The commitment-of-traders reports from the CFTC are definitely not timing indicators, and sometimes I wonder if they have any actionable information embedded in them at all, but they flag just enough activity to make you kick yourself if you miss a signal/pseudo-signal/hallucinatory pattern.
The underlying thesis is that the commercials have to win in aggregate. This is most true in the ag futures but across all the various instruments the thinking is: If the commercial hedgers don't win the game stops.
The speculators can hit the markets for a profit from time-to-time, in fact they must to keep hope alive, but over time the folks who deal in both the physical and derivative markets had better win or your groceries don't get delivered.
Further, your affiant sayeth naught. Except for "From FinViz":
The CoT report is the bottom panel in this chart, there is some correlation to their going long the futures and the price action in the upper panel. And this is the longest the commercials have been in over a year.
130.81 last.
