CFTC COT report for 25 March 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 |
|---|---|---|---|---|---|---|---|---|
| 2025-03-25 | US 2Y | Leveraged Funds | 371,536 | 2,116,862 | -1,745,326 | +114,633 | +144,053 | 96th percentile |
| 2025-03-25 | S&P 500 | Leveraged Funds | 168,249 | 402,856 | -234,607 | -46,107 | +101,411 | 87th percentile |
| 2025-03-25 | Russell 2000 | Leveraged Funds | 65,195 | 84,465 | -19,270 | -37,539 | +12,228 | 94th percentile |
| 2025-03-25 | Nasdaq-100 | Leveraged Funds | 30,225 | 66,115 | -35,890 | -36,947 | -8,019 | 83th percentile |
| 2025-03-25 | US 10Y | Leveraged Funds | 424,081 | 1,979,943 | -1,555,862 | +36,909 | -224,363 | 46th percentile |
| 2025-03-25 | Ultra Bond | Leveraged Funds | 94,978 | 607,414 | -512,436 | +18,418 | -2,906 | 96th percentile |
| 2025-03-25 | US Bond | Leveraged Funds | 134,326 | 644,289 | -509,963 | -15,952 | -39,394 | 33th percentile |
| 2025-03-25 | CAD | Leveraged Funds | 17,877 | 67,999 | -50,122 | +13,400 | +16,755 | 83th 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 |
|---|---|---|---|---|---|---|---|---|
| 2025-03-25 | US 2Y | Asset Manager/Institutional | 2,027,844 | 327,291 | +1,700,553 | -97,550 | -133,237 | 19th percentile |
| 2025-03-25 | S&P 500 | Asset Manager/Institutional | 1,117,841 | 202,515 | +915,326 | +83,469 | -5,814 | 17th percentile |
| 2025-03-25 | US 5Y | Asset Manager/Institutional | 3,749,322 | 628,005 | +3,121,317 | +46,024 | +147,456 | 94th percentile |
| 2025-03-25 | US Bond | Asset Manager/Institutional | 1,099,970 | 539,865 | +560,105 | +40,573 | -448 | 87th percentile |
| 2025-03-25 | Ultra Bond | Asset Manager/Institutional | 1,094,347 | 421,189 | +673,158 | -24,829 | -19,620 | 15th percentile |
| 2025-03-25 | CAD | Asset Manager/Institutional | 32,203 | 161,425 | -129,222 | +9,382 | +9,134 | 50th percentile |
| 2025-03-25 | GBP | Asset Manager/Institutional | 67,411 | 72,801 | -5,390 | +7,738 | +41,908 | 81th percentile |
| 2025-03-25 | US 10Y | Asset Manager/Institutional | 2,665,260 | 945,335 | +1,719,925 | +6,962 | +192,806 | 92th 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-03-25 | Corn | Managed Money | 230,554 | 156,634 | 346,383 | +73,920 | -30,510 | 4.01% | -259,923 | 65th percentile |
| 2025-03-25 | Sugar No. 11 | Managed Money | 159,366 | 66,640 | 102,329 | +92,726 | +24,736 | 10.31% | +43,495 | 83th percentile |
| 2025-03-25 | Natural Gas | Managed Money | 193,766 | 153,011 | 576,586 | +40,755 | -24,358 | 2.53% | -66,065 | 77th percentile |
| 2025-03-25 | Soybean Meal | Managed Money | 55,274 | 137,760 | 98,032 | -82,486 | -22,360 | -14.28% | -21,211 | 8th percentile |
| 2025-03-25 | Live Cattle | Managed Money | 155,229 | 18,637 | 50,142 | +136,592 | +18,563 | 34.03% | +16,582 | 90th percentile |
| 2025-03-25 | Soybean Oil | Managed Money | 68,773 | 112,161 | 91,770 | -43,388 | -16,963 | -7.27% | -88,269 | 38th percentile |
| 2025-03-25 | Soybeans | Managed Money | 89,649 | 123,470 | 139,427 | -33,821 | -15,837 | -3.96% | -57,535 | 63th percentile |
| 2025-03-25 | Copper | Managed Money | 80,018 | 43,322 | 38,033 | +36,696 | +12,744 | 14.56% | +18,039 | 71th 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-03-25 | Corn | Producer/Merchant/Processor/User | 434,489 | 857,635 | — | -423,146 | +51,867 | -22.97% | +245,919 | 31th percentile |
| 2025-03-25 | Soybean Meal | Producer/Merchant/Processor/User | 162,622 | 241,883 | — | -79,261 | +17,991 | -13.72% | +17,639 | 94th percentile |
| 2025-03-25 | Soybean Oil | Producer/Merchant/Processor/User | 169,896 | 264,840 | — | -94,944 | +16,677 | -15.91% | +73,215 | 81th percentile |
| 2025-03-25 | Live Cattle | Producer/Merchant/Processor/User | 50,096 | 195,873 | — | -145,777 | -14,891 | -36.32% | -12,465 | 13th percentile |
| 2025-03-25 | Sugar No. 11 | Producer/Merchant/Processor/User | 270,112 | 327,212 | — | -57,100 | -12,197 | -6.35% | +15,765 | 54th percentile |
| 2025-03-25 | NY Harbor ULSD | Producer/Merchant/Processor/User | 93,831 | 162,760 | — | -68,929 | -6,737 | -21.14% | +24,533 | 73th percentile |
| 2025-03-25 | Chicago SRW Wheat | Producer/Merchant/Processor/User | 70,331 | 65,259 | — | +5,072 | +6,338 | 1.09% | +15,537 | 88th percentile |
| 2025-03-25 | Natural Gas | Producer/Merchant/Processor/User | 207,858 | 238,234 | — | -30,376 | +5,707 | -1.89% | +50,074 | 81th 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-03-25 | Dow Jones | Asset Manager/Institutional | 15,816 | 14,037 | — | +1,779 | +5,434 | 2.38% | +2,266 | 27th percentile |
| 2025-03-25 | Dow Jones | Leveraged Funds | 7,699 | 9,365 | — | -1,666 | -11,073 | -2.23% | -1,917 | 12th percentile |
| 2025-03-25 | Nasdaq-100 | Leveraged Funds | 30,225 | 66,115 | — | -35,890 | -36,947 | -16.00% | -8,019 | 83th percentile |
| 2025-03-25 | Russell 2000 | Leveraged Funds | 65,195 | 84,465 | — | -19,270 | -37,539 | -4.82% | +12,228 | 94th percentile |
| 2025-03-25 | JPY | Leveraged Funds | 41,782 | 41,473 | — | +309 | +6,142 | 0.10% | +12,029 | 88th percentile |
| 2025-03-25 | NZD | Other Reportables | 936 | 631 | — | +305 | +1,086 | 0.37% | -5,388 | 58th percentile |
| 2025-03-25 | VIX | Non-Reportable | 27,278 | 21,130 | — | +6,148 | +7,846 | 2.00% | +5,138 | 100th percentile |
| 2025-03-25 | US 10Y | Other Reportables | 389,754 | 395,258 | — | -5,504 | -53,888 | -0.11% | -50,257 | 2th percentile |
| 2025-03-25 | Soybean Oil | Non-Reportable | 28,244 | 29,777 | — | -1,533 | -2,674 | -0.25% | -10,222 | 2th percentile |
| 2025-03-25 | Chicago SRW Wheat | Producer/Merchant/Processor/User | 70,331 | 65,259 | — | +5,072 | +6,338 | 1.09% | +15,537 | 88th percentile |
| 2025-03-25 | Copper | Other Reportables | 26,067 | 28,659 | 19,718 | -2,592 | -3,832 | -1.02% | -2,957 | 21th percentile |