CFTC COT report for 2 December 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 |
|---|---|---|---|---|---|---|---|---|
| 2025-12-02 | US 5Y | Leveraged Funds | 325,132 | 3,672,269 | -3,347,137 | -170,870 | -14,045 | 40th percentile |
| 2025-12-02 | US 10Y | Leveraged Funds | 706,619 | 2,960,717 | -2,254,098 | +105,218 | +41,930 | 33th percentile |
| 2025-12-02 | S&P 500 | Leveraged Funds | 179,974 | 623,198 | -443,224 | -60,266 | -37,838 | 10th percentile |
| 2025-12-02 | US 2Y | Leveraged Funds | 531,017 | 2,593,433 | -2,062,416 | -54,871 | +45,155 | 46th percentile |
| 2025-12-02 | Nasdaq-100 | Leveraged Funds | 78,215 | 81,255 | -3,040 | -12,711 | -12,170 | 79th percentile |
| 2025-12-02 | US Bond | Leveraged Funds | 104,671 | 473,577 | -368,906 | +10,450 | +16,238 | 88th percentile |
| 2025-12-02 | Ultra Bond | Leveraged Funds | 81,206 | 751,894 | -670,688 | +9,308 | +20,370 | 12th percentile |
| 2025-12-02 | VIX | Leveraged Funds | 61,347 | 107,307 | -45,960 | +9,150 | +32,166 | 44th 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 |
|---|---|---|---|---|---|---|---|---|
| 2025-12-02 | US 10Y | Asset Manager/Institutional | 3,071,524 | 952,438 | +2,119,086 | -133,167 | -4,385 | 60th percentile |
| 2025-12-02 | US 5Y | Asset Manager/Institutional | 4,393,005 | 735,364 | +3,657,641 | +61,104 | -62,817 | 79th percentile |
| 2025-12-02 | US 2Y | Asset Manager/Institutional | 2,624,589 | 528,610 | +2,095,979 | -38,503 | -102,658 | 52th percentile |
| 2025-12-02 | S&P 500 | Asset Manager/Institutional | 1,155,848 | 215,351 | +940,497 | +35,203 | +39,840 | 85th percentile |
| 2025-12-02 | US Bond | Asset Manager/Institutional | 1,084,166 | 623,378 | +460,788 | +27,324 | +7,487 | 15th percentile |
| 2025-12-02 | VIX | Asset Manager/Institutional | 66,556 | 61,683 | +4,873 | -17,057 | +739 | 33th percentile |
| 2025-12-02 | EUR | Asset Manager/Institutional | 508,867 | 147,114 | +361,753 | +11,991 | +10,733 | 75th percentile |
| 2025-12-02 | GBP | Asset Manager/Institutional | 27,982 | 142,535 | -114,553 | +6,884 | +1,121 | 10th 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-12-02 | Corn | Managed Money | 250,223 | 217,888 | 195,016 | +32,335 | +39,136 | 2.21% | +98,576 | 58th percentile |
| 2025-12-02 | Natural Gas | Managed Money | 162,521 | 202,494 | 525,563 | -39,973 | +25,373 | -2.62% | +4,013 | 44th percentile |
| 2025-12-02 | Soybean Oil | Managed Money | 71,577 | 77,386 | 145,135 | -5,809 | +14,307 | -0.85% | +16,873 | 21th percentile |
| 2025-12-02 | Sugar No. 11 | Managed Money | 103,636 | 287,495 | 132,731 | -183,859 | +13,036 | -19.32% | +15,323 | 10th percentile |
| 2025-12-02 | Gold | Managed Money | 140,143 | 19,819 | 26,484 | +120,324 | +11,015 | 28.75% | +19,779 | 25th percentile |
| 2025-12-02 | Chicago SRW Wheat | Managed Money | 86,969 | 133,611 | 97,940 | -46,642 | +9,764 | -11.50% | +22,098 | 100th percentile |
| 2025-12-02 | Live Cattle | Managed Money | 101,314 | 19,478 | 39,174 | +81,836 | -9,432 | 24.71% | -25,664 | 2th percentile |
| 2025-12-02 | Soybean Meal | Managed Money | 106,807 | 56,221 | 69,745 | +50,586 | -7,691 | 8.94% | +46,285 | 98th 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-12-02 | Corn | Producer/Merchant/Processor/User | 336,714 | 645,047 | — | -308,333 | -35,423 | -21.12% | -89,733 | 46th percentile |
| 2025-12-02 | Soybean Oil | Producer/Merchant/Processor/User | 187,420 | 308,028 | — | -120,608 | -24,870 | -17.65% | -16,729 | 83th percentile |
| 2025-12-02 | Chicago SRW Wheat | Producer/Merchant/Processor/User | 55,046 | 78,218 | — | -23,172 | -14,773 | -5.71% | -31,046 | 4th percentile |
| 2025-12-02 | RBOB Gasoline | Producer/Merchant/Processor/User | 106,754 | 210,290 | — | -103,536 | -14,507 | -26.85% | -25,677 | 2th percentile |
| 2025-12-02 | Natural Gas | Producer/Merchant/Processor/User | 210,379 | 245,332 | — | -34,953 | -13,476 | -2.29% | -23,674 | 38th percentile |
| 2025-12-02 | NY Harbor ULSD | Producer/Merchant/Processor/User | 74,432 | 181,289 | — | -106,857 | -10,057 | -30.43% | +6,193 | 13th percentile |
| 2025-12-02 | Copper | Producer/Merchant/Processor/User | 21,990 | 103,476 | — | -81,486 | -8,294 | -33.54% | +1,082 | 6th percentile |
| 2025-12-02 | Sugar No. 11 | Producer/Merchant/Processor/User | 303,714 | 246,920 | — | +56,794 | -7,583 | 5.96% | -21,255 | 88th 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-12-02 | Nasdaq-100 | Leveraged Funds | 78,215 | 81,255 | — | -3,040 | -12,711 | -0.98% | -12,170 | 79th percentile |
| 2025-12-02 | GBP | Leveraged Funds | 52,318 | 47,453 | — | +4,865 | +6,194 | 1.62% | -21,058 | 4th percentile |
| 2025-12-02 | GBP | Other Reportables | 1,168 | 932 | — | +236 | +2,137 | 0.07% | -1,362 | 83th percentile |
| 2025-12-02 | NZD | Leveraged Funds | 21,104 | 23,040 | — | -1,936 | -2,374 | -1.85% | -4,172 | 77th percentile |
| 2025-12-02 | NZD | Other Reportables | 1,696 | 1,131 | — | +565 | +840 | 0.54% | -427 | 62th percentile |
| 2025-12-02 | VIX | Non-Reportable | 28,177 | 30,226 | — | -2,049 | -2,620 | -0.48% | +1,524 | 17th percentile |
| 2025-12-02 | Corn | Managed Money | 250,223 | 217,888 | 195,016 | +32,335 | +39,136 | 2.21% | +98,576 | 58th percentile |
| 2025-12-02 | Cotton No. 2 | Producer/Merchant/Processor/User | 63,287 | 64,150 | — | -863 | -5,068 | -0.30% | -3,853 | 62th percentile |
| 2025-12-02 | Orange Juice | Swap Dealer | 277 | 264 | 76 | +13 | +15 | 0.11% | -59 | 4th percentile |
| 2025-12-02 | Soybean Oil | Non-Reportable | 33,756 | 29,044 | — | +4,712 | +5,276 | 0.68% | +3,480 | 37th percentile |
| 2025-12-02 | Sugar No. 11 | Other Reportables | 46,000 | 47,036 | 63,333 | -1,036 | -3,327 | -0.10% | -4,690 | 31th percentile |
| 2025-12-02 | NY Harbor ULSD | Other Reportables | 13,991 | 11,720 | 37,076 | +2,271 | +4,989 | 0.64% | +7,171 | 81th percentile |