CFTC COT report for 21 January 2025
Week-ended positions · TFF Futures Only and Disaggregated Futures Only · 42 reviewed markets · processed 26 Jul 2026, 17:39
Financial TFF: available · Commodity Disaggregated: available
Official CFTC sourceLargest Leveraged Fund changes
TFF financial futures ranked by absolute weekly contract change.
| Report date | Market | Participant | Long | Short | Net | Weekly change | 4-report change | 52-report context |
|---|---|---|---|---|---|---|---|---|
| 2025-01-21 | US 2Y | Leveraged Funds | 394,931 | 2,515,720 | -2,120,789 | +125,153 | +285,410 | 60th percentile |
| 2025-01-21 | S&P 500 | Leveraged Funds | 138,324 | 525,999 | -387,675 | -90,310 | -55,972 | 17th percentile |
| 2025-01-21 | US 10Y | Leveraged Funds | 449,978 | 1,802,008 | -1,352,030 | -84,419 | +120,437 | 63th percentile |
| 2025-01-21 | US 5Y | Leveraged Funds | 373,191 | 3,069,688 | -2,696,497 | +30,951 | +70,027 | 60th percentile |
| 2025-01-21 | US Bond | Leveraged Funds | 338,455 | 767,818 | -429,363 | +28,447 | +64,872 | 54th percentile |
| 2025-01-21 | JPY | Leveraged Funds | 27,591 | 67,227 | -39,636 | +12,745 | -2,195 | 58th percentile |
| 2025-01-21 | Russell 2000 | Leveraged Funds | 45,417 | 99,861 | -54,444 | -8,188 | -12,115 | 44th percentile |
| 2025-01-21 | VIX | Leveraged Funds | 45,649 | 80,950 | -35,301 | -6,804 | -39,992 | 15th percentile |
Largest Asset Manager/Institutional changes
Ranked separately because official participant categories should not be combined.
| Report date | Market | Participant | Long | Short | Net | Weekly change | 4-report change | 52-report context |
|---|---|---|---|---|---|---|---|---|
| 2025-01-21 | US 2Y | Asset Manager/Institutional | 2,317,912 | 327,759 | +1,990,153 | -119,045 | -202,326 | 58th percentile |
| 2025-01-21 | US 5Y | Asset Manager/Institutional | 3,559,236 | 670,504 | +2,888,732 | -37,181 | +3,052 | 75th percentile |
| 2025-01-21 | US 10Y | Asset Manager/Institutional | 2,530,971 | 860,714 | +1,670,257 | +36,366 | +82,228 | 88th percentile |
| 2025-01-21 | US Bond | Asset Manager/Institutional | 1,016,184 | 496,044 | +520,140 | -29,139 | -88,579 | 75th percentile |
| 2025-01-21 | CAD | Asset Manager/Institutional | 33,303 | 166,181 | -132,878 | +22,170 | +26,686 | 29th percentile |
| 2025-01-21 | GBP | Asset Manager/Institutional | 43,354 | 107,685 | -64,331 | -9,102 | -2,687 | 21th percentile |
| 2025-01-21 | S&P 500 | Asset Manager/Institutional | 1,113,434 | 180,701 | +932,733 | +7,141 | -108,351 | 21th percentile |
| 2025-01-21 | JPY | Asset Manager/Institutional | 50,196 | 63,403 | -13,207 | +6,902 | -3,273 | 69th percentile |
Largest Managed Money commodity changes
Disaggregated commodity futures ranked independently from TFF categories.
| Report date | Market | Participant | Long | Short | Spread | Net | Weekly change | Net / OI | 4-report change | 52-report context |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-01-21 | Sugar No. 11 | Managed Money | 129,116 | 177,347 | 106,416 | -48,231 | -50,423 | -4.86% | -115,380 | 2th percentile |
| 2025-01-21 | Corn | Managed Money | 424,992 | 103,308 | 313,045 | +321,684 | +29,521 | 16.55% | +156,078 | 100th percentile |
| 2025-01-21 | Gold | Managed Money | 226,964 | 11,095 | 62,339 | +215,869 | +20,247 | 37.77% | +50,372 | 96th percentile |
| 2025-01-21 | Soybean Oil | Managed Money | 79,054 | 52,245 | 70,147 | +26,809 | +18,618 | 4.77% | +49,223 | 87th percentile |
| 2025-01-21 | WTI Crude Oil | Managed Money | 285,606 | 38,161 | 397,136 | +247,445 | +11,203 | 13.25% | +60,531 | 96th percentile |
| 2025-01-21 | Natural Gas | Managed Money | 191,688 | 143,789 | 567,448 | +47,899 | -8,961 | 2.99% | +50,608 | 98th percentile |
| 2025-01-21 | Lean Hogs | Managed Money | 101,352 | 10,659 | 41,329 | +90,693 | -7,622 | 29.92% | -26,324 | 71th percentile |
| 2025-01-21 | Soybeans | Managed Money | 144,412 | 78,491 | 93,855 | +65,921 | +7,594 | 7.72% | +119,721 | 100th percentile |
Largest Producer/Merchant/Processor/User changes
Physical commodity business participants remain in their official category.
| Report date | Market | Participant | Long | Short | Spread | Net | Weekly change | Net / OI | 4-report change | 52-report context |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-01-21 | Sugar No. 11 | Producer/Merchant/Processor/User | 341,491 | 304,992 | — | +36,499 | +66,117 | 3.67% | +134,415 | 100th percentile |
| 2025-01-21 | Corn | Producer/Merchant/Processor/User | 407,046 | 1,064,955 | — | -657,909 | -59,712 | -33.86% | -197,627 | 2th percentile |
| 2025-01-21 | Soybeans | Producer/Merchant/Processor/User | 299,843 | 426,309 | — | -126,466 | -17,229 | -14.81% | -136,140 | 2th percentile |
| 2025-01-21 | Natural Gas | Producer/Merchant/Processor/User | 204,090 | 296,149 | — | -92,059 | -16,532 | -5.74% | -62,744 | 23th percentile |
| 2025-01-21 | Chicago SRW Wheat | Producer/Merchant/Processor/User | 63,006 | 59,957 | — | +3,049 | -10,027 | 0.64% | -21,447 | 90th percentile |
| 2025-01-21 | Gold | Producer/Merchant/Processor/User | 20,111 | 100,717 | — | -80,606 | -6,619 | -14.10% | -5,817 | 4th percentile |
| 2025-01-21 | Copper | Producer/Merchant/Processor/User | 24,818 | 67,784 | — | -42,966 | -5,765 | -19.77% | -11,195 | 63th percentile |
| 2025-01-21 | Live Cattle | Producer/Merchant/Processor/User | 42,289 | 188,323 | — | -146,034 | +5,127 | -38.56% | -7,220 | 8th percentile |
Net-position flips
Crossings from net-long to net-short or the reverse relative to the preceding available report.
| Report date | Market | Participant | Long | Short | Spread | Net | Weekly change | Net / OI | 4-report change | 52-report context |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-01-21 | Dow Jones | Asset Manager/Institutional | 14,249 | 11,244 | — | +3,005 | +6,334 | 3.67% | +2,723 | 29th percentile |
| 2025-01-21 | Russell 2000 | Other Reportables | 15,564 | 18,421 | — | -2,857 | -3,009 | -0.65% | -6,235 | 40th percentile |
| 2025-01-21 | GBP | Other Reportables | 3,131 | 3,130 | — | +1 | +2,581 | 0.00% | +3,016 | 79th percentile |
| 2025-01-21 | JPY | Dealer/Intermediary | 17,792 | 24,265 | — | -6,473 | -30,333 | -3.05% | -4,202 | 31th percentile |
| 2025-01-21 | JPY | Non-Reportable | 43,642 | 37,798 | — | +5,844 | +7,456 | 2.76% | +11,838 | 92th percentile |
| 2025-01-21 | VIX | Non-Reportable | 41,409 | 38,778 | — | +2,631 | +4,082 | 0.72% | +6,452 | 90th percentile |
| 2025-01-21 | Ultra Bond | Non-Reportable | 175,998 | 175,354 | — | +644 | +8,549 | 0.03% | +5,095 | 17th percentile |
| 2025-01-21 | Soybean Oil | Non-Reportable | 29,376 | 28,145 | — | +1,231 | +1,663 | 0.21% | -245 | 21th percentile |
| 2025-01-21 | Sugar No. 11 | Producer/Merchant/Processor/User | 341,491 | 304,992 | — | +36,499 | +66,117 | 3.67% | +134,415 | 100th percentile |
| 2025-01-21 | Sugar No. 11 | Swap Dealer | 134,128 | 135,739 | 62,742 | -1,611 | -21,316 | -0.16% | -32,289 | 31th percentile |
| 2025-01-21 | Sugar No. 11 | Managed Money | 129,116 | 177,347 | 106,416 | -48,231 | -50,423 | -4.86% | -115,380 | 2th percentile |
| 2025-01-21 | NY Harbor ULSD | Managed Money | 42,626 | 38,974 | 30,007 | +3,652 | +4,135 | 1.00% | +22,344 | 73th percentile |