December natural gas prices saw follow-through weakness from Friday's downdraft overnight and fell to their lowest level since September 27th. Perhaps some of the weakness came from the latest six to 10 day weather maps calling for normal to above normal temperatures across the eastern half of the country into November 14th. The Commitments of Traders Futures and Options report as of October 30th showed non-commercial traders were net short 52,405 contracts, a decrease of 8,303. Non-commercial and nonreportable traders combined held a net short position of 8,486 contracts, for a decrease of 4,569 in their net short positioning.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.