The latest Commitments of Traders report was released, covering positions through Tuesday
The 3-Year Min/Max Screen shows that "smart money" commercial hedgers once again moved to multi-year extreme long exposure to the Aussie dollar, which is closing in on a record in terms of the absolute number of contracts as well as a % of open interest. They sold heavily into the rally in cotton, moving close to record short exposure. They're now holding a record number of palladium contracts net long and haven't held this much of the open interest net long in 20 years. The moves in the most widely-traded precious metals haven't spurred them enough to near extremes in either gold or silver. They have the least short exposure in a couple of years, but it's far from other major bottoms when hedgers went net long or nearly so.
