Frank, I had not seen those charts thanks for those. Here is the latest commitment of traders data, The idea is that you want the commericials to be going long corn if you think that corn is going to go up, and have the small specualtors shorting corn etc.
I'll send you a great article from Barron's on how to glean some more insight in the commodity markets through the commitment of traders.
Corn is the most bullish in the grain complex currently, at least from this data.
Monday, June 7, 1999
TRADERS' COMMITMENTS
June 01, 1999
This report, from the Commodity Futures Trading Commission, is updated biweekly and released on Friday afternoon. The CFTC requires any person or firm trading a certain number of contracts to report that trading. The number of contracts that triggers the reporting requirement varies by commodity. A commercial hedger is a large trader who also deals in the commodity on a cash basis. A large speculator is a non-commercial trader who has no dealings in the underlying commodity. The number of contracts traded by small traders is derived by subtracting the positions of larger traders and commercial hedgers from the total of all positions.
Number of Contracts and Changes from Previous Week *
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Contract/Category Long Chg. Short Chg.
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Copper
Large Speculator 14,416 -4,510 10,714 6,995
Commercial Hedger 28,398 4,624 39,788 -9,230
Small Trader 25,044 -185 17,356 2,164
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Corn
Large Speculator 55,219 1,083 82,339 1,880
Commercial Hedger 182,193 -2,554 110,537 -2,544
Small Trader 86,706 1,443 131,242 636
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Crude Oil
Large Speculator 48,177 -10,814 21,304 429
Commercial Hedger 371,758 11,958 412,058 -5,392
Small Trader 104,655 -187 91,228 5,920
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Eurodollars
Large Speculator 123,959 -5,155 279,748 56,573
Commercial Hedger 2,300,311 87,084 1,965,620 26,984
Small Trader 642,796 35,150 821,698 33,522
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Gold
Large Speculator 9,625 1,936 88,396 -4,731
Commercial Hedger 141,084 1,343 58,694 7,028
Small Trader 29,116 -3,605 32,735 -2,623
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Live Cattle
Large Speculator 18,008 -368 23,472 -1,674
Commercial Hedger 46,304 -1,893 35,210 -1,178
Small Trader 27,737 -2,258 33,367 -1,667
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Mark
Large Speculator 1,918 -363 12,563 1,230
Commercial Hedger 21,399 1,743 5,957 -1,628
Small Trader 10,908 606 15,705 2,384
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S&P 500
Large Speculator 17,400 -2,722 55,609 7,136
Commercial Hedger 275,415 -1,889 255,577 -14,326
Small Trader 106,249 3,991 87,878 6,570
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S&P 500 (E-Mini)
Large Speculator 7,004 576 8,377 546
Commercial Hedger 5,075 223 3,667 -1,800
Small Trader 10,330 -2,127 10,365 -74
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Silver (Comex)
Large Speculator 26,831 -2,444 8,868 6,087
Commercial Hedger 14,022 4,658 46,264 -4,431
Small Trader 27,800 404 13,521 962
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Soybeans
Large Speculator 23,556 2,425 41,602 2,073
Commercial Hedger 78,165 -1,071 54,394 2,401
Small Trader 43,960 1,598 49,685 -1,522
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Sugar (No. 11)
Large Speculator 17,012 -833 46,471 -2,165
Commercial Hedger 116,386 -5,012 105,570 5,573
Small Trader 60,650 9,567 42,007 314
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T-Bonds (Chicago)
Large Speculator 88,218 -14,350 107,303 16,616
Commercial Hedger 474,022 34,863 445,011 -6,963
Small Trader 102,298 -11,895 112,224 -1,035
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Wheat (Chicago)
Large Speculator 23,362 1,535 29,757 927
Commercial Hedger 50,273 3,823 46,960 4,486
Small Trader 30,506 327 27,424 272
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Yen
Large Speculator 3,868 2,041 49,791 -14,220
Commercial Hedger 98,953 -15,444 39,620 5,251
Small Trader 13,186 -1,134 26,596 -5,568
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*All data as of latest Tuesday.
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