CFTC COT report for 20 May 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 |
|---|---|---|---|---|---|---|---|---|
| 2025-05-20 | US 2Y | Leveraged Funds | 447,234 | 2,263,787 | -1,816,553 | +34,760 | +124,151 | 88th percentile |
| 2025-05-20 | Ultra Bond | Leveraged Funds | 77,123 | 681,698 | -604,575 | -26,734 | -47,859 | 48th percentile |
| 2025-05-20 | US 5Y | Leveraged Funds | 394,327 | 3,866,964 | -3,472,637 | +16,241 | -27,562 | 8th percentile |
| 2025-05-20 | VIX | Leveraged Funds | 52,730 | 59,114 | -6,384 | -14,153 | +29,415 | 73th percentile |
| 2025-05-20 | EUR | Leveraged Funds | 83,874 | 76,941 | +6,933 | -13,220 | -7,777 | 69th percentile |
| 2025-05-20 | S&P 500 | Leveraged Funds | 150,431 | 448,993 | -298,562 | -9,907 | -46,729 | 48th percentile |
| 2025-05-20 | US 10Y | Leveraged Funds | 198,299 | 2,145,615 | -1,947,316 | -8,310 | -170,369 | 19th percentile |
| 2025-05-20 | US Bond | Leveraged Funds | 53,881 | 613,832 | -559,951 | +6,078 | +31,003 | 13th 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 |
|---|---|---|---|---|---|---|---|---|
| 2025-05-20 | US 5Y | Asset Manager/Institutional | 4,098,745 | 767,341 | +3,331,404 | -63,080 | -104,870 | 92th percentile |
| 2025-05-20 | US 10Y | Asset Manager/Institutional | 2,809,356 | 707,398 | +2,101,958 | -61,021 | +30,138 | 96th percentile |
| 2025-05-20 | US 2Y | Asset Manager/Institutional | 2,220,166 | 377,414 | +1,842,752 | -30,250 | -187,034 | 19th percentile |
| 2025-05-20 | S&P 500 | Asset Manager/Institutional | 1,123,523 | 250,081 | +873,442 | +17,364 | +60,323 | 17th percentile |
| 2025-05-20 | CAD | Asset Manager/Institutional | 34,175 | 116,443 | -82,268 | -14,204 | -25,047 | 73th percentile |
| 2025-05-20 | Ultra Bond | Asset Manager/Institutional | 1,243,138 | 517,031 | +726,107 | +11,638 | +10,871 | 60th percentile |
| 2025-05-20 | US Bond | Asset Manager/Institutional | 1,130,324 | 522,396 | +607,928 | -11,397 | -48,037 | 88th percentile |
| 2025-05-20 | AUD | Asset Manager/Institutional | 35,603 | 70,038 | -34,435 | -6,940 | -29,413 | 50th 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-05-20 | Corn | Managed Money | 190,130 | 285,613 | 227,876 | -95,483 | -31,211 | -5.82% | -227,897 | 38th percentile |
| 2025-05-20 | Soybeans | Managed Money | 125,737 | 94,407 | 128,851 | +31,330 | -24,337 | 3.70% | -21,915 | 79th percentile |
| 2025-05-20 | Chicago SRW Wheat | Managed Money | 93,184 | 193,725 | 111,715 | -100,541 | +20,000 | -21.03% | -18,680 | 13th percentile |
| 2025-05-20 | NY Harbor ULSD | Managed Money | 38,075 | 34,678 | 34,330 | +3,397 | +19,778 | 0.96% | +14,344 | 87th percentile |
| 2025-05-20 | Natural Gas | Managed Money | 140,877 | 197,379 | 514,972 | -56,502 | -17,979 | -3.77% | -30,879 | 31th percentile |
| 2025-05-20 | Soybean Oil | Managed Money | 107,416 | 51,820 | 100,212 | +55,596 | -11,058 | 9.34% | -76 | 87th percentile |
| 2025-05-20 | Cotton No. 2 | Managed Money | 33,637 | 75,523 | 33,376 | -41,886 | -10,388 | -17.74% | -2,712 | 44th percentile |
| 2025-05-20 | Lean Hogs | Managed Money | 97,136 | 9,329 | 47,183 | +87,807 | +9,828 | 28.48% | +32,118 | 63th 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-05-20 | Corn | Producer/Merchant/Processor/User | 423,061 | 648,349 | — | -225,288 | +18,913 | -13.75% | +196,324 | 60th percentile |
| 2025-05-20 | NY Harbor ULSD | Producer/Merchant/Processor/User | 118,986 | 197,198 | — | -78,212 | -15,461 | -22.12% | -9,653 | 52th percentile |
| 2025-05-20 | Chicago SRW Wheat | Producer/Merchant/Processor/User | 90,281 | 55,748 | — | +34,533 | -11,997 | 7.22% | +11,083 | 94th percentile |
| 2025-05-20 | Natural Gas | Producer/Merchant/Processor/User | 207,703 | 221,655 | — | -13,952 | -11,118 | -0.93% | -11,802 | 90th percentile |
| 2025-05-20 | Soybeans | Producer/Merchant/Processor/User | 256,476 | 412,072 | — | -155,596 | +10,601 | -18.41% | -8,529 | 4th percentile |
| 2025-05-20 | Cotton No. 2 | Producer/Merchant/Processor/User | 55,007 | 64,993 | — | -9,986 | +10,336 | -4.23% | +11,604 | 54th percentile |
| 2025-05-20 | Live Cattle | Producer/Merchant/Processor/User | 52,877 | 180,581 | — | -127,704 | +8,107 | -32.67% | +867 | 44th percentile |
| 2025-05-20 | Soybean Oil | Producer/Merchant/Processor/User | 128,857 | 309,774 | — | -180,917 | +7,700 | -30.41% | -12,548 | 21th 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-05-20 | CHF | Non-Reportable | 13,558 | 15,089 | — | -1,531 | -1,601 | -2.09% | -263 | 87th percentile |
| 2025-05-20 | NZD | Other Reportables | 904 | 586 | — | +318 | +623 | 0.52% | +86 | 63th percentile |
| 2025-05-20 | NZD | Non-Reportable | 3,626 | 4,234 | — | -608 | -1,104 | -0.99% | -54 | 58th percentile |
| 2025-05-20 | Bitcoin | Other Reportables | 2,297 | 3,495 | — | -1,198 | -1,412 | -3.73% | -3,725 | 4th percentile |
| 2025-05-20 | Bitcoin | Non-Reportable | 1,466 | 1,206 | — | +260 | +981 | 0.81% | +66 | 42th percentile |
| 2025-05-20 | VIX | Leveraged Funds | 52,730 | 59,114 | — | -6,384 | -14,153 | -2.12% | +29,415 | 73th percentile |
| 2025-05-20 | Sugar No. 11 | Non-Reportable | 62,245 | 69,004 | — | -6,759 | -9,111 | -0.83% | -6,026 | 8th percentile |
| 2025-05-20 | NY Harbor ULSD | Managed Money | 38,075 | 34,678 | 34,330 | +3,397 | +19,778 | 0.96% | +14,344 | 87th percentile |
| 2025-05-20 | WTI Crude Oil | Non-Reportable | 55,322 | 54,948 | — | +374 | +837 | 0.01% | -2,556 | 4th percentile |
| 2025-05-20 | Copper | Other Reportables | 19,558 | 19,402 | 23,607 | +156 | +2,426 | 0.07% | -8,454 | 33th percentile |
| 2025-05-20 | Palladium | Producer/Merchant/Processor/User | 764 | 987 | — | -223 | -674 | -1.11% | -947 | 33th percentile |
| 2025-05-20 | Platinum | Managed Money | 31,875 | 26,972 | 5,420 | +4,903 | +9,195 | 5.97% | +14,484 | 48th percentile |