CFTC COT report for 18 November 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 |
|---|---|---|---|---|---|---|---|---|
| 2025-11-18 | US 5Y | Leveraged Funds | 384,540 | 3,638,605 | -3,254,065 | +133,347 | -89,285 | 58th percentile |
| 2025-11-18 | US 10Y | Leveraged Funds | 593,164 | 2,954,775 | -2,361,611 | -74,911 | +22,841 | 13th percentile |
| 2025-11-18 | S&P 500 | Leveraged Funds | 200,379 | 559,286 | -358,907 | +64,096 | +82,094 | 37th percentile |
| 2025-11-18 | US Bond | Leveraged Funds | 102,419 | 517,759 | -415,340 | -42,546 | -21,245 | 69th percentile |
| 2025-11-18 | VIX | Leveraged Funds | 46,093 | 133,390 | -87,297 | -19,225 | -12,679 | 13th percentile |
| 2025-11-18 | EUR | Leveraged Funds | 87,561 | 75,140 | +12,421 | +18,082 | -10,043 | 46th percentile |
| 2025-11-18 | Ultra Bond | Leveraged Funds | 79,778 | 756,765 | -676,987 | +10,235 | -9,851 | 8th percentile |
| 2025-11-18 | Russell 2000 | Leveraged Funds | 44,078 | 135,164 | -91,086 | -9,828 | -27,241 | 8th 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 |
|---|---|---|---|---|---|---|---|---|
| 2025-11-18 | US 5Y | Asset Manager/Institutional | 4,405,687 | 672,828 | +3,732,859 | -103,424 | +136,833 | 92th percentile |
| 2025-11-18 | US 10Y | Asset Manager/Institutional | 3,186,998 | 942,062 | +2,244,936 | +101,575 | +81,045 | 88th percentile |
| 2025-11-18 | US 2Y | Asset Manager/Institutional | 2,683,604 | 558,607 | +2,124,997 | -65,885 | -118,705 | 62th percentile |
| 2025-11-18 | US Bond | Asset Manager/Institutional | 1,121,629 | 662,784 | +458,845 | +27,184 | +4,262 | 12th percentile |
| 2025-11-18 | VIX | Asset Manager/Institutional | 78,613 | 58,658 | +19,955 | +10,827 | +2,454 | 71th percentile |
| 2025-11-18 | S&P 500 | Asset Manager/Institutional | 1,130,593 | 218,542 | +912,051 | +8,725 | +9,316 | 63th percentile |
| 2025-11-18 | JPY | Asset Manager/Institutional | 127,127 | 57,383 | +69,744 | -7,396 | -11,865 | 40th percentile |
| 2025-11-18 | CAD | Asset Manager/Institutional | 35,283 | 129,396 | -94,113 | +6,806 | +3,631 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-11-18 | Corn | Managed Money | 251,002 | 202,214 | 197,011 | +48,788 | +86,138 | 3.01% | +208,060 | 56th percentile |
| 2025-11-18 | Soybeans | Managed Money | 273,089 | 39,612 | 105,736 | +233,477 | +30,001 | 24.17% | +195,984 | 100th percentile |
| 2025-11-18 | Soybean Meal | Managed Money | 116,055 | 67,729 | 76,161 | +48,326 | +28,762 | 8.03% | +144,071 | 100th percentile |
| 2025-11-18 | RBOB Gasoline | Managed Money | 109,178 | 9,783 | 52,044 | +99,395 | +22,395 | 24.42% | +63,292 | 100th percentile |
| 2025-11-18 | Sugar No. 11 | Managed Money | 102,155 | 293,852 | 137,897 | -191,697 | +15,101 | -20.36% | -37,396 | 6th percentile |
| 2025-11-18 | Soybean Oil | Managed Money | 69,267 | 80,675 | 143,488 | -11,408 | +14,472 | -1.54% | -12,854 | 17th percentile |
| 2025-11-18 | Kansas City HRW Wheat | Managed Money | 52,953 | 74,115 | 50,596 | -21,162 | +12,735 | -7.35% | +46,019 | 98th percentile |
| 2025-11-18 | Lean Hogs | Managed Money | 85,053 | 34,441 | 45,314 | +50,612 | -11,693 | 16.15% | -65,027 | 10th 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-11-18 | Corn | Producer/Merchant/Processor/User | 384,556 | 712,236 | — | -327,680 | -74,574 | -20.27% | -206,048 | 48th percentile |
| 2025-11-18 | Soybean Meal | Producer/Merchant/Processor/User | 170,152 | 347,679 | — | -177,527 | -22,341 | -29.50% | -106,032 | 2th percentile |
| 2025-11-18 | Soybeans | Producer/Merchant/Processor/User | 242,309 | 588,300 | — | -345,991 | -21,170 | -35.82% | -173,097 | 2th percentile |
| 2025-11-18 | Sugar No. 11 | Producer/Merchant/Processor/User | 295,216 | 231,365 | — | +63,851 | -17,004 | 6.78% | +17,282 | 94th percentile |
| 2025-11-18 | Soybean Oil | Producer/Merchant/Processor/User | 228,164 | 347,222 | — | -119,058 | -16,993 | -16.14% | +15,898 | 87th percentile |
| 2025-11-18 | Lean Hogs | Producer/Merchant/Processor/User | 35,118 | 114,584 | — | -79,466 | +16,958 | -25.36% | +47,344 | 96th percentile |
| 2025-11-18 | Cocoa | Producer/Merchant/Processor/User | 38,692 | 43,125 | — | -4,433 | +15,370 | -3.82% | +12,314 | 100th percentile |
| 2025-11-18 | Kansas City HRW Wheat | Producer/Merchant/Processor/User | 47,104 | 101,448 | — | -54,344 | -8,909 | -18.87% | -33,910 | 10th 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-11-18 | Dow Jones | Other Reportables | 300 | 0 | — | +300 | +700 | 0.36% | +1,124 | 92th percentile |
| 2025-11-18 | EUR | Leveraged Funds | 87,561 | 75,140 | — | +12,421 | +18,082 | 1.50% | -10,043 | 46th percentile |
| 2025-11-18 | GBP | Other Reportables | 1,205 | 2,096 | — | -891 | -2,107 | -0.31% | -752 | 62th percentile |
| 2025-11-18 | NZD | Other Reportables | 1,615 | 1,767 | — | -152 | -332 | -0.14% | -285 | 21th percentile |
| 2025-11-18 | Bitcoin | Non-Reportable | 1,371 | 1,220 | — | +151 | +180 | 0.55% | -318 | 27th percentile |
| 2025-11-18 | Cocoa | Managed Money | 17,902 | 26,469 | 15,277 | -8,567 | -10,094 | -7.39% | -7,649 | 2th percentile |
| 2025-11-18 | Corn | Managed Money | 251,002 | 202,214 | 197,011 | +48,788 | +86,138 | 3.01% | +208,060 | 56th percentile |
| 2025-11-18 | Cotton No. 2 | Non-Reportable | 12,271 | 12,811 | — | -540 | -1,602 | -0.19% | +1,353 | 46th percentile |
| 2025-11-18 | RBOB Gasoline | Other Reportables | 23,031 | 26,918 | 27,278 | -3,887 | -6,076 | -0.95% | -3,351 | 12th percentile |
| 2025-11-18 | Palladium | Other Reportables | 2,519 | 1,807 | 796 | +712 | +790 | 3.34% | +382 | 31th percentile |