🌾 Agriculture Futures Positioning
CFTC weekly report · Report Date: 2026-10-20
Corn Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Corn while speculators exit — smart money positioning bullish.
Spec:
286,689
(-71,678)
·
Comm:
-261,080
3Y Percentile
82%
Latest Week
Speculator Net
286,689
Commercial Net
-261,080
Small Trader Net
-25,609
Long/Short Ratio
2.46
Open Interest
1,835,658
Total Traders
843
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. Commercials accumulating Soybeans while speculators exit — smart money positioning bullish.
Spec:
246,596
(-24,503)
·
Comm:
-221,638
3Y Percentile
95%
Latest Week
Speculator Net
246,596
Commercial Net
-221,638
Small Trader Net
-24,958
Long/Short Ratio
3.94
Open Interest
1,093,612
Total Traders
636
Wheat SRW Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Wheat SRW while speculators exit — smart money positioning bullish.
Spec:
-29,270
(-11,664)
·
Comm:
29,782
3Y Percentile
68%
Latest Week
Speculator Net
-29,270
Commercial Net
29,782
Small Trader Net
-512
Long/Short Ratio
0.82
Open Interest
516,379
Total Traders
403
Wheat HRW Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Wheat HRW while speculators exit — smart money positioning bullish.
Spec:
2,327
(-7,474)
·
Comm:
1,191
3Y Percentile
82%
Latest Week
Speculator Net
2,327
Commercial Net
1,191
Small Trader Net
-3,518
Long/Short Ratio
1.04
Open Interest
320,369
Total Traders
267
Wheat HRS Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Wheat HRS while speculators exit — smart money positioning bullish.
Spec:
5,093
(-4,825)
·
Comm:
-4,638
3Y Percentile
80%
Latest Week
Speculator Net
5,093
Commercial Net
-4,638
Small Trader Net
-455
Long/Short Ratio
1.41
Open Interest
73,377
Total Traders
119
Oats Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Oats while speculators exit — smart money positioning bullish.
Spec:
1,032
·
Comm:
-1,834
3Y Percentile
88%
Latest Week
Speculator Net
1,032
Commercial Net
-1,834
Small Trader Net
802
Long/Short Ratio
2.67
Open Interest
4,097
Total Traders
20
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:
61,674
(-34,940)
·
Comm:
-61,259
3Y Percentile
78%
Latest Week
Speculator Net
61,674
Commercial Net
-61,259
Small Trader Net
-415
Long/Short Ratio
1.8
Open Interest
333,712
Total Traders
341
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:
20,132
(+6,596)
·
Comm:
-21,763
3Y Percentile
13%
Latest Week
Speculator Net
20,132
Commercial Net
-21,763
Small Trader Net
1,631
Long/Short Ratio
1.71
Open Interest
170,911
Total Traders
345
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:
-7,077
(+1,659)
·
Comm:
5,363
3Y Percentile
21%
Latest Week
Speculator Net
-7,077
Commercial Net
5,363
Small Trader Net
1,714
Long/Short Ratio
0.81
Open Interest
178,141
Total Traders
200
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:
228,816
(+1,842)
·
Comm:
-286,564
3Y Percentile
99%
Latest Week
Speculator Net
228,816
Commercial Net
-286,564
Small Trader Net
57,748
Long/Short Ratio
2.18
Open Interest
1,210,639
Total Traders
298
Cotton Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Cotton while speculators exit — smart money positioning bullish.
Spec:
94,521
(+214)
·
Comm:
-100,837
3Y Percentile
88%
Latest Week
Speculator Net
94,521
Commercial Net
-100,837
Small Trader Net
6,316
Long/Short Ratio
3.94
Open Interest
401,293
Total Traders
342
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:
237
(-235)
·
Comm:
-388
3Y Percentile
6%
Latest Week
Speculator Net
237
Commercial Net
-388
Small Trader Net
151
Long/Short Ratio
1.06
Open Interest
9,438
Total Traders
55
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.
Spec:
-5,510
(+251)
·
Comm:
5,178
3Y Percentile
5%
Latest Week
Speculator Net
-5,510
Commercial Net
5,178
Small Trader Net
332
Long/Short Ratio
0.29
Open Interest
10,226
Total Traders
95
Soybean Meal Futures
SQUEEZE2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
SQUEEZE
Long squeeze risk in Soybean Meal — specs unwinding from 3-year extreme. Commercials accumulating Soybean Meal while speculators exit — smart money positioning bullish.
Spec:
206,000
(-11,302)
·
Comm:
-229,210
3Y Percentile
97%
Latest Week
Speculator Net
206,000
Commercial Net
-229,210
Small Trader Net
23,210
Long/Short Ratio
6.03
Open Interest
635,401
Total Traders
359
Soybean Oil Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Soybean Oil while speculators exit — smart money positioning bullish.
Spec:
81,627
(-27,696)
·
Comm:
-93,393
3Y Percentile
79%
Latest Week
Speculator Net
81,627
Commercial Net
-93,393
Small Trader Net
11,766
Long/Short Ratio
2.58
Open Interest
570,462
Total Traders
324
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.