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COT data that is normally released on Friday, will be delayed until Monday afternoons Dec 1; Dec 29, 2014; and Jan 5, 2015. Data and charts will be updated by Tuesday.
The CFTC today released Commitments of Traders reports that should have been released on Oct 4, with data tabulated as of Oct 1, 2013. The data and charts on this site have been updated accordingly. More updates will be posted when available.
The CFTC will begin catching up with Commitments of Traders releases that were miss due to the government shutdown. They expect to be fully current by November 8. The CFTC announcement is available herre: http://www.cftc.gov/PressRoom/PressReleases/pr6745-13
“October 17, 2013
CFTC Announcement Concerning Commitments of Trader and Cotton on Call Reports
Washington, DC – The U.S. Commodity Futures Trading Commission’s (CFTC) announced today that the Commitments of Traders and Cotton on Call reports previously scheduled for release on October 17th and October 18th respectively, will not be published this week. The CFTC is performing the work necessary to resume publishing these and other reports and will announce a revised schedule once more information becomes available.”
The CFTC will not publish COT data during the US government shutdown. (There is no other source for this information.)
Appointed by President Bush in 2007, Sommers previous job was chief lobbyist for the International Swaps and Derivatives Association, and is the poster child for “First, Do Nothing” in regulatory reform in the financial industry. As Commissioner, she opposed implementation of any regulation that might impact the ability of the four large swap dealers who account for 94% of swap contracts: JP Morgan/Chase, Bank of America, Citigroup, Goldman Sachs.
Watch the news. Best guess is she will land on her feet–in a plush office with a major bank.
Futures markets serve as a hedging devise for commodity producers and processors. In a perfect world of balanced supply and demand, commodity processors would contract directly with producers for future inventory needs at negotiated prices. In the real world, there are nearly always more producers wanting to sell than processors willing to buy, or visa-versa. This gap is bridged by speculators who step in to assume market risk—as temporary buyers or sellers—in exchange for a profit opportunity. If they did not exist, speculators would need to be invented in order for futures markets to function. Continue reading