Futures positioning this week
Every Friday the US regulator, the CFTC, publishes who held what in the futures markets the Tuesday before. This page reads that report for 22 markets and shows, for one group of traders in each, how many contracts they are net long or short and how unusual that is against the last three years.
Positions as of Tue, 3 Nov 2026. Updated weekly.
How to read it
- Group
- For commodities, producers and merchants: the businesses that grow, mine, refine or use the physical thing and use futures to hedge it. For financial markets, leveraged funds: hedge funds and similar traders.
- Net
- Contracts held long minus contracts held short. Negative means the group is net short.
- Range
- Where this week's net sits between its lowest and highest reading of the last 156 weeks. 0 is the lowest net position the group has held in that time, 100 the highest. A group that is always net short can still read 100: it means the least short it has been.
At the edge of their range this week
- Crude oil (WTI): producers and merchants net 369,347, at 91 on the range (the top of where their net position has been in three years).
- Gold: producers and merchants net -8,912, at 100 on the range (the top of where their net position has been in three years).
- Silver: producers and merchants net -13,145, at 97 on the range (the top of where their net position has been in three years).
- Sugar: producers and merchants net -343,227, at 10 on the range (the bottom of where their net position has been in three years).
- Lean hogs: producers and merchants net 447, at 100 on the range (the top of where their net position has been in three years).
- Nasdaq 100 (E-mini): leveraged funds net 10,073, at 93 on the range (the top of where their net position has been in three years).
- US Treasury bond: leveraged funds net -166,257, at 96 on the range (the top of where their net position has been in three years).
- Euro: leveraged funds net -78,559, at 0 on the range (the bottom of where their net position has been in three years).
A reading at the edge says the position is unusual for that group. It says nothing about what the price does next; positions can stay at an extreme for months.
All markets
Energy
| Market | Net | Change on week | Range (0 to 100) |
|---|---|---|---|
| Crude oil (WTI) | 369,347 | +2,955 | 91 |
| Natural gas | -418 | +3,098 | 80 |
Group: producers and merchants.
Metals
| Market | Net | Change on week | Range (0 to 100) |
|---|---|---|---|
| Gold | -8,912 | +662 | 100 |
| Silver | -13,145 | +2,086 | 97 |
| Copper | -55,218 | +10,025 | 57 |
Group: producers and merchants.
Grains
| Market | Net | Change on week | Range (0 to 100) |
|---|---|---|---|
| Wheat | -6,500 | +11,861 | 64 |
| Corn | -411,258 | +51,087 | 46 |
| Soybeans | -221,446 | +33,947 | 29 |
Group: producers and merchants.
Softs
| Market | Net | Change on week | Range (0 to 100) |
|---|---|---|---|
| Coffee | -19,370 | +4,114 | 85 |
| Sugar | -343,227 | +13,728 | 10 |
| Cocoa | -23,250 | +2,005 | 70 |
| Cotton | -115,905 | +5,625 | 30 |
Group: producers and merchants.
Meats
| Market | Net | Change on week | Range (0 to 100) |
|---|---|---|---|
| Live cattle | -95,127 | +5,559 | 70 |
| Lean hogs | 447 | -622 | 100 |
Group: producers and merchants.
Equity indexes
| Market | Net | Change on week | Range (0 to 100) |
|---|---|---|---|
| S&P 500 (E-mini) | -372,318 | +28,286 | 44 |
| Nasdaq 100 (E-mini) | 10,073 | +7,772 | 93 |
Group: leveraged funds.
Treasuries
| Market | Net | Change on week | Range (0 to 100) |
|---|---|---|---|
| US 10-year note | -2,262,310 | -35,035 | 19 |
| US Treasury bond | -166,257 | -15,864 | 96 |
Group: leveraged funds.
Currencies
| Market | Net | Change on week | Range (0 to 100) |
|---|---|---|---|
| Euro | -78,559 | -6,985 | 0 |
| British pound | 26,663 | +9,468 | 41 |
| Japanese yen | -14,817 | -187 | 65 |
| US dollar index | 3,311 | +153 | 55 |
Group: leveraged funds.
Method and limits
- Source: the CFTC's Commitments of Traders reports, read from its public data service. Commodities use the disaggregated report, financial markets the Traders in Financial Futures report. Futures only.
- The report is three days old when it is published, so positions may have changed since.
- Hedgers are usually on the other side of the trade from speculators, so a producer group that is heavily short often just means there is a lot to hedge.
- The range is a simple minimum-to-maximum scale over 156 weekly reports. One odd week sets the edge for the next three years.
This page restates public figures and describes them. It is information, not investment advice, and it makes no statement about what any market will do.