For Bloomberg access:{OIAR<GO>

The time frame for the current Commitments of Traders report is from Wednesday, May 20 through Tuesday, May 26.

Soybeans:

For the week, July soybeans advanced 9.75 cents, August +3.00, new crop November -1.25. The COT report revealed that managed money added 760 contracts to their long positions and also added 15,088 to their short positions. Commercial interests added 3,285 contracts to their long positions and liquidated 7,624 of their short positions. As of the latest report, managed money is short soybeans by a ratio of 2.34:1, which is an increase from the previous week of 2.14:1 and a substantial advance over the ratio of two weeks ago of 1.48:1.

The current short ratio of 2.34:1 is the highest recorded during the course of the bear market, which began in 2014.

Soybean meal:

For the week, July soybean meal gained $1.50, August +1.50, new crop December -2.90. The COT report revealed that managed money added 3,004 contract to their long positions and also added 3,938 to their short positions. Commercial interests added 14,728 contracts to their long positions and also added 11,912 to their short positions. As of the latest report, managed money is short soybean meal by ratio of 1.16:1, which is up slightly from the previous week of 1.15:1, but down from the ratio two weeks ago of 1.18:1.

Soybean oil:

For the week, July soybean oil advanced 1.69 cents, August +1.66, new crop December +1.50. The COT report revealed that managed money added 2,368 contracts to their long positions and also added 1,143 to their short positions. Commercial interests added 4,514 contracts to their long positions and liquidated 2,113 of their short positions. As of the latest report, managed money is long soybean oil by a ratio of 1.60:1, which is up slightly from the previous week of 1.59:1, down from the ratio of two weeks ago of 1.98:1.

Corn:

For the week, July corn lost 8.50 cents, September -9.50, new crop December -9.75. The COT report revealed that managed money added 7,467 to their long positions and also added 10,494 contracts to their short positions. Commercial interests added 7,997 contracts to their long positions and also added 5,384 to their short positions. As of the latest report, managed money is short corn by a ratio of 1.72:1, which is a fraction lower than the previous week’s ratio of 1.73:1 (the high short ratio thus far in the bear market), and above the ratio of two weeks ago 1.68:1.

Chicago wheat:

For the week, July Chicago wheat lost 38.25 cents, September -40.75, new crop December -40.00. The COT report revealed that managed money liquidated 1,275 of their long positions and added 11,329 contracts to their short positions. Commercial interests added 2,433 to their long positions and liquidated 9,390 of their short positions. As of the latest report, managed money is short Chicago wheat by a ratio of 2.40:1, which is up from the previous week of 2.17:1, but down from the record high short ratio of 3.14:1 recorded two weeks ago.

Kansas City wheat:

For the week, July Kansas City wheat lost 47.75 cents, September -49.25, new crop December -48.75. The COT report revealed that managed money added 584 contracts to their long positions and liquidated 4,719 of their short positions. Commercial interests liquidated 1,458 of their long positions and added 3,917 to their short positions. As of the latest report, managed money is long Kansas City wheat by a ratio of 1.14:1, which is a complete reversal from the previous week when they were short by a ratio of 1.03:1. Two weeks ago, managed money was short Kansas City wheat by a ratio of 1.32:1.

Cotton:

For the week, July cotton advanced 1.05 cents, new crop December +26 points, March 2016 +1. The COT report revealed that managed money liquidated 8,548 contracts of their long positions and added 8,169 to their short positions. Commercial interests added 3,080 to their long positions and liquidated 11,476 of their short positions. As of the latest report, managed money is long cotton by a ratio of 1.69:1, which is down from the previous week of 2.54:1 and the ratio of two weeks ago of 2.95:1.

Sugar:

For the week, July sugar lost 33 points, October -38, March 2016 -29. The COT report revealed that managed money added 2,490 to their long positions and also added 35,951 contracts to their short positions. Commercial interests added 9,365 to their long positions and liquidated 16,622 of their short positions. As of the latest report, managed money is short sugar by a ratio of 1.43:1, which is up from the previous week of 1.20:1 and substantially above the low short ratio of two weeks ago of 1.12:1.

Coffee:

For the week, July coffee lost 80 points, September -1.20 cents, December -1.35. The COT report revealed that managed money liquidated 805 contracts of their long positions and added a massive 13,697 contracts to their short positions. Commercial interests added 5,688 to their long positions and liquidated 8,461 of their short positions. As of the latest report, managed money a short coffee by a ratio of 1.61:1, which is up substantially from the previous week up 1.15:1 and the previous high short ratio of 1.33:1 made two weeks ago.

The current short ratio of 1.16:1 is the highest recorded during the course of the bear market which began in early 2015.

Cocoa:

For the week, July cocoa lost $68.00, September -59.00, December -52.00. The COT report revealed that managed money added 3,152 to their long positions and also added 1,278 to their short positions. Commercial interests liquidated 1,500 contracts of their long positions and added 5,464 to their short positions. As of the latest report, managed money is long cocoa by a ratio of 2.68:1, which is fractionally lower than the previous week of 2.69:1, but above the ratio of two weeks ago of 2.41:1.

Live cattle:

For the week, June live cattle advanced 20 points, August +57, October +32. The COT report revealed that managed money added 1,334 contracts to their long positions and also added 1,829 to their short positions. Commercial interests added 2,419 to their long positions and also added 575 to their short positions. As of the latest report, managed money is long live cattle by a ratio of 8.46:1, which is down substantially from the previous week of 9.82:1, but about the same as the ratio two weeks ago of 8.49:1.

Lean hogs:

For the week, June lean hogs advanced 10 points, August -1.22 cents, October -1.55. The COT report revealed that managed money liquidated 1,482 contracts of their long positions and added 1,237 to their short positions. Commercial interests added 393 contracts to their long positions and liquidated 1,722 of their short positions. As of the latest report, managed money is long lean hogs by a ratio of 1.77:1, which is down from the previous week of 1.90:1 and the ratio two weeks ago of 1.79:1.

WTI crude oil:

For the week, July WTI crude oil advanced 58 cents, August +45, September +36. The COT report revealed that managed money liquidated 2,587 of their long positions and also liquidated 3,029 of their short positions. Commercial interests liquidated 3,621 of their long positions and also liquidated 613 of their short positions. As of the latest report, managed money is long WTI crude oil by a ratio of 4.85:1, which is up from the previous week of 4.67:1, but down from the recent record high ratio of 5.19:1 made two weeks ago.

Heating oil: On May 27, July heating oil generated a short-term sell signal, but remains on an intermediate term buy signal.

For the week, July heating oil gained 28 points, August -76, September -1.06 cents. The COT report revealed that managed money liquidated 1,387 of their long positions and also liquidated 2,187 of their short positions. Commercial interests liquidated 1,836 of their long positions and also liquidated 1,562 of their short positions. As of the latest report, managed money is short heating oil by a ratio of 1.11:1, which is down slightly from the previous week of 1.13:1 and the ratio of two weeks ago of 1.23:1.

Gasoline:

For the week, July gasoline advanced 2.37 cents, August +1.60, September +1.03. The COT report revealed that managed money liquidated 53 contracts of their long positions and also liquidated 1,574 of their short positions.Commercial interests liquidated 10,642 contracts of their long positions and also liquidated 14,982 of their short positions. As of the latest report, managed money is long gasoline by a ratio of 1.55:1, which is down from the previous week of 1.61:1 and the ratio of two weeks ago of 1.63:1.

Natural gas: On May 29, July natural gas generated short and intermediate term sell signals.

For the week, July natural gas lost 27.7 cents, August -26.9, September -26.4. The COT report revealed that managed money liquidated 6.402 contracts of their long positions and added 9,305 to their short positions.Commercial interests liquidated 12,646 contracts of their long positions and also liquidated 7,010 of their short positions. As of the latest report, managed money is short natural gas by a ratio of 1.44:1, which is up from the previous week of 1.36:1 and about the same as the ratio of two weeks ago of 1.45:1.

Copper: On May 26, July copper generated a short-term sell signal, but remains on an intermediate-term buy signal.

For the week, July copper lost 8.30 cents. The COT report revealed that managed money liquidated 7,105 of their long positions and added 3,144 to their short positions. Commercial interest added 520 contracts to their long positions and liquidated 3,989 of their short positions. As of the latest report, managed money is long copper by a ratio of 2.19:1, which is down from the previous week of 2.88:1 and substantially below the high long ratio of 3.17:1 made two weeks ago.

From the May 24 Weekend Wrap:

“Last week, we wrote about copper and the lopsided long position held by managed money (see extract below), which was nearly as large as the position held in the July 22, 2014 COT report when copper prices traded substantially higher. It appears to be a certainty that July copper will generate a short-term sell signal early next week.”

From the May 17 Weekend Wrap:

“We would not be involved in copper. There are better trades on the board, especially gold and silver who have substantially lower ratios of managed money longs. Additionally, when looking at the performance of copper year to date and during the second quarter, it does not merit its current large net long position, and certainly doesn’t when comparing the current lopsided number of longs to previous periods when copper prices were trading at higher levels. July copper remains on a short and intermediate term buy signal.”

Palladium:

For the week, September palladium lost $8.40. The COT report revealed that managed money liquidated 61 contracts of their long positions and also liquidated 530 of their short positions. Commercial interests added just 1 contract to their long position and liquidated 276 contracts of their short positions. As of the latest report, managed money is long palladium by a ratio of 6.94:1, which is an increase from the previous week of 5.80:1 and about the same as the ratio of two weeks ago of 6.88:1.

Platinum:

For the week, July platinum lost $37.10. The COT report revealed that managed money liquidated 306 contracts of their long positions and added 1,246 to their short positions. Commercial interests liquidated 63 contracts of their long positions and added 208 to their short positions. As of the latest report, managed money is long platinum by a ratio of 2.06:1, which is down from the previous week of 2.24:1, but up from the ratio of two weeks ago of 1.74:1.

Gold: On May 27, August gold generated an intermediate term sell signal, but remains on a short term buy signal.

For the week, August gold lost $15.10. The COT report revealed that managed money liquidated 7,237 of their long positions and added 5,136 to their short positions. Commercial interests liquidated 522 contracts of their long positions and also liquidated 2,998 of their short positions. As of the latest report, managed money is long gold by a ratio of 2.13:1, which is down from the previous week of 2.46:1, but up substantially from the ratio of two weeks ago of 1.36:1.

Silver:

For the week, July silver lost 35.00 cents. The COT report revealed that managed money liquidated 1,742 of their long positions and also liquidated 1,400 of their short positions. Commercial interests liquidated 81 contracts of their long positions and added 26 to their short positions. As of the latest report, managed money is long silver by a stratospheric 5.05:1, which is up from the previous week of 4.60:1 and substantially above the ratio recorded just two weeks ago of 1.47:1.

Canadian dollar: On May 26, the June and September Canadian dollar generated short-term sell signals, but remain on intermediate term buy signals.

For the week, the June Canadian dollar lost 93 pips. The COT report revealed that leverage funds added 4,543 contracts of their long positions and also added 1,128 to their short positions. Remarkably, leverage funds are long the Canadian dollar by a ratio of 1.18:1, which is a complete reversal from the previous week when they were short by a ratio of 1.03:1. Two weeks ago, leverage funds were short the Canadian dollar by a ratio of 1.65:1.

Australian dollar: On May 27, the June and September Australian dollar generated short-term sell signals and inter-mediate term sell signals on May 29.

For the week, the June Australian dollar lost 1.70 cents. The COT report revealed that leverage funds liquidated 499 contracts of their long positions and added 1,063 to their short positions.As of the latest report, leverage funds are short the Australian dollar by a ratio of 1.47:1, which is up from the previous week of 1.39:1, but down from the ratio of two weeks ago of 1.97:1.

Swiss Franc:

For the week, the June Swiss franc gained 28 pips. The COT report revealed that leverage funds liquidated 912 contracts of their long positions and added 159 to their short positions. As of the latest report, leverage funds are long the Swiss franc by a ratio of 2.16:1, which is down from the previous week of 2.58:1 and the ratio of two weeks ago of 2.29:1.

British Pound:

For the week, the June British pound lost 1.96 cents. The COT report revealed that leverage funds added 1,731 contracts to their long positions and liquidated 5,513 of their short positions. As of the latest report, leverage funds are long the British pound by a stunning ratio of 2.21:1 which is an increase from the previous week of 1.78:1 and nearly double the ratio of two weeks ago of 1.16:1.

Euro: On May 26, the June and September euro generated short-term sell signals and intermediate term sell signals on May 27.

For the week, the June euro lost 60 pips. The COT report revealed that leverage funds added 5,006 contracts to their long positions and also added 4,845 to their short positions. As of the latest report, leverage funds are short the euro by a ratio of 4.27:1, which is down from the previous week of 4.89:1 and the ratio of two weeks ago of 4.30:1.

Yen:

For the week, the June yen lost 60 pips. The COT report revealed that leverage funds liquidated 13,270 contracts of their long positions and added 23,061 to their short positions. As of the latest report, leverage funds are short by a ratio of 3.89:1, which is a substantial increase from the previous week of 2.15:1 and above the ratio of two weeks ago of 3.41:1.

Dollar index: On May 26, the June and September dollar index generated short and intermediate term buy signals.

For the week, the June dollar index advanced 87 points. The COT report revealed that leverage funds liquidated 1,378 of their long positions and added 7,407 to their short positions. As of the latest report, leverage funds are short the dollar index by a ratio of 1.17:1, which is a complete reversal from the previous week when they were long by a ratio of 1.44:1. Two weeks ago, leverage funds were long the dollar index by a ratio of 1.17:1.

S&P 500 (250 x):

For the week, the June S&P 500 futures contract lost 18.60 points. The COT report revealed that leverage funds liquidated 1,338 of their long positions and added 2,083 to their short positions. As of the latest report, leverage funds are short the S&P 500 futures contract by a ratio of 1.11:1, which is a complete reversal from the previous week when they were long by a ratio of of 1.36:1. Two weeks ago, leverage funds were short the S&P 500 futures contract by a ratio of 1.18:1.

10 Year Treasury Note: The September 10 year note will generate a short term buy signal if the daily low is above OIA’s key pivot point for May 29 of 128-125.

For the week, the June 10 year treasury note advanced 1-01 points. The COT report revealed that leverage funds liquidated 4,963 of their long positions and added 18,049 to their short positions. As of the latest report, leverage funds are short the 10 year treasury note by a ratio of 1.68:1, which is up from the previous week of 1.62:1 and the ratio two weeks ago of 1.52:1.