Commodities Dashboard: Curve Structure, Volatility, Momentum and Positioning – Oct 19 update

This is our weekly dashboard which provides curve structure, volatility, momentum and positioning data update across major commodity markets. Our Curve Structure Dashboard shows WTI, Brent, RBOB gasoline, gasoil, heating oil, and sugar as the most backwardated commodities, and gold, silver, COMEX copper, nickel, and lean hogs as the most contangoed commodities as measured by the 1-year backwardation levels and historical ranks. Our Volatility Dashboard indicates relatively rich volatility premia for HH natgas, gasoline and coffee as measured by the difference between 3M implied volatility and 1M realized volatility. Our Momentum Dashboard shows weak momentum/oversold signal for aluminium and corn. Our COT Positioning Dashboard shows historically strong speculator positioning on RBOB gasoline, aluminium, zinc, CBOT grains, sugar and cotton, vs weak speculator positioning on HH natgas, silver, palladium, lead, cocoa, live cattle, and lean hogs.