Commitment of Traders

Commitment of Traders

T note leveraged funds covered 91,000 shorts in the week ending September 8, pulling the net short below two million for the first time in this data at 1,941,969. Soybeans added 26,000 new longs to reach net long 266,031, and crude oil added 16,000 new longs to push the net to 139,339. Equity leveraged funds went the other direction: S&P liquidated 15,000 longs and added 10,000 new shorts, while Nasdaq added 12,000 new shorts.

Corn barely moved at minus 6,000 after weeks of heavy building, now sitting at net long 425,000. Wheat liquidated 9,000 longs, giving back a third of last week’s gain. The S&P and Nasdaq selling came in the same week the T note short finally contracted in size, which splits the risk off trade into two different reads. Copper added 7,000 new longs and covered 3,000 shorts to reach net long 82,000. Nat gas added 11,000 new shorts, widening the net short back toward 97,000 after several weeks of covering.