Hi guys,

Weekly Summary - Speculators

Index of speculators is 94%. Previous reading was 93%.

During the week speculators were buying at low speed. They bought 1374 contracts. Last 3 weeks show active buying pattern.

Speculators index sits not far from extreme levels. During last weeks index moved towards extreme values. Current market balance indicates limited bullish potential (and good potential for bears), however this indicator alone is not enough to make good decisions.

Weekly Summary - Producers

Index of producers is 15%. Previous reading was 19%.

During the week producers were selling at low speed. They sold 2769 contracts. Last 3 weeks show sporadic selling pattern.

Producers index sits in the lower quartile. During last weeks index moved towards extreme values. Current market balance indicates limited bullish potential (and good potential for bears), however this indicator alone is not enough to make good decisions.

Further analysis is on my site https://www.valknut-analytical.com

We have interesting situations in gold and silver - these two are highly correlated but GC shows a strong trend while SI shows signs of the end of the story. Both assets had significant distributions during the week so one might say that bullish phase has ended. However, there are some signs that point on continuation of bullish trend. Cotton seems to be bottoming but it is a bit early to call it (read regression analysis part of the report). Corn is in the depression zone, market can be bottoming but it is hard to read, there are controverting signals.