CFTC COT report for 20 January 2026
Week-ended positions · TFF Futures Only and Disaggregated Futures Only · 42 reviewed markets · processed 26 Jul 2026, 17:40
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 |
|---|---|---|---|---|---|---|---|---|
| 2026-01-20 | US 10Y | Leveraged Funds | 555,759 | 2,647,983 | -2,092,224 | +178,637 | +206,103 | 50th percentile |
| 2026-01-20 | US 2Y | Leveraged Funds | 464,040 | 2,648,498 | -2,184,458 | +53,635 | +22,471 | 13th percentile |
| 2026-01-20 | Ultra Bond | Leveraged Funds | 75,410 | 740,033 | -664,623 | -43,477 | -51,470 | 15th percentile |
| 2026-01-20 | US 5Y | Leveraged Funds | 448,775 | 3,675,546 | -3,226,771 | +41,744 | +164,710 | 73th percentile |
| 2026-01-20 | S&P 500 | Leveraged Funds | 116,526 | 530,611 | -414,085 | +31,895 | -43,025 | 29th percentile |
| 2026-01-20 | EUR | Leveraged Funds | 100,073 | 89,837 | +10,236 | -15,156 | -45,871 | 27th percentile |
| 2026-01-20 | JPY | Leveraged Funds | 52,959 | 137,696 | -84,737 | +13,913 | -6,581 | 6th percentile |
| 2026-01-20 | VIX | Leveraged Funds | 49,673 | 86,899 | -37,226 | -13,569 | -12,197 | 65th 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 |
|---|---|---|---|---|---|---|---|---|
| 2026-01-20 | US 10Y | Asset Manager/Institutional | 2,996,394 | 1,108,700 | +1,887,694 | -293,001 | -198,838 | 21th percentile |
| 2026-01-20 | US 5Y | Asset Manager/Institutional | 4,212,528 | 703,943 | +3,508,585 | -157,308 | -205,831 | 40th percentile |
| 2026-01-20 | Ultra Bond | Asset Manager/Institutional | 1,413,434 | 440,153 | +973,281 | +52,526 | +87,505 | 100th percentile |
| 2026-01-20 | S&P 500 | Asset Manager/Institutional | 1,099,843 | 207,449 | +892,394 | -38,906 | -44,509 | 52th percentile |
| 2026-01-20 | US Bond | Asset Manager/Institutional | 1,084,838 | 585,717 | +499,121 | -34,634 | +12,218 | 29th percentile |
| 2026-01-20 | US 2Y | Asset Manager/Institutional | 2,645,132 | 464,247 | +2,180,885 | -27,593 | -80,189 | 63th percentile |
| 2026-01-20 | EUR | Asset Manager/Institutional | 543,954 | 152,750 | +391,204 | -12,912 | +807 | 92th percentile |
| 2026-01-20 | JPY | Asset Manager/Institutional | 65,185 | 47,455 | +17,730 | -10,493 | -30,618 | 6th 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026-01-20 | Natural Gas | Managed Money | 193,342 | 270,443 | 534,658 | -77,101 | +28,033 | -4.77% | +29,306 | 12th percentile |
| 2026-01-20 | Soybean Oil | Managed Money | 68,562 | 94,964 | 118,171 | -26,402 | +27,690 | -4.06% | +35,650 | 15th percentile |
| 2026-01-20 | Soybean Meal | Managed Money | 70,086 | 112,892 | 68,901 | -42,806 | -21,771 | -8.13% | -24,538 | 77th percentile |
| 2026-01-20 | Lean Hogs | Managed Money | 108,646 | 16,430 | 45,168 | +92,216 | +13,558 | 27.65% | +20,039 | 54th percentile |
| 2026-01-20 | Sugar No. 11 | Managed Money | 108,901 | 255,155 | 140,671 | -146,254 | -8,778 | -14.83% | +2,488 | 25th percentile |
| 2026-01-20 | Soybeans | Managed Money | 104,857 | 90,233 | 110,831 | +14,624 | -5,361 | 1.74% | -97,637 | 42th percentile |
| 2026-01-20 | Chicago SRW Wheat | Managed Money | 85,522 | 199,082 | 143,795 | -113,560 | -5,313 | -21.87% | -15,386 | 4th percentile |
| 2026-01-20 | Corn | Managed Money | 209,697 | 305,564 | 252,997 | -95,867 | -5,209 | -5.74% | -97,659 | 38th 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026-01-20 | WTI Crude Oil | Producer/Merchant/Processor/User | 570,993 | 366,556 | — | +204,437 | -25,404 | 10.40% | -40,711 | 2th percentile |
| 2026-01-20 | Soybean Meal | Producer/Merchant/Processor/User | 152,223 | 250,907 | — | -98,684 | +15,444 | -18.75% | +16,145 | 35th percentile |
| 2026-01-20 | Lean Hogs | Producer/Merchant/Processor/User | 29,024 | 150,041 | — | -121,017 | -14,787 | -36.29% | -26,256 | 40th percentile |
| 2026-01-20 | Soybean Oil | Producer/Merchant/Processor/User | 196,983 | 281,047 | — | -84,064 | -14,640 | -12.93% | -38,363 | 90th percentile |
| 2026-01-20 | Corn | Producer/Merchant/Processor/User | 467,997 | 652,463 | — | -184,466 | +14,310 | -11.06% | +95,448 | 60th percentile |
| 2026-01-20 | Natural Gas | Producer/Merchant/Processor/User | 252,020 | 234,588 | — | +17,432 | +9,100 | 1.08% | +17,971 | 100th percentile |
| 2026-01-20 | Gold | Producer/Merchant/Processor/User | 18,731 | 61,020 | — | -42,289 | +8,876 | -8.00% | +8,995 | 90th percentile |
| 2026-01-20 | Copper | Producer/Merchant/Processor/User | 26,626 | 116,589 | — | -89,963 | -7,240 | -32.31% | +5,855 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026-01-20 | Dow Jones | Dealer/Intermediary | 24,716 | 19,643 | — | +5,073 | +6,032 | 7.22% | +8,777 | 79th percentile |
| 2026-01-20 | GBP | Other Reportables | 1,041 | 1,180 | — | -139 | -416 | -0.06% | -268 | 71th percentile |
| 2026-01-20 | GBP | Non-Reportable | 33,243 | 28,345 | — | +4,898 | +5,132 | 2.35% | +7,355 | 65th percentile |
| 2026-01-20 | JPY | Non-Reportable | 43,047 | 39,358 | — | +3,689 | +4,344 | 1.26% | -992 | 35th percentile |
| 2026-01-20 | Bitcoin | Other Reportables | 1,231 | 1,462 | — | -231 | -750 | -0.94% | -691 | 42th percentile |
| 2026-01-20 | VIX | Non-Reportable | 24,776 | 24,880 | — | -104 | -2,693 | -0.02% | +1,042 | 35th percentile |
| 2026-01-20 | Orange Juice | Non-Reportable | 1,501 | 1,604 | — | -103 | -146 | -1.13% | -108 | 44th percentile |