United StatesUS CFTC Copper Speculative net positions fell to 37.7K in October 2026
US CFTC Copper Speculative net positions fell to 37.7K in October 2026, released November 2026, down 10.6K from September's 48.3K reading.
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Forecasts generated by Sigmanomics engine. Not financial advice.
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Method: consensus + ½ × mean(surprise, trailing 90d).
THE RELEASE
CFTC Copper Speculative net positions (United States) was reported at 38 thousand in November 2026. The reading fell from the previous value of 48 thousand. Trailing 12-month context per ETL data through November 2026. Over the past 12 months, the indicator has averaged 62 thousand, ranging from 33 thousand to 93 thousand across 44 releases.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 48 thousand, down from the prior three at 74 thousand. Volatility over the past year (σ 15 thousand) is lower than the prior year (σ 4,926 thousand). In November readings over the past 3 years, CFTC Copper Speculative net positions has averaged 9,999 thousand.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with AAPL (Bullish AAPL).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Fed Schmid Speech (Nov 10) and Fed Bowman Speech (Nov 10).
Auto-generated from current model state · Refreshes on each release · Last update November 2026.
CFTC Copper Speculative net positions - US
About CFTC Copper Speculative net positions — United States
DEFINITION
The CFTC Copper Speculative net positions is a financial indicator that measures the difference between the number of long and short positions held by speculators in the copper market. This data is released weekly by the Commodity Futures Trading Commission (CFTC) and provides valuable insights into the sentiment and expectations of market participants towards copper prices. It is widely used by investors, traders, and analysts to gauge the level of bullish or bearish sentiment in the copper market and make informed decisions about their investments.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Nov 2026): actual 37.7 K. Prior reading (Oct 2026): 48.3 K. Before that (Oct 2026, first reported): 57.4 K.
WHAT'S NEXT
Sigmacast's 1-month forecast is 27.43K (latest print 37.7K). The 3-month forecast is 6.9K. The projection is based on the indicator's own recent trend.
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Economic Calendar - US Events
| Monday, November 9, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 15:00 | US | Wholesale Inventories MoM | 0.7 | 0.6 | 0.6 | 0.65 | Low |
| 15:00 | US | Wholesale Sales MoM | 2.8 | 2 | 1.1 | 1.95 | Low |
| 16:00 | US | Consumer Inflation Expectation | 3.9 | 3.9 | 3.8 | 3.85 | Low |
| 16:30 | US | 3-Month Bill Auction | 4.06 | 4.04 | 4.009 | 4.03 | Low |
| Tuesday, November 10, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 11:00 | US | NFIB Business Optimism Index | 97.8 | 97.9 | 97.7 | 98.30 | Low |
| 13:30 | US | CPI s.a | 337.48 | 336.3 | 337 | 337.17 | High |
| 13:30 | US | Inflation Rate MoM | 0.4 | 0.6 | 0.3 | 0.33 | High |
| 13:30 | US | Core Inflation Rate MoM | 0.3 | 0.3 | 0.2 | 0.23 | High |
| 13:30 | US | CPI | 337.51 | 336.94 | 337.02 | 337.13 | High |
| 13:55 | US | Redbook YoY | 10.1 | 10.4 | 9.3 | 9.70 | Low |
| 21:30 | US | API Crude Oil Stock Change | -5.267 | -1 | 3.79 | Medium | |
| Wednesday, November 11, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 19:00 | US | Budget Balance | -27 | -298 | -339.85 | Medium | |