I use the Futures + Options report in lieu of the Futures only Commitments of Traders Report. The Futures + Options report is, obviously more comprehensive, and it is also the basis for the COT-Supplemental breakdown of Index Traders. Although the net position patterns may look almost identical for many markets, the actual position totals vary. This brings up an interesting point. In some markets, in some weeks, the totals for the Non-Commercial category may be larger on the Futures Only than on the Futures + Options report:
On April 22, the CFTC is holding a roundtable regarding problems caused by overspeculation in ag futures markets. Here is the list of invited participants.
For Release: April 15, 2008
Provides Various Ways to Access the Public Forum
Washington, DC – The Commodity Futures Trading Commission today released the participant list for the upcoming roundtable discussion on the agricultural markets. The roundtable is designed to gather information about whether the futures markets are properly performing their risk management and price discovery roles. Due to significant space limitations in the Commission’s hearing room, the CFTC is offering several avenues for interested members of the public to access the roundtable.
By Gene Epstein
CHINA, AS EVERYONE KNOWS, IS A BIG FORCE IN THE extraordinary boom in commodities. Its voracious appetite for everything from corn and wheat to copper and oil has helped push up U.S. commodities prices by some 50% over the past 12 months.
But China is by no means the whole story. Speculators — including small investors — are also playing a huge role. Thanks to the proliferation of mutual funds and exchange-traded funds tied to commodities indexes, speculative buying has gone way beyond anything the domestic commodities markets have ever seen. By one estimate, index funds right now account for 40% of all bullish bets on commodities. The speculative juices are even more plentiful — nearly 60% of bullish positions — if you count the bets placed by traditional commodity “pools.”
CFTC Announces Details of April 22 Agricultural Forum
Washington, DC – The Commodity Futures Trading Commission (CFTC) announced today further details about the upcoming roundtable discussion on the agricultural markets. The roundtable is designed to gather information about whether the futures markets are properly performing their risk management and price discovery roles.
The roundtable will consist of officials from the CFTC, U.S. Department of Agriculture, Farm Credit Administration, Federal Reserve System, and a broad spectrum of agricultural market participants, including producer groups, commodity merchandisers, commodity consumer and producer groups, financial firms, and futures exchanges. A complete participant list will be available before the forum.
Attendance and Comment
The roundtable will begin at 9:00 a.m. on Tuesday, April 22, 2008, in the Commission’s hearing room located on the ground floor of its headquarters – Three Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581. The hearing room doors will open at 8:30 a.m.
Due to significant space limitations, interested members of the public are strongly encouraged to use the following alternative options to access the hearing:
1. Watch live broadcast of the roundtable via Webcast on www.cftc.gov
2. Call in to a toll-free telephone line to connect to a live audio feed
Call-in participants should be prepared to provide their first name, last name, and affiliation. Conference call information is listed below.
Domestic Toll Free: 866-759-0291
International Toll: 763-416-8828
The conference ID: 43214239
Call leader name: “CFTC”
Because opportunities for questions and comments the day of the roundtable may be significantly limited, participants and members of the public may submit written statements for the official record up to two weeks following the roundtable.