🌾 Agriculture Futures Positioning
CFTC weekly report · Report Date: 2026-03-17
Corn Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Corn into speculator demand.
Spec:
312,342
(+54,561)
·
Comm:
-255,623
3Y Percentile
94%
Latest Week
Speculator Net
312,342
Commercial Net
-255,623
Small Trader Net
-56,719
Long/Short Ratio
2.96
Open Interest
1,773,499
Total Traders
819
Soybeans Futures
SQUEEZE2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
SQUEEZE
Long squeeze risk in Soybeans — specs unwinding from 3-year extreme. Distribution phase — commercials selling Soybeans into speculator demand.
Spec:
221,066
(-9,202)
·
Comm:
-190,501
3Y Percentile
96%
Latest Week
Speculator Net
221,066
Commercial Net
-190,501
Small Trader Net
-30,565
Long/Short Ratio
4.0
Open Interest
980,259
Total Traders
630
Wheat SRW Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Wheat SRW into speculator demand.
Spec:
-25,668
(+3,497)
·
Comm:
24,589
3Y Percentile
88%
Latest Week
Speculator Net
-25,668
Commercial Net
24,589
Small Trader Net
1,079
Long/Short Ratio
0.84
Open Interest
478,449
Total Traders
377
Wheat HRW Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Wheat HRW into speculator demand.
Spec:
7,579
(+1,531)
·
Comm:
-3,844
3Y Percentile
95%
Latest Week
Speculator Net
7,579
Commercial Net
-3,844
Small Trader Net
-3,735
Long/Short Ratio
1.1
Open Interest
301,414
Total Traders
254
Wheat HRS Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Wheat HRS into speculator demand.
Spec:
21,270
(+3,131)
·
Comm:
-19,577
3Y Percentile
100%
Latest Week
Speculator Net
21,270
Commercial Net
-19,577
Small Trader Net
-1,693
Long/Short Ratio
4.9
Open Interest
72,241
Total Traders
112
Canola Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Canola into speculator demand.
Spec:
94,423
(+21,664)
·
Comm:
-93,737
3Y Percentile
95%
Latest Week
Speculator Net
94,423
Commercial Net
-93,737
Small Trader Net
-686
Long/Short Ratio
2.74
Open Interest
364,217
Total Traders
337
Coffee Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Coffee into speculator demand.
Spec:
18,594
(+3,605)
·
Comm:
-19,064
3Y Percentile
17%
Latest Week
Speculator Net
18,594
Commercial Net
-19,064
Small Trader Net
470
Long/Short Ratio
1.57
Open Interest
173,683
Total Traders
347
Cocoa Futures
SQUEEZE2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
SQUEEZE
Short squeeze in Cocoa — specs covering extreme short positions. Commercials accumulating Cocoa while speculators exit — smart money positioning bullish.
Spec:
-17,859
(+2,991)
·
Comm:
17,491
3Y Percentile
2%
Latest Week
Speculator Net
-17,859
Commercial Net
17,491
Small Trader Net
368
Long/Short Ratio
0.71
Open Interest
189,306
Total Traders
210
Sugar Futures
SQUEEZE2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
SQUEEZE
Short squeeze in Sugar — specs covering extreme short positions. Distribution phase — commercials selling Sugar into speculator demand.
Spec:
-207,755
(+1,000)
·
Comm:
200,068
3Y Percentile
4%
Latest Week
Speculator Net
-207,755
Commercial Net
200,068
Small Trader Net
7,687
Long/Short Ratio
0.48
Open Interest
1,005,609
Total Traders
274
Cotton Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Cotton into speculator demand.
Spec:
16,225
(+37,256)
·
Comm:
-23,722
3Y Percentile
79%
Latest Week
Speculator Net
16,225
Commercial Net
-23,722
Small Trader Net
7,497
Long/Short Ratio
1.14
Open Interest
341,326
Total Traders
384
Orange Juice Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Orange Juice into speculator demand.
Spec:
2,091
(+612)
·
Comm:
-2,570
3Y Percentile
29%
Latest Week
Speculator Net
2,091
Commercial Net
-2,570
Small Trader Net
479
Long/Short Ratio
2.08
Open Interest
7,894
Total Traders
43
Lumber Futures
SQUEEZE2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
SQUEEZE
Short squeeze in Lumber — specs covering extreme short positions. Commercials accumulating Lumber while speculators exit — smart money positioning bullish. Open interest collapsing — unusual volume.
Spec:
-5,212
(+664)
·
Comm:
4,860
3Y Percentile
3%
Latest Week
Speculator Net
-5,212
Commercial Net
4,860
Small Trader Net
352
Long/Short Ratio
0.27
Open Interest
9,590
Total Traders
83
Soybean Meal Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Soybean Meal into speculator demand.
Spec:
102,538
(+3,360)
·
Comm:
-122,892
3Y Percentile
86%
Latest Week
Speculator Net
102,538
Commercial Net
-122,892
Small Trader Net
20,354
Long/Short Ratio
2.67
Open Interest
538,682
Total Traders
332
Soybean Oil Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Soybean Oil into speculator demand.
Spec:
120,097
(+18,346)
·
Comm:
-135,338
3Y Percentile
100%
Latest Week
Speculator Net
120,097
Commercial Net
-135,338
Small Trader Net
15,241
Long/Short Ratio
2.95
Open Interest
729,392
Total Traders
344
How to Read COT Data
Speculators (Non-Commercial)
Hedge funds, CTAs, and momentum traders. They follow trends and amplify moves. When their positioning reaches extremes, it often signals the trend is crowded and vulnerable to reversal.
Commercials (Hedgers)
Producers, refiners, and consumers who use futures to hedge their business. They tend to be contrarian — selling into rallies and buying dips. At extremes, they're historically on the right side.
The Percentile Bar
Shows where current speculator positioning ranks vs. the past 3 years. Above 80% = historically bullish, below 20% = historically bearish. Extremes (top/bottom 10%) are the highest-signal readings.
What To Watch For
The best signals come from extreme positioning + divergence: when speculators are max long but commercials are max short, it often precedes a reversal. The weekly change shows who's adding or liquidating.
Source: U.S. Commodity Futures Trading Commission (CFTC) Commitments of Traders reports. Data is published weekly with a 3-day lag.