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The time frame for the current Commitments of Traders report is from Wednesday, September 9 through Tuesday, September 15.

Soybeans:

For the week, November soybeans lost 7.00 cents, January -6.00, March -4.25. The COT report revealed that managed money added 1,152 contracts to their long positions and also added 9,342 to their short positions. Commercial interests added 5,111 contracts to their long positions and liquidated 1,185 of their short positions. As of the latest report, managed money is short soybeans by a ratio of 1.17:1, which is up from the previous week of 1.06:1 and the ratio two weeks ago of 1.04:1.

Soybean meal:

For the week, October soybean meal lost $1.90, December -1.50, March -30 cents. The COT report revealed that managed money added 2,202 to their long positions and liquidated 3,398 of their short positions. Commercial interests added 962 contracts to their long positions and also added 13,648 to their short positions. As of the latest report, managed money is long soybean meal by a ratio of 2.25:1, which is up from the previous week of 1.96:1 and down fractionally from the ratio two weeks ago of 2.26:1.

Soybean oil:

For the week, October soybean oil lost 60 points, December -60, March -60. The COT report revealed that managed money liquidated 184 contracts of their long positions and added 6,775 to their short positions. Commercial interests added 5,476 to their long positions and liquidated 1,018 of their short positions. As of the latest report, managed money is short soybean oil by a ratio of 1.25:1, which is up from the previous week of 1.15:1 and the ratio two weeks ago of 1.08:1.

Corn: On September 14, December corn generated a short-term buy signal, but remains on an intermediate term sell signal.

For the week, December corn lost 9.75 cents, March -9.75, May -9.25. The COT report revealed that managed money added 4,975 to their long positions and liquidated 14,677 of their short positions. Commercial interests liquidated 9,798 of their long positions and added 29,334 to their short positions. As of the latest report, managed money is long corn by a ratio of 1.43:1, which is up from the previous week of 1.28:1, but down from the ratio two weeks ago of 1.54:1.

It should be noted that during the COT time frame, that more short positions were liquidated in corn by managed money than were added. This is the exact opposite of Chicago wheat in which the addition of long positions was significantly greater than the liquidation of short positions.

Chicago wheat:

For the week, December Chicago wheat advanced 1.75 cents, March unchanged, May -0.75 cents. The COT report revealed that managed money added 6,779 to their long positions and liquidated 1,087 of their short positions. Commercial interests added 1,195 to their long positions and also added 5,983 to their short positions. As of the latest report, managed money is short Chicago wheat by a ratio of 1.67:1, which is down from the previous week of 1.91:1, but up from the ratio two weeks ago of 1.46:1.

Cotton:

For the week, December cotton lost 2.58 cents, March -2.39, May -2.29. The COT report revealed that managed money liquidated 1,320 of their long positions and added 724 to their short positions. Commercial interests added 408 to their long positions and liquidated 2,401 of their short positions. As of the latest report, managed money is long cotton by a ratio of 2.67:1, which is down from the previous week of 2.84:1 and the ratio two weeks ago of 3.37:1.

During the past week, December 2015, March 2016 and May 2016 cotton recorded new contract lows of 60.40, 60.40, and 60.93 respectively.

OIA cannot remember a time when a commodity or currency has been at contract lows accompanied by a heavy net long position as currently exists in cotton. This informs OIA that cotton will make another leg down and that managed money will provide some of the fuel for the downtrend. The next downside target is 57.05, the low made during the week of January 19, 2015 for the March 2015 contract.

Sugar:

For the week, October sugar lost 70 points, March -75, May -76. The COT report revealed that managed money added 2,954 to their long positions and liquidated 7,711 of their short positions. Commercial interests liquidated 1,787 of their long positions and added 8,928 to their short positions. As of the latest report, managed money is long sugar for the first time in many months by a ratio of 1.007:1, which is a complete reversal from the previous week when they were short by 1.07:1. Two weeks ago, managed money was short sugar by a ratio of 1.31:1.The rally from contract lows of August 24 has blown-out a hefty number of managed money shorts.

Coffee:

For the week, December coffee advanced 1.80 cents, March +1.80, May +1.75. The COT report revealed that managed money liquidated 867 contracts of their long positions and added 3,353 to their short positions. Commercial interests added 5,124 to their long positions and also added 3,043 to their short positions. As of the latest report, managed money is short coffee by a ratio of 1.82:1, which is up from the previous week of 1.76:1 and the ratio two weeks ago of 1.68:1.

The current short ratio of managed money in coffee of 1.82:1 is one of the highest seen during 2015.

Cocoa:

For the week, December cocoa advanced $57.00, March +61.00, May +57.00. The COT report revealed that managed money liquidated 1,396 of their long positions and also liquidated 9 of their short positions. Commercial interests added 2,108 to their long positions and also added 3,980 to their short positions. Remarkably, managed money is long cocoa by a ratio of 2.82:1, which is down from the previous week of 2.89:1 and the ratio two weeks ago of 3.00:1.

It is astounding that since the rally began in cocoa on September 4, managed money has actually trimming their net long exposure in futures, and perhaps this best explains why cocoa continues to advance without a correction. In summary, there are not a sufficient number of new speculative longs to exert selling pressure when cocoa pulls back slightly.

We drilled down and looked at the additional COT stats and found that “Other Reportables” added 4,412 to their long positions and 868 to short positions. “Non Reportables” added 1,230 to their long positions and 442 to short positions.

Live cattle:

For the week, October live cattle lost 4.60 cents, December -4.00, February -3.62. The COT report revealed that managed money added 2,387 to their long positions and also added 4,429 to their short positions. Commercial interests added 6,153 to their long positions and also added 657 to their short positions. As of the latest report, managed money is long live cattle by a ratio of 1.21:1, which is down from the previous week of 1.28:1 and the ratio two ago of 1.35:1.

The current ratio of 1.21:1 is the lowest recorded for live cattle during 2015.

During the past week, October, December and February live cattle made new contract lows of 1,3582, 1,3802 and 1.3872 respectively.

Lean hogs:

For the week, October hogs gained 3.73 cents, December +1.50 cents, February +1.72. The COT report revealed that managed money added 122 to their long positions and liquidated 345 of their short positions. Commercial interests liquidated 1,276 of their long positions and also liquidated 1,457 of their short positions. As of the latest report, managed money is long lean hogs by a ratio of 1.76:1, which is up from the previous week of 1.74:1 and the ratio two weeks ago of 1.64:1.

WTI crude oil:

For the week, October WTI crude oil gained  5 cents, November -14, December -24. The COT report revealed that managed money added 1,195 to their long positions and liquidated 13,012 of their short positions. Commercial interests added 8,461 to their long positions and also added 16,622 to their short positions. As of the latest report, managed money is long WTI crude by a ratio of 2.25:1, which is up from the previous week of 2.01:1 and the ratio two weeks ago of 1.78:1.

Heating oil:

For the week, October heating oil lost 5.93 cents, November -5.59, December -5.35. The COT report revealed that managed money liquidated 1,832 of their long positions and added 306 to their short positions. Commercial interests added 3,669 to their long positions and liquidated 2,635 of their short positions. As of the latest report, managed money is short heating oil by a ratio of 2.13:1, which is up from the previous week of 1.96:1 and the ratio two weeks ago of 2.12:1.

Gasoline:

For the week, October gasoline lost 1.37 cents, November -1.79, December -2.41. The COT report revealed that managed money added 697 to their long positions and 183 to their short positions. Commercial interests added 10,574 to their long positions and also added 9,004 to their short positions. As of the latest report, managed money is long gasoline by a ratio of 1.46:1, up from 1.45:1 the previous week and 1.44:1 two weeks ago.

Natural gas:

For the week, October natural gas lost 8.8 cents, November -9.1, December -8.2. The COT report revealed that managed money added 1,751 to their long positions and liquidated 16,395 of their short positions. Commercial interests liquidated 3,565 of their long positions and also liquidated 789 of their short positions. As of the latest report, managed money is short natural gas by a ratio of 1.65:1, down from 1.75:1 the previous week and 1.77:1 two weeks ago.

Copper:

For the week, December copper lost 6.75 cents. The COT report revealed that managed money liquidated 1,683 of their long positions and liquidated 7,427 of their short positions. Commercial interests liquidated 2,556 of their long positions and added 6,613 to their short positions. As of the latest report, managed money is long copper by a ratio of 1.03:1, which is a complete reversal from the previous week when managed money was short by a ratio of 1.12:1 and the ratio two weeks ago 1.46:1.

Palladium:

For the week, December palladium gained $19.85. The COT report revealed that managed money added 317 to their long positions and 259 to their short positions. Commercial interests added 339 to their long positions and also added 212 to their short positions. As of the latest report, managed money is long palladium by a ratio of 1.63:1, down from 1.64:1 the previous week and 1.73:1 two weeks ago.

Platinum:

For the week, October platinum gained $19.50. The COT report revealed that managed money added 799 to their long positions and  also added 2,409 to their short positions. Commercial interests added 106 to their long positions and liquidated 1,379 of their short positions. As of the latest report, managed money is long platinum by a ratio of 1.49:1, down from 1.63:1 the previous week and 1.54:1 two weeks ago.

Gold:

For the week, December gold gained $34.50. The COT report revealed that managed money liquidated 8,384 of their long positions and added 9,634 to their short positions. Commercial interests liquidated 3,209 of their long positions and also liquidated 1,379 of their short positions. As of the latest report, managed money is long gold by a ratio of 1.09:1, down from 1.31:1 the previous week and 1.56:1 two weeks ago.

Silver:

For the week, December silver gained 65.8 cents. The COT report revealed that managed money added 686 to their long positions and also added 6,001 to their short positions. Commercial interests liquidated 2,381 of their long positions and also liquidated 2,879 of their short positions. As of the latest report, managed money is long silver by a ratio of 1.06:1, down from 1.23:1 the previous week and 1.12:1 two weeks ago.

Canadian Dollar:

For the week, the December Canadian dollar gained 50 pips. The COT report revealed that leverage funds added 1,969 to their long positions and liquidated 6,224 of their short positions. As of the latest report, leverage funds are short the Canadian dollar by 3.29:1, down from 4.11 the previous week and 4.92:1 two weeks ago.

Australian dollar:

For the week, the December Australian dollar gained 1.37 cents. The COT report revealed that leverage funds added 19,108 to their long positions and liquidated 3,976 of their short positions. As of the latest report, leverage funds are short the Australian dollar by 1.88:1, down from 5.10:1 the previous week and 5.96:1 two weeks ago.

Swiss franc:

For the week, the December Swiss franc gained 51 pips. The COT report revealed that leverage funds added 1,969 to their long positions and liquidated 6,224 of their short positions. As of the latest report, leverage funds are short the Swiss franc by 1.04:1, down from 2.31:1 the previous week and 2.65:1 two weeks ago.

British Pound: On September 17, the December British pound generated a short-term buy signal, which reversed the short-term sell signal of August 19. The December pound remains on an intermediate term sell signal.

For the week, the December British pound gained 1.26 cents. The COT report revealed that leverage funds liquidated 977 of their long positions and liquidated 14,489 of their short positions. As of the latest report, leverage funds are long the British pound by 2.11:1, up from 1.36:1 the previous week, but below 2.15:1 two weeks ago.

Euro:

For the week, the December euro gained 15 pips. The COT report revealed that leverage funds liquidated 14,713 of their long positions and also liquidated 5,036 of their short positions. As of the latest report, leverage funds are short the euro by 2.77:1, up from 2.03:1 the previous week, and 1.86:1 two weeks ago.

Yen:

For the week, the December yen gained 55 pips. The COT report revealed that leverage funds liquidated 13,234 of their long positions and also liquidated 841 of their short positions. As of the latest report, leverage funds are short the yen by 2.49:1, up from 1.69:1 the previous week, and 2.40:1 two weeks ago.

Dollar Index:

For the week, the December dollar index lost 38 points. The COT report revealed that leverage funds liquidated 17,396 of their long positions and added 5,161 to their short positions. As of the latest report, leverage funds are long the dollar index by 1.04:1, down from 3.43:1 the previous week, and 3,14:1 two weeks ago.

S&P 500 (250 x):

For the week, the December S&P 500 futures contract lost 30 ticks (nearly unchanged for the week). The COT report revealed that leverage funds added 4,211 to their long positions and liquidated 1,531 of their short positions. As of the latest report, leverage funds are long the S&P 500 futures contract by 1.52:1, up from 1.06:1 the previous week, and a complete reversal from two weeks ago when leverage funds were short by 1.12:1.

10 Year Treasury Note:

For the week, the December 10 year treasury note gained 14 points. The COT report revealed that leverage funds liquidated 8,913 of their long positions and added 9,957 to their short positions. As of the latest report, leverage funds are short the 10 year note by 2.16:1 (a record high short position since OIA announced the 10 year note generated a short term buy signal on July 6) up from 2.08:1 the previous week, and 1.92:1 two weeks ago.