This weekly Extreme Positions report highlights the Most Bullish and Most Bearish Positions for the speculator category. Extreme positioning in these markets can foreshadow strong moves in the underlying market.

What will the Fed do? What will Trump’s policies lead to? What if and so forth and so on? Just watch the key commodities and that will tell you how and when the narrative changes.

Cotton was higher and price trend started to change to up. The US Dollar was weaker and Crude Oil futures have been weaker.

Cotton was lower yesterday and made new contract lows despite strong weekly export sales. The US Dollar has been strong and Crude Oil futures have been weaker.

Cotton was a little lower as the market got back to trading the fundamentals.

Sugar, as shown in the weekly chart, has broken down under the 200-WMA for the first time since December 2020. However, it is holding the August 2024 low.  

Cotton was higher in consolidation trading. The weekly export sales report did not show strong sales.

FCOJ closed lower as the cold weather invaded the eastern half of the country and did not harm Florida growing areas.

FCOJ closed moderately higher. The chart trends remain down on the daily charts.

Oil prices moved higher yesterday with sentiment remaining supportive. Meanwhile, China’s central bank added to its gold reserves for a second month in December.

FCOJ closed higher and the chart trends remain down on the daily charts. The short term supply scenario remains very tight.

FCOJ closed higher and the chart trends are up on the daily charts but mixed on the weekly charts.

FCOJ closed higher and the chart trends are mixed.

We see large parts of the complex edging lower in 2025 with relatively comfortable supply and demand balances.

Using a mix of more than a dozen long-term cycles, the SP500 is projected to enter a long-term bear market in 2025.

Cotton was lower and the trends are sideways. Selling came from news that Trump will impose some big tariffs on China.

Cotton was mixed and little changed and the trends are still turning up in this market.

Cotton was higher and the trends are now turning up in this market.

Cotton was higher and the trends are now mixed in this market.

Cotton was a little higher after a choppy session and the trends are still down in this market.

FCOJ closed lower on speculative profit taking and reports of new selling from producers. The market remains well supported in the longer term based on forecasts for tight supplies in Florida.

Cotton was lower and closed at a new low for the move. A stronger US Dollar weighed on Cotton futures prices.

FCOJ closed higher in consolidation trading. The market remains well supported in the longer term based on forecasts for tight supplies in Florida.

The recent export Sales report showed soybean on the high end. While that was a 3-week low, it was still 88.7% above the same week last year.