🌾 Agriculture Futures Positioning
CFTC weekly report · Report Date: 2026-05-12
Corn Futures
SQUEEZE2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
SQUEEZE
Long squeeze risk in Corn — specs unwinding from 3-year extreme. Distribution phase — commercials selling Corn into speculator demand.
Spec:
383,537
(-49,847)
·
Comm:
-259,956
3Y Percentile
95%
Latest Week
Speculator Net
383,537
Commercial Net
-259,956
Small Trader Net
-123,581
Long/Short Ratio
3.05
Open Interest
1,892,694
Total Traders
832
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:
224,002
(-8,196)
·
Comm:
-188,103
3Y Percentile
95%
Latest Week
Speculator Net
224,002
Commercial Net
-188,103
Small Trader Net
-35,899
Long/Short Ratio
4.41
Open Interest
990,996
Total Traders
618
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:
-14,421
(+2,247)
·
Comm:
12,489
3Y Percentile
94%
Latest Week
Speculator Net
-14,421
Commercial Net
12,489
Small Trader Net
1,932
Long/Short Ratio
0.9
Open Interest
446,762
Total Traders
385
Wheat HRW Futures
SQUEEZE2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
SQUEEZE
Long squeeze risk in Wheat HRW — specs unwinding from 3-year extreme. Distribution phase — commercials selling Wheat HRW into speculator demand.
Spec:
14,225
(-146)
·
Comm:
-13,831
3Y Percentile
97%
Latest Week
Speculator Net
14,225
Commercial Net
-13,831
Small Trader Net
-394
Long/Short Ratio
1.21
Open Interest
297,542
Total Traders
261
Wheat HRS Futures
SQUEEZE2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
SQUEEZE
Long squeeze risk in Wheat HRS — specs unwinding from 3-year extreme. Distribution phase — commercials selling Wheat HRS into speculator demand.
Spec:
32,306
(-1,073)
·
Comm:
-32,846
3Y Percentile
99%
Latest Week
Speculator Net
32,306
Commercial Net
-32,846
Small Trader Net
540
Long/Short Ratio
6.54
Open Interest
89,086
Total Traders
112
Canola Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Canola while speculators exit — smart money positioning bullish.
Spec:
36,888
(-33,052)
·
Comm:
-36,144
3Y Percentile
81%
Latest Week
Speculator Net
36,888
Commercial Net
-36,144
Small Trader Net
-744
Long/Short Ratio
1.5
Open Interest
323,966
Total Traders
326
Coffee Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Coffee while speculators exit — smart money positioning bullish.
Spec:
21,059
(-6,566)
·
Comm:
-20,650
3Y Percentile
17%
Latest Week
Speculator Net
21,059
Commercial Net
-20,650
Small Trader Net
-409
Long/Short Ratio
1.63
Open Interest
182,249
Total Traders
343
Cocoa Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Cocoa into speculator demand.
Spec:
-12,981
(+7,253)
·
Comm:
11,896
3Y Percentile
10%
Latest Week
Speculator Net
-12,981
Commercial Net
11,896
Small Trader Net
1,085
Long/Short Ratio
0.78
Open Interest
194,369
Total Traders
216
Sugar Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Sugar into speculator demand.
Spec:
-97,418
(-1,899)
·
Comm:
86,059
3Y Percentile
19%
Latest Week
Speculator Net
-97,418
Commercial Net
86,059
Small Trader Net
11,359
Long/Short Ratio
0.7
Open Interest
961,423
Total Traders
283
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:
102,389
(+1,707)
·
Comm:
-117,159
3Y Percentile
100%
Latest Week
Speculator Net
102,389
Commercial Net
-117,159
Small Trader Net
14,770
Long/Short Ratio
3.26
Open Interest
335,218
Total Traders
371
Orange Juice Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Orange Juice while speculators exit — smart money positioning bullish.
Spec:
2,469
(+675)
·
Comm:
-2,770
3Y Percentile
46%
Latest Week
Speculator Net
2,469
Commercial Net
-2,770
Small Trader Net
301
Long/Short Ratio
2.33
Open Interest
8,144
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. Distribution phase — commercials selling Lumber into speculator demand.
Spec:
-5,079
(+187)
·
Comm:
5,002
3Y Percentile
6%
Latest Week
Speculator Net
-5,079
Commercial Net
5,002
Small Trader Net
77
Long/Short Ratio
0.25
Open Interest
9,348
Total Traders
75
Soybean Meal Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Soybean Meal while speculators exit — smart money positioning bullish.
Spec:
148,653
(+13,939)
·
Comm:
-161,960
3Y Percentile
99%
Latest Week
Speculator Net
148,653
Commercial Net
-161,960
Small Trader Net
13,307
Long/Short Ratio
4.0
Open Interest
591,426
Total Traders
316
Soybean Oil Futures
SQUEEZE2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
SQUEEZE
Long squeeze risk in Soybean Oil — specs unwinding from 3-year extreme. Distribution phase — commercials selling Soybean Oil into speculator demand.
Spec:
158,102
(-10,785)
·
Comm:
-169,607
3Y Percentile
98%
Latest Week
Speculator Net
158,102
Commercial Net
-169,607
Small Trader Net
11,505
Long/Short Ratio
4.08
Open Interest
704,130
Total Traders
343
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.