybeans (22.8 percent) vs Soybeans previous week (31.4 percent)
Soybean Oil (33.4 percent) vs Soybean Oil previous week (49.3 percent)
Soybean Meal (13.5 percent) vs Soybean Meal previous week (34.0 percent)
Live Cattle (44.3 percent) vs Live Cattle previous week (33.4 percent)
Lean Hogs (46.8 percent) vs Lean Hogs previous week (43.6 percent)
Cotton (17.8 percent) vs Cotton previous week (16.5 percent)
Cocoa (11.6 percent) vs Cocoa previous week (9.9 percent)
Wheat (10.1 percent) vs Wheat previous week (13.8 percent)


Individual Soft Commodities Markets:

CORN Futures:

CORN Futures COT ChartThe CORN large speculator standing this week equaled a net position of -5,152 contracts in the data reported through Tuesday. This was a weekly fall of -41,223 contracts from the previous week which had a total of 36,071 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 33.2 percent. The commercials are Bullish with a score of 69.9 percent and the small traders (not shown in chart) are Bearish with a score of 40.0 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend.

CORN Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 21.4 46.4 8.4
– Percent of Open Interest Shorts: 21.8 42.8 11.6
– Net Position: -5,152 56,118 -50,966
– Gross Longs: 333,139 721,807 130,045
– Gross Shorts: 338,291 665,689 181,011
– Long to Short Ratio: 1.0 to 1 1.1 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 33.2 69.9 40.0
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 10.9 -8.9 -24.6

 


SUGAR Futures:

SUGAR Futures COT ChartThe SUGAR large speculator standing this week equaled a net position of 105,473 contracts in the data reported through Tuesday. This was a weekly gain of 2,387 contracts from the previous week which had a total of 103,086 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 38.6 percent. The commercials are Bullish with a score of 54.7 percent and the small traders (not shown in chart) are Bullish with a score of 71.5 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend.

SUGAR Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.7 46.9 10.4
– Percent of Open Interest Shorts: 15.8 64.8 5.5
– Net Position: 105,473 -145,332 39,859
– Gross Longs: 233,674 382,060 84,478
– Gross Shorts: 128,201 527,392 44,619
– Long to Short Ratio: 1.8 to 1 0.7 to 1 1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 38.6 54.7 71.5
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 11.5 -19.1 44.0

 


COFFEE Futures:

COFFEE Futures COT ChartThe COFFEE large speculator standing this week equaled a net position of 66,950 contracts in the data reported through Tuesday. This was a weekly increase of 4,235 contracts from the previous week which had a total of 62,715 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 91.1 percent. The commercials are Bearish-Extreme with a score of 8.4 percent and the small traders (not shown in chart) are Bullish with a score of 66.4 percent.

Price Trend-Following Model: Uptrend

Our weekly trend-following model classifies the current market price position as: Uptrend.

COFFEE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 36.9 39.4 3.9
– Percent of Open Interest Shorts: 5.8 72.1 2.4
– Net Position: 66,950 -70,175 3,225
– Gross Longs: 79,366 84,833 8,415
– Gross Shorts: 12,416 155,008 5,190
– Long to Short Ratio: 6.4 to 1 0.5 to 1 1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 91.1 8.4 66.4
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 2.9 -3.3 6.1

 


SOYBEANS Futures:

SOYBEANS Futures COT ChartThe SOYBEANS large speculator standing this week equaled a net position of -65,379 contracts in the data reported through Tuesday. This was a weekly lowering of -14,193 contracts from the previous week which had a total of -51,186 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 31.1 percent. The commercials are Bullish with a score of 72.0 percent and the small traders (not shown in chart) are Bearish with a score of 37.4 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend.

SOYBEANS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 16.3 60.1 5.1
– Percent of Open Interest Shorts: 23.2 50.2 8.1
– Net Position: -65,379 94,150 -28,771
– Gross Longs: 154,755 569,890 48,476
– Gross Shorts: 220,134 475,740 77,247
– Long to Short Ratio: 0.7 to 1 1.2 to 1 0.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 31.1 72.0 37.4
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 22.8 -22.4 -16.2

 


SOYBEAN OIL Futures:

SOYBEAN OIL Futures COT ChartThe SOYBEAN OIL large speculator standing this week equaled a net position of 52,805 contracts in the data reported through Tuesday. This was a weekly lowering of -7,454 contracts from the previous week which had a total of 60,259 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 70.4 percent. The commercials are Bearish with a score of 34.4 percent and the small traders (not shown in chart) are Bearish with a score of 33.3 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend.

SOYBEAN OIL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 28.1 48.8 6.1
– Percent of Open Interest Shorts: 17.7 60.2 5.2
– Net Position: 52,805 -57,777 4,972
– Gross Longs: 142,778 247,437 31,176
– Gross Shorts: 89,973 305,214 26,204
– Long to Short Ratio: 1.6 to 1 0.8 to 1 1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 70.4 34.4 33.3
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 33.4 -31.9 13.9

 


SOYBEAN MEAL Futures:

SOYBEAN MEAL Futures COT ChartThe SOYBEAN MEAL large speculator standing this week equaled a net position of 61,885 contracts in the data reported through Tuesday. This was a weekly reduction of -37,962 contracts from the previous week which had a total of 99,847 net contracts.

This 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 52.8 percent. The commercials are Bearish with a score of 42.5 percent and the small traders (not shown in chart) are Bullish with a score of 77.0 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend.

SOYBEAN MEAL Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.1 42.5 9.6
– Percent of Open Interest Shorts: 15.1 58.2 4.9
– Net Position: 61,885 -88,822 26,937
– Gross Longs: 147,108 239,351 54,329
– Gross Shorts: 85,223 328,173 27,392
– Long to Short Ratio: 1.7 to 1 0.7 to 1 2.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 52.8 42.5 77.0
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 13.5 -15.1 23.9

 


LIVE CATTLE Futures:

LIVE CATTLE Futures COT ChartThe LIVE CATTLE large speculator standing this week equaled a net position of 71,418 contracts in the data reported through Tuesday. This was a weekly rise of 6,658 contracts from the previous week which had a total of 64,760 net contracts.

This 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 Bullish with a score of 62.1 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 0.0 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend.

LIVE CATTLE Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 41.7 34.2 7.3
– Percent of Open Interest Shorts: 19.7 49.3 14.2
– Net Position: 71,418 -49,211 -22,207
– Gross Longs: 135,289 110,888 23,845
– Gross Shorts: 63,871 160,099 46,052
– Long to Short Ratio: 2.1 to 1 0.7 to 1 0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 56.0 62.1 0.0
– Strength Index Reading (3 Year Range): Bullish Bullish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 44.3 -37.4 -42.5

 


LEAN HOGS Futures:

LEAN HOGS Futures COT ChartThe LEAN HOGS large speculator standing this week equaled a net position of 40,642 contracts in the data reported through Tuesday. This was a weekly gain of 7,337 contracts from the previous week which had a total of 33,305 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 74.2 percent. The commercials are Bearish with a score of 25.2 percent and the small traders (not shown in chart) are Bullish with a score of 50.4 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend.

LEAN HOGS Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 42.2 34.2 6.6
– Percent of Open Interest Shorts: 28.7 45.3 9.0
– Net Position: 40,642 -33,303 -7,339
– Gross Longs: 127,041 103,001 19,861
– Gross Shorts: 86,399 136,304 27,200
– Long to Short Ratio: 1.5 to 1 0.8 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 74.2 25.2 50.4
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 46.8 -50.4 -12.3

 


COTTON Futures:

COTTON Futures COT ChartThe COTTON large speculator standing this week equaled a net position of -10,642 contracts in the data reported through Tuesday. This was a weekly gain of 999 contracts from the previous week which had a total of -11,641 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 22.9 percent. The commercials are Bullish with a score of 77.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 19.3 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend.

COTTON Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.0 49.8 5.6
– Percent of Open Interest Shorts: 30.3 45.7 5.4
– Net Position: -10,642 10,163 479
– Gross Longs: 64,409 123,139 13,752
– Gross Shorts: 75,051 112,976 13,273
– Long to Short Ratio: 0.9 to 1 1.1 to 1 1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 22.9 77.2 19.3
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 17.8 -17.1 8.8

 


COCOA Futures:

COCOA Futures COT ChartThe COCOA large speculator standing this week equaled a net position of 43,312 contracts in the data reported through Tuesday. This was a weekly lift of 3,376 contracts from the previous week which had a total of 39,936 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 54.1 percent. The commercials are Bearish with a score of 42.4 percent and the small traders (not shown in chart) are Bullish with a score of 64.2 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend.

COCOA Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 40.5 33.9 7.6
– Percent of Open Interest Shorts: 10.1 68.6 3.3
– Net Position: 43,312 -49,419 6,107
– Gross Longs: 57,763 48,384 10,781
– Gross Shorts: 14,451 97,803 4,674
– Long to Short Ratio: 4.0 to 1 0.5 to 1 2.3 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 54.1 42.4 64.2
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 11.6 -11.0 -3.4

 


WHEAT Futures:

WHEAT Futures COT ChartThe WHEAT large speculator standing this week equaled a net position of -13,714 contracts in the data reported through Tuesday. This was a weekly decline of -216 contracts from the previous week which had a total of -13,498 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 Bullish with a score of 60.2 percent. The commercials are Bearish with a score of 39.0 percent and the small traders (not shown in chart) are Bearish with a score of 32.1 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend.

WHEAT Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 27.2 36.7 7.5
– Percent of Open Interest Shorts: 30.6 32.1 8.7
– Net Position: -13,714 18,433 -4,719
– Gross Longs: 108,406 146,209 30,075
– Gross Shorts: 122,120 127,776 34,794
– Long to Short Ratio: 0.9 to 1 1.1 to 1 0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 60.2 39.0 32.1
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 10.1 -11.4 5.1

 


Article By InvestMacroReceive our weekly COT Newsletter

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

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


investmacro cot newsletter

  • COT Soft Commodities Charts: Speculator bets led by Lean Hogs & Live Cattle Oct 19, 2024
  • PBoC launches new stimulus for the economy. Silver hits two-month high Oct 18, 2024
  • USDJPY Adjusts Amid Mixed Signals from Japan’s Economic Data Oct 18, 2024
  • Week Ahead: Tesla kicks off Big Tech earnings Oct 18, 2024
  • A strong Australian labor market report reinforced the RBA’s hawkish stance. Banks in Thailand and the Philippines cut interest rates Oct 17, 2024
  • Inflationary pressures continue to ease in the UK and New Zealand Oct 16, 2024
  • EUR/USD Continues Downward Amid Economic Uncertainties Oct 16, 2024
  • India is experiencing a surge in inflation. US stock indices are once again updating historical highs. Oct 15, 2024
  • Brent: Slumps on easing Middle East fears Oct 15, 2024
  • USD/JPY Faces Resistance Amid Geopolitical and Economic Uncertainties Oct 15, 2024
Share it on social networks