Article / 09 February 2015 at 8:08 GMT

COT: Commodity exposure reduced, even in crude oil

Head of Commodity Strategy / Saxo Bank
Denmark
  • Hedge funds cut net long commodity positions
  • Soybean oil, corn, wheat, and sugar see net position declines
  • Longs scale back oil positions as crude prices rally

By Ole Hansen

Hedge funds were major sellers of commodities during the week ending February 3. The total net long position was cut by 17% to 659,000 lots with 16 out of 24 major commodities tracked in this being sold, not least soybean oil, corn, wheat and sugar. 

Speculative position in Commodities
 
The 15% surge in WTI crude oil during the week interestingly enough attracted some additional selling while longs scaled back positions. This left the overall net long down by 8398 lots to 207,927 lots. 

Speculative position in WTI Crude




















– Edited by Gayle Bryant

Ole Hansen is head of commodities strategy at social trading leader Saxo Bank. 

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Commodity COT

4y
carlosdemarch carlosdemarch
would be nice to see the price plotted :-)
4y
Ole Hansen Ole Hansen
Hi Carlos, a technical error has left the prices out. Will be corrected
4y
carlosdemarch carlosdemarch
Thanks Ole

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