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The time frame for the current Commitments of Traders report is from Wednesday, March 11 through Tuesday, March 17.

Soybeans:

For the week, May soybeans gained 0.25 cents, July unchanged, November 2015 +3.00. The COT report revealed that managed money liquidated 4,281 contracts of their long positions and added 13,465 to their short positions. Commercial interests added 20,513 to their long positions and also added 17,067 to their short positions. As of the latest report, managed money is now short soybeans by a ratio of 1.18:1, which is a complete reversal from the previous week when they were long by 1.04:1. Two weeks ago, managed money was long by a ratio of 1.28:1.

The current ratio of 1.18:1 is the highest short ratio recorded during the course of the bear market in soybeans and takes out the previous high short ratio of 1.09:1 recorded during the February 10, 2015 COT report. The bearishness in the current report is a major contrast from the report of October 7, 2014 when managed money was long by a ratio of 1.24:1 and soybeans made their contract low during that COT reporting period.

Soybean meal: On March 16, May soybean meal generated a short-term sell signal, which reversed the short-term buy signal of February 19. May soybean meal remains on an intermediate term sell signal.

For the week, May soybean meal lost $3.00, July -1.80, December 2015 +20 cents. The COT report revealed that managed money liquidated 10,135 contracts of their long positions and added 3,354 to their short positions.Commercial interests added 4,348 contracts to their long positions and liquidated 15,018 of their short positions. As of the latest report, managed money is long soybean meal by a ratio of 1.26:1, which is down from the previous week of 1.60:1. Two weeks ago, managed money was long soybean meal by a ratio of 1.60:1.

The current ratio of 1.26:1 is the lowest recorded during the bear market, and is significantly below the ratio of 1.78:1 recorded during the COT reporting. October 7, 2014 when soybean meal made its contract low.

Soybean oil:

For the week, May soybean oil gained 19 points, July +20, December 2015 +27. The COT report revealed that managed money liquidated 6,080 contracts of their long positions and added 9,889 to their short positions.Commercial interests added 9,358 contracts to their long positions and liquidated 6,374 of their short positions. As of the latest report, managed money is long soybean oil by a ratio of 1.09:1, which is down from the previous week of 1.41:1 and down dramatically from the ratio of two weeks ago of 2.18:1.

Corn:

May corn gained 4.50 cents, July +4.75, December 2015 +4.50. The COT report revealed that managed money liquidated 11,919 contracts of their long positions and added a massive 66,005 contracts to their short positions. Commercial interests added 42,255 contracts to their long positions and liquidated 25,002 contracts of their short positions. As of the latest report, managed money is now short corn by a ratio of 1.34:1, which is a complete reversal from the previous week when they were long by a ratio of 1.08:1. Two weeks ago, managed money was long corn by a ratio of 1.20:1.

The short ratio recorded this week is the first time that managed money has been net short corn in a couple of years. Per the COT report of October 7, 2014, when corn made its contract lows, managed money was long corn by a ratio of 1.22:1.In summary, managed money is far more bearish on corn at current levels than they were when it was trading at contract lows.

Chicago wheat:

For the week, May Chicago wheat gained 28.00 cents, July +30.50, December 2015 +30.00. The COT report revealed that managed money added 2,238 contracts to their long positions and also added 1,908 to their short positions. Commercial interests liquidated 1,509 of their long positions and added 1,586 to their short positions. As of the latest report, managed money is short Chicago wheat by a ratio of 2.26:1, which is down slightly from the previous week of 2.32:1 (the high short ratio thus far), but up from the ratio of two weeks ago of 2.04:1.

Kansas City wheat: On March 20, May Kansas City wheat generated a short-term buy signal, but remains on an intermediate term sell signal.

For the week, May Kansas City wheat gained 30.25 cents, July +31.25, December 2015 +29.00. The COT report revealed that managed money liquidated 1,724 contracts of their long positions and also liquidated 730 of their short positions.Commercial interests liquidated 2 514 of their long positions and also liquidated 1 173 of their short positions. As of the latest report, managed money is long Kansas City wheat by a ratio of 1.13:1, which is down slightly from the previous week of 1.16:1, but up from the ratio of two weeks ago of 1.05:1.

Year to date, May soybean meal is the out performer with a loss of 4.96%, May corn -5.11, May soybean oil -5.16%, May soybeans -5.51%, May Kansas City wheat -9.82%, May Chicago wheat -10.85%.

Cotton:

For the week, May cotton gained 2.32 cents, July +2.21, December 2015 +1.47. The COT report revealed that managed money liquidated 3,302 contracts of their long positions and added 11,747 contracts to their short positions. Commercial interests added 1,021 to their long positions and liquidated 15,162 of their short positions.As of the latest report, managed money is long cotton by a ratio of 1.49:1, which is down substantially from the previously week of 2.26:1 and the ratio of two weeks ago a 3.30:1.

Sugar #11:

For the week, May sugar gained 2 points, July +5, October +8. The COT report revealed that managed money liquidated 7,081 of their long positions and also liquidated 7,452 of their short positions. Commercial interests added 18,691 to their long positions and also added 10,771 to their short positions. As of the latest report, managed money is short sugar by a ratio of 1.75:1, which is up slightly from the previous week of 1.72:1 and the ratio of two weeks ago of 1.70:1.

Coffee:

May coffee gained 13.55 cents, July +13.50, September +13.50. The COT report revealed that managed money liquidated 978 contracts of their long positions and added 1,064 to their short positions. Commercial interests added 3,458 contracts to their long positions and also added 1,385 to their short positions. As of the latest report, managed money is short coffee by ratio of 1.17:1, which is up from the previous week of 1.11:1 and the ratio of two weeks ago of 1.06:1.

The current COT report reveals that commercial interests are net short by 9,825 contracts, or a short ratio of 1.13:1. This week’s report showed for the first time the short ratio of commercials is below that of managed money (1.13 versus 1.17). Just one month ago per the COT of February 17 commercials were net short 33,366 contracts, or a short ratio of 1.56:1. During the past month the net short position by commercials has been reduced by 23,541 contracts. Only three and one half months ago, commercial interests were net short by 64,429 contracts, or a short ratio of 2.51:1 on December 2, 2014.”

Cocoa:

For the week, May cocoa lost $28.00, July -27.00, September -21.00. The COT report revealed that managed money liquidated 8,347 of their long positions and added 1,010 to their short positions. Commercial interests added 11,635 contracts to their long positions and liquidated 5,001 of their short positions. As of the latest report, managed money is long cocoa by a ratio of 3.16:1, which is down from the previous week of 3.92:1 and the ratio of two weeks ago at 3.33:1.

Year to date, May cotton is the out performer with a gain of 2.87%, May cocoa -3.53%, May sugar -15.01%, May coffee -15.33%.

Live cattle:

For the week, April live cattle gained 4.08 cents, June +5.20, August +4.48.The COT report revealed that managed money added 1,216 contracts to their long positions and liquidated 495 of their short positions. Commercial interests added 1,020 to their long positions and also added 797 to their short positions.As of the latest report, managed money is long live cattle by a ratio of 4.26:1, which is up from the previous week of 4.07:1 and the ratio two weeks ago of 3.87:1.

Lean hogs:

For the week, April lean hogs lost 3.65 cents, June -3.15, August -53 points. The COT report revealed that managed money added 2,229 contracts to their long positions and also added 2,436 to their short positions. Commercial interests added 692 to their long positions and liquidated 2,378 of their short positions. As of the latest report, managed money is long lean hogs by a ratio of 1.56:1, which is down from the previous week of 1.61:1 and the ratio of two weeks ago of 1.59:1.

Year to date, April live cattle is the out performer with a loss of 3.27%, June live cattle -3.28%, June lean hogs -19.33%, April lean hogs -29.46%.

WTI crude oil:

For the week, May WTI crude oil lost 49 cents, June -41, July -28.The COT report revealed that managed money added 13,430 contracts to their long positions and added 29,219 to their short positions. Commercial interests liquidated 539 contracts of their long positions and added 7,819 to short positions. As of the latest report, managed money is long WTI crude oil by a ratio of 1.85:1, which is down from the previous week of 2.14:1 and the ratio of two weeks ago of 2.21:1.

The current ratio of 1.85:1 is the lowest we could find going back to the September 3, 2013 COT report.

Heating oil:

For the week, April heating oil gained 2.13 cents, May +1.94, June +2.09. The COT report revealed that managed money liquidated 1,725 of their long positions and added 5,501 to their short positions. Commercial interests liquidated 2,073 of their long positions and also liquidated 11,149 of their short positions. As of the latest report, managed money is short heating oil by a ratio of 1.66:1, which is up from the previous week of 1.40:1 and the ratio of two weeks ago of 1.36:1.

Gasoline:

For the week, April gasoline gained 3.55 cents, May +3.63, June +3.36. The COT report revealed that managed money liquidated 4,904 of their long positions and also liquidated 583 of their short positions. Commercial interests added 7,116 contracts to their long positions and also added 4,901 to their short positions. As of the latest report, managed money is long gasoline by a ratio of 1.84:1, which is down from the previous week of 1.94:1 and the ratio of two weeks ago of 2.31:1.

Natural gas:

For the week, April natural gas gained 5.9 cents, May +4.7, June +4.8. The COT report revealed that managed money added 5,039 to their long positions and liquidated 18,120 contracts of their short positions. Commercial interests added 8,386 to their long positions and also added 12,254 to their short positions. As of the latest report, managed money is short natural gas by a ratio of 1.23:1, which is down from the previous week of 1.35:1 and the ratio of two weeks ago of 1.38:1.

Year to date, April gasoline is the out performer with a gain of 3.75%, April natural gas -3.19%, May Brent crude oil -4.22%, April heating oil -4.26%, April ethanol -4.55%, May WTI crude oil -15.50%.

Copper:

For the week, May copper gained 9.75 cents. The COT report revealed that managed money liquidated 294 contracts of their long positions and also liquidated 1,,795 of their short positions. Commercial interests liquidated 3,027 of their long positions and added 2,257 to their short positions. As of the latest report, managed money is long copper by a ratio of 1.10:1, which is up from the previous week of 1.06:1 and the ratio of two weeks ago of 1.03:1.

Palladium:

For the week, June palladium lost $9.60. The COT report revealed that managed money liquidated 1,145 of their long positions and added 638 to their short positions. Commercial interests added 295 contracts to their long positions and liquidated 1,074 of their short positions. As of the latest report, managed money is long palladium by a ratio of 7.30:1, which is down from the previous week of 10.17:1 and the ratio of two weeks ago of 8.50:1.

Platinum:

For the week, April platinum gained $26.00. The COT report revealed that managed money added 15 contracts to their long positions and also added 3,352 to their short positions. Commercial interests added 96 to their long positions and liquidated 265 of their short positions. As of the latest report, managed money is long platinum by a ratio of 1.53:1, which is down from the previous week of 1.80:1 and the ratio of two weeks ago of 1.91:1.

Gold:

For the week, April gold gained $32.20. The COT report revealed that managed money liquidated 9,185 of their long positions and added 20,264 contracts to their short positions. Commercial interests added 4,587 to their long positions and liquidated 4,052 of their short positions. As of the latest report, managed money is long gold by a ratio of 1.24:1, which is down substantially from the previous week of 1.83:1 and the ratio of two weeks ago of 2.72:1.

Silver:

For the week, May silver gained $1.389. The COT report revealed that managed money added 1,002 contracts to their long positions and also added 5,035 to their short positions. Commercial interests added 3,504 to their long positions and also added 977 contracts to their short positions. As of the latest report, managed money is long silver by a ratio of 1.36:1, which is down from the previous week of 1.59:1 and the ratio of two weeks ago 2.03:1.

Year to date, May silver is the out performer with a gain of 8.37%, April gold -0.20%, May copper -2.37%, June palladium -4.60%, April platinum -5.87%.

Canadian dollar:

For the week, the June Canadian dollar gained 1.39 cents. The COT report revealed that leverage funds added 931 contracts to their long positions and liquidated 7,039 of their short positions.As of the latest report, leverage funds are short the Canadian dollar by a ratio of 4.45:1, which is down from the previous week of 5.47:1, but up from the ratio of two weeks ago of 4.28:1.

Australian dollar:

For the week, the June Australian dollar gained 1.59 cents. The COT report revealed that leverage funds added 11,434 contracts to their long positions and liquidated 7,103 of their short positions.As of the latest report, leverage funds are short the Australian dollar by a ratio of 2.28:1, which is down dramatically from the previous week of 4.50:1 and the ratio of two weeks ago a 4.90:1.

Swiss Franc:

For the week, the June Swiss franc gained 3.14 cents. The COT report revealed that leverage funds added 6,382 to their long positions and liquidated 1,203 of their short positions. As of the latest report, leverage funds are short the Swiss franc by a ratio of 1.01:1, which is down dramatically from the previous week of 1.88:1 and the ratio of two weeks ago of 1.41:1.

British Pound:

For the week, the June British pound gained 2.21 cents. The COT report revealed that leverage funds added 3,198 contracts to their long positions and also added 4,832 to their short positions. As of the latest report, leverage funds are short the British pound by a ratio of 1.49:1, which is the same as the previous week of 1.49:1, but up from the ratio of two weeks ago of 1.33:1.

Euro:

For the week, the June euro gained 3.39 cents. The COT report revealed that leverage funds liquidated 15,685 contracts of their long positions and also liquidated 644 of their short positions. As of the latest report, leverage funds are short the euro by ratio of 5.98:1, which is up substantially from the previous week of 3.89:1 but down from the ratio of two weeks ago of 6.29:1.

It turned out that the March 2003 low of 1.0470 provided support and the euro made a contract low of 1.0473. Although, we expect the support to be violated at some point in the future, the market may trade at higher levels to blowout the very large speculative short position.

From the March 8 Weekend Wrap:

“We took a look at the long-term euro chart and it appears that the euro found support in the third quarter of 2003 approximately 1 cent below the closing price on March 6. The August 2003 low was 1.0786 and the September 2003 low took out the August 2003 low by 27 pips (1.0759). The next area of support is the March 2003 low of 1.0470 and the April 2003 low of 1.0534.”

Yen:

For the week, the June yen gained 78 pips. The COT report revealed that leverage funds liquidated 1,215 contracts of their long positions and added 2,492 to their short positions. As of the latest report, leverage funds are short the yen by a ratio of 2.89:1, which is up from the previous week of 2.70:1 and the ratio of two weeks ago of 2.62:1.

Dollar index:

For the week, the June dollar index lost 2.54 points. The COT report revealed that leverage funds liquidated 6,590 contracts of their long positions and added a massive 23,765 to their short positions. As of the latest report, leverage funds are short the dollar index by ratio of 2.80:1, which is a dramatic increase from the previous week of 1.21:1 and a complete reversal from two weeks ago when leverage funds for long the dollar index by a ratio of 1.12:1.

Year to date, the June dollar index is the out performer with a gain of 8.37%, June Swiss franc +1.76%, June yen -0.13%, June British pound -4.09%, June Australian dollar -4.75%, June Canadian dollar -7.39%, June euro -10.63%.

S&P 500 (250 x):

For the week, the June S&P 500 futures contract gained 57.00 points. The COT report revealed that leverage funds added 3,617 contracts to their long positions and liquidated 5,713 of their short positions. As of the latest report, leverage funds are long the S&P 500 futures contract by ratio of 1.17:1, which is a complete reversal from the previous week when they were short by ratio of 2.66:1 and the ratio of two weeks ago of 1.49:1.

Year to date, the S&P 400 cash index is the out performer with the gain of 6.00%, NASDAQ 100 cash index +5.25%, Russell 2000 cash index +5.12%, S&P 500 cash index +2.39%, New York Composite cash index +2.13%, Dow Jones Industrial Average cash index +1.71%.

10 Year Treasury Notes: On March 19, the June 10 year treasury note generated a short and intermediate term buy signal, which reversed the February 10 short-term sell signal and the March 9 intermediate term sell signal.

For the week, the June 10 year treasury note gained 1-186 points. The COT report revealed that leverage funds added 8,341 contracts to their long positions and also added 15,212 to their short positions. As of the latest report, leverage funds are short the 10 year treasury note by ratio of 1.40:1, which is fractionally higher than the previous week of 1.39:1 and the ratio of two weeks ago of 1.29:1.