% Very Poor + Poor from USDA NASS weekly Crop Progress. Values above 40% (dashed line) correlate with elevated abandonment risk for winter wheat and replant / yield-drag pressure for corn and soybeans. Current year shown in red; prior years muted.
78% silked, ahead of the 5-year pace — conditions 63% Good+Excellent, 1.6pt below a normal year at this week.
USDA NASS weekly crop condition ratings. % Good + Excellent is the headline figure watched by traders. Values above 60% (green) signal favorable conditions; below 40% (red) indicates significant crop stress.
USDA NASS weekly planting progress (% of intended acres planted). Pace relative to prior years signals planting delays or acceleration.
Average drought coverage across Corn Belt states (IA, IL, IN, MN, NE, OH, SD, WI, ND, MO). D2+ (Severe/Extreme/Exceptional) coverage ≥ 30% of the belt is historically significant for yield.
| Date | D0+ (%) | D2+ (%) | D3+ (%) | D4 (%) |
|---|---|---|---|---|
| 2025-08-05 | 19.5 | 0.3 | 0.0 | 0.0 |
| 2025-08-12 | 21.3 | 0.3 | 0.0 | 0.0 |
| 2025-08-19 | 21.2 | 0.3 | 0.0 | 0.0 |
| 2025-08-26 | 25.6 | 0.2 | 0.0 | 0.0 |
| 2025-09-02 | 41.4 | 0.2 | 0.0 | 0.0 |
| 2025-09-09 | 43.9 | 2.5 | 0.0 | 0.0 |
| 2025-09-16 | 50.4 | 7.1 | 0.5 | 0.0 |
| 2025-09-23 | 47.7 | 7.9 | 0.5 | 0.0 |
| 2025-09-30 | 54.1 | 8.2 | 0.5 | 0.0 |
| 2025-10-07 | 63.6 | 10.9 | 1.3 | 0.0 |
| 2025-10-14 | 61.7 | 12.3 | 2.2 | 0.0 |
| 2025-10-21 | 61.2 | 8.5 | 1.9 | 0.0 |
| 2025-10-28 | 60.8 | 10.2 | 2.1 | 0.0 |
| 2025-11-04 | 58.4 | 9.7 | 1.7 | 0.0 |
| 2025-11-11 | 56.9 | 9.3 | 1.7 | 0.0 |
| 2025-11-18 | 62.1 | 11.0 | 1.9 | 0.0 |
| 2025-11-25 | 60.3 | 9.2 | 1.9 | 0.0 |
| 2025-12-02 | 59.9 | 7.6 | 1.8 | 0.0 |
| 2025-12-09 | 60.4 | 7.7 | 1.8 | 0.0 |
| 2025-12-16 | 60.0 | 7.6 | 1.8 | 0.0 |
| 2025-12-23 | 61.0 | 7.7 | 1.8 | 0.0 |
| 2025-12-30 | 62.3 | 6.5 | 1.8 | 0.0 |
| 2026-01-06 | 65.1 | 9.7 | 2.3 | 0.0 |
| 2026-01-13 | 57.3 | 9.4 | 2.3 | 0.0 |
| 2026-01-20 | 58.5 | 9.9 | 2.4 | 0.0 |
| 2026-01-27 | 59.2 | 9.9 | 2.4 | 0.0 |
| 2026-02-03 | 59.5 | 10.0 | 2.4 | 0.0 |
| 2026-02-10 | 62.6 | 12.6 | 2.6 | 0.0 |
| 2026-02-17 | 63.3 | 13.2 | 3.7 | 0.0 |
| 2026-02-24 | 64.6 | 14.2 | 3.8 | 0.0 |
| 2026-03-03 | 71.3 | 15.8 | 4.4 | 0.0 |
| 2026-03-10 | 63.9 | 12.7 | 3.1 | 0.0 |
| 2026-03-17 | 55.4 | 13.9 | 3.1 | 0.0 |
| 2026-03-24 | 55.1 | 14.8 | 3.1 | 0.0 |
| 2026-03-31 | 55.2 | 16.0 | 5.3 | 0.0 |
| 2026-04-07 | 44.0 | 13.4 | 4.5 | 0.0 |
| 2026-04-14 | 38.4 | 13.2 | 6.0 | 0.0 |
| 2026-04-21 | 30.9 | 13.2 | 7.3 | 0.0 |
| 2026-04-28 | 26.1 | 12.6 | 7.1 | 0.2 |
| 2026-05-05 | 26.4 | 12.6 | 7.4 | 0.4 |
| 2026-05-12 | 31.6 | 13.0 | 8.2 | 1.0 |
| 2026-05-19 | 35.0 | 12.8 | 7.9 | 0.9 |
| 2026-05-26 | 42.6 | 12.9 | 7.4 | 0.8 |
| 2026-06-02 | 55.0 | 11.7 | 6.6 | 0.9 |
| 2026-06-09 | 52.5 | 11.9 | 6.3 | 0.6 |
| 2026-06-16 | 47.0 | 12.0 | 6.3 | 0.7 |
| 2026-06-23 | 44.6 | 11.8 | 5.7 | 0.7 |
| 2026-06-30 | 39.8 | 9.6 | 3.2 | 0.4 |
| 2026-07-07 | 40.0 | 9.2 | 3.0 | 0.4 |
| 2026-07-14 | 41.7 | 9.3 | 2.8 | 0.3 |
| 2026-07-21 | 46.0 | 10.1 | 3.0 | 0.3 |
| 2026-07-28 | 55.5 | 14.3 | 3.1 | 0.3 |
D2+ (Severe + Extreme + Exceptional) drought coverage by week of year. Overlapping years allow comparison of current drought intensity vs. historical patterns.
| Date | 2026 (%) | 2025 (%) | 2024 (%) |
|---|---|---|---|
| Jan 01 | 9.7 | 13.0 | 18.3 |
| Jan 08 | 9.4 | 13.0 | 17.6 |
| Jan 15 | 9.9 | 13.0 | 12.8 |
| Jan 22 | 9.9 | 11.9 | 12.1 |
| Jan 29 | 10.0 | 12.5 | 10.4 |
| Feb 05 | 12.6 | 12.7 | 10.3 |
| Feb 12 | 13.2 | 12.7 | 10.3 |
| Feb 19 | 14.2 | 12.5 | 10.5 |
| Feb 26 | 15.9 | 12.9 | 10.5 |
| Mar 05 | 12.7 | 12.7 | 11.2 |
| Mar 12 | 13.9 | 12.5 | 11.0 |
| Mar 19 | 14.8 | 14.4 | 10.9 |
| Mar 26 | 16.0 | 13.8 | 6.6 |
| Apr 02 | 13.4 | 10.1 | 6.5 |
| Apr 09 | 13.2 | 10.3 | 6.7 |
| Apr 16 | 13.2 | 10.6 | 6.0 |
| Apr 23 | 12.6 | 6.8 | 5.8 |
| Apr 30 | 12.6 | 7.5 | 4.6 |
| May 07 | 13.0 | 9.7 | 2.2 |
| May 14 | 12.8 | 7.5 | 1.9 |
| May 21 | 12.9 | 6.1 | 0.0 |
| May 28 | 11.7 | 4.3 | 0.0 |
| Jun 04 | 11.9 | 3.1 | 0.0 |
| Jun 11 | 12.0 | 2.6 | 0.0 |
| Jun 18 | 11.8 | 2.5 | 0.0 |
| Jun 25 | 9.6 | 1.8 | 0.0 |
| Jul 02 | 9.2 | 1.7 | 0.0 |
| Jul 09 | 9.3 | 1.2 | 0.0 |
| Jul 16 | 10.1 | 1.0 | 0.9 |
| Jul 23 | 14.3 | 0.8 | 1.4 |
Managed money (hedge funds & CTAs) net long position by week of year, overlapping across all available years.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | -16.4 | 253.3 | -197.3 |
| Jan 13 | -81.8 | 292.2 | -230.7 |
| Jan 20 | -81.3 | 311.7 | -260.5 |
| Jan 27 | -72.0 | 350.7 | -265.3 |
| Feb 03 | -68.8 | 364.2 | -280.2 |
| Feb 10 | -48.2 | 332.4 | -297.7 |
| Feb 17 | -27.4 | 353.5 | -314.3 |
| Feb 24 | -13.9 | 337.5 | -340.7 |
| Mar 03 | 53.0 | 219.8 | -295.3 |
| Mar 10 | 193.3 | 146.5 | -296.8 |
| Mar 17 | 228.8 | 107.3 | -255.9 |
| Mar 24 | 284.5 | 74.6 | -243.0 |
| Mar 31 | 268.0 | 56.8 | -251.7 |
| Apr 07 | 218.6 | 53.6 | -259.6 |
| Apr 14 | 159.5 | 124.6 | -263.6 |
| Apr 21 | 184.4 | 112.8 | -279.6 |
| Apr 28 | 264.1 | 71.3 | -238.5 |
| May 05 | 343.9 | 13.9 | -218.0 |
| May 12 | 299.5 | -85.0 | -102.5 |
| May 19 | 293.4 | -103.2 | -71.2 |
| May 26 | 205.5 | -100.8 | -121.2 |
| Jun 02 | 115.1 | -154.0 | -133.5 |
| Jun 09 | -5.3 | -164.0 | -212.7 |
| Jun 16 | -46.4 | -184.8 | -212.3 |
| Jun 23 | -69.7 | -182.3 | -191.5 |
| Jun 30 | -46.2 | -206.5 | -277.7 |
| Jul 07 | 12.7 | -203.9 | -336.5 |
| Jul 14 | 43.4 | -174.8 | -354.0 |
| Jul 21 | 92.9 | -177.4 | -343.4 |
| Jul 28 | 168.4 | -181.2 | -318.5 |
Commercial hedger net position. Commercials are structurally short (forward sellers); a move toward net long is historically bullish.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | -7.2 | -217.5 | 198.4 |
| Jan 13 | 78.8 | -244.9 | 217.7 |
| Jan 20 | 90.3 | -286.6 | 264.1 |
| Jan 27 | 71.0 | -324.7 | 262.9 |
| Feb 03 | 73.9 | -340.7 | 267.7 |
| Feb 10 | 62.5 | -304.7 | 272.1 |
| Feb 17 | 56.9 | -331.9 | 290.4 |
| Feb 24 | 39.8 | -312.4 | 306.8 |
| Mar 03 | -32.3 | -227.6 | 269.9 |
| Mar 10 | -177.1 | -160.9 | 261.0 |
| Mar 17 | -217.9 | -119.5 | 213.9 |
| Mar 24 | -277.3 | -73.4 | 197.1 |
| Mar 31 | -237.1 | -46.9 | 213.7 |
| Apr 07 | -188.9 | -54.4 | 219.9 |
| Apr 14 | -147.2 | -128.4 | 224.9 |
| Apr 21 | -158.9 | -96.7 | 242.6 |
| Apr 28 | -237.7 | -75.8 | 199.7 |
| May 05 | -325.8 | -10.1 | 184.0 |
| May 12 | -216.8 | 85.2 | 76.0 |
| May 19 | -250.7 | 97.7 | 57.5 |
| May 26 | -181.9 | 115.7 | 97.4 |
| Jun 02 | -47.9 | 170.5 | 113.6 |
| Jun 09 | 34.1 | 171.1 | 193.5 |
| Jun 16 | 53.6 | 187.1 | 180.1 |
| Jun 23 | 83.7 | 183.1 | 158.3 |
| Jun 30 | 37.8 | 214.1 | 239.0 |
| Jul 07 | -5.8 | 207.6 | 289.2 |
| Jul 14 | -29.6 | 190.1 | 305.7 |
| Jul 21 | -81.7 | 199.6 | 298.3 |
| Jul 28 | -151.0 | 208.7 | 281.1 |
Managed money gross long contracts by week of year. Elevated gross longs signal crowded positioning and potential liquidation pressure if sentiment shifts.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 220.5 | 367.3 | 162.4 |
| Jan 13 | 198.4 | 393.2 | 157.7 |
| Jan 20 | 206.4 | 415.6 | 155.3 |
| Jan 27 | 216.9 | 447.2 | 158.2 |
| Feb 03 | 214.9 | 447.9 | 162.2 |
| Feb 10 | 216.4 | 417.8 | 168.8 |
| Feb 17 | 214.2 | 428.0 | 174.8 |
| Feb 24 | 223.2 | 415.8 | 164.4 |
| Mar 03 | 247.5 | 311.6 | 174.4 |
| Mar 10 | 334.6 | 258.6 | 173.8 |
| Mar 17 | 344.2 | 240.2 | 177.1 |
| Mar 24 | 363.9 | 230.7 | 171.1 |
| Mar 31 | 354.4 | 213.5 | 174.1 |
| Apr 07 | 316.3 | 213.6 | 170.4 |
| Apr 14 | 301.8 | 250.3 | 158.5 |
| Apr 21 | 329.1 | 269.0 | 161.6 |
| Apr 28 | 379.3 | 254.2 | 170.2 |
| May 05 | 441.2 | 218.3 | 176.0 |
| May 12 | 420.7 | 173.1 | 202.1 |
| May 19 | 426.6 | 175.9 | 218.6 |
| May 26 | 368.1 | 174.1 | 208.0 |
| Jun 02 | 304.9 | 163.5 | 213.9 |
| Jun 09 | 277.4 | 169.1 | 204.2 |
| Jun 16 | 279.6 | 153.8 | 207.8 |
| Jun 23 | 293.4 | 165.7 | 218.9 |
| Jun 30 | 305.9 | 179.7 | 193.2 |
| Jul 07 | 306.5 | 168.1 | 153.8 |
| Jul 14 | 304.5 | 177.0 | 153.9 |
| Jul 21 | 320.4 | 182.2 | 152.2 |
| Jul 28 | 338.7 | 187.4 | 158.6 |
Managed money gross short contracts by week of year. Elevated gross shorts represent potential short-covering fuel — a catalyst can force rapid buybacks and amplify a rally.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 236.9 | 114.0 | 359.7 |
| Jan 13 | 280.2 | 100.9 | 388.4 |
| Jan 20 | 287.8 | 103.9 | 415.8 |
| Jan 27 | 288.9 | 96.5 | 423.5 |
| Feb 03 | 283.7 | 83.7 | 442.4 |
| Feb 10 | 264.6 | 85.4 | 466.6 |
| Feb 17 | 241.6 | 74.5 | 489.2 |
| Feb 24 | 237.1 | 78.4 | 505.1 |
| Mar 03 | 194.5 | 91.9 | 469.7 |
| Mar 10 | 141.4 | 112.0 | 470.6 |
| Mar 17 | 115.4 | 133.0 | 433.0 |
| Mar 24 | 79.3 | 156.1 | 414.1 |
| Mar 31 | 86.4 | 156.8 | 425.9 |
| Apr 07 | 97.6 | 160.0 | 430.0 |
| Apr 14 | 142.4 | 125.7 | 422.0 |
| Apr 21 | 144.7 | 156.2 | 441.1 |
| Apr 28 | 115.2 | 182.9 | 408.8 |
| May 05 | 97.3 | 204.4 | 394.1 |
| May 12 | 121.2 | 258.1 | 304.7 |
| May 19 | 133.3 | 279.1 | 289.8 |
| May 26 | 162.6 | 274.9 | 329.1 |
| Jun 02 | 189.8 | 317.6 | 347.4 |
| Jun 09 | 282.7 | 333.1 | 416.9 |
| Jun 16 | 326.1 | 338.6 | 420.0 |
| Jun 23 | 363.1 | 348.0 | 410.3 |
| Jun 30 | 352.1 | 386.1 | 470.8 |
| Jul 07 | 293.8 | 372.0 | 490.3 |
| Jul 14 | 261.1 | 351.8 | 507.9 |
| Jul 21 | 227.5 | 359.6 | 495.6 |
| Jul 28 | 170.3 | 368.6 | 477.2 |
Total open interest. Rising OI with a directional move confirms trend; falling OI suggests position liquidation.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 1,915.5 | 2,132.6 | 1,601.3 |
| Jan 13 | 2,035.7 | 2,372.0 | 1,713.9 |
| Jan 20 | 2,088.3 | 2,534.2 | 1,852.3 |
| Jan 27 | 2,092.6 | 2,513.6 | 1,958.2 |
| Feb 03 | 2,142.1 | 2,618.9 | 1,963.8 |
| Feb 10 | 2,158.2 | 2,602.5 | 1,996.0 |
| Feb 17 | 2,204.0 | 2,693.2 | 2,038.8 |
| Feb 24 | 1,995.9 | 2,360.3 | 2,053.9 |
| Mar 03 | 2,018.3 | 2,355.1 | 1,896.4 |
| Mar 10 | 2,219.5 | 2,368.6 | 1,914.6 |
| Mar 17 | 2,322.0 | 2,372.1 | 1,961.4 |
| Mar 24 | 2,395.8 | 2,346.1 | 1,999.1 |
| Mar 31 | 2,367.0 | 2,470.0 | 2,017.8 |
| Apr 07 | 2,350.2 | 2,415.7 | 2,056.5 |
| Apr 14 | 2,357.6 | 2,326.6 | 1,999.9 |
| Apr 21 | 2,380.7 | 2,317.3 | 1,966.2 |
| Apr 28 | 2,330.6 | 1,999.4 | 1,969.4 |
| May 05 | 2,515.6 | 2,020.8 | 1,805.7 |
| May 12 | 2,533.1 | 2,081.4 | 1,895.1 |
| May 19 | 2,562.3 | 2,153.5 | 1,973.8 |
| May 26 | 2,433.0 | 2,115.8 | 1,993.4 |
| Jun 02 | 2,454.8 | 2,125.8 | 1,963.8 |
| Jun 09 | 2,566.2 | 2,099.1 | 2,067.1 |
| Jun 16 | 2,661.9 | 2,078.6 | 2,057.5 |
| Jun 23 | 2,639.8 | 1,881.6 | 2,048.6 |
| Jun 30 | 2,300.0 | 1,886.3 | 1,922.4 |
| Jul 07 | 2,344.9 | 1,945.0 | 1,973.5 |
| Jul 14 | 2,326.2 | 1,917.1 | 2,038.2 |
| Jul 21 | 2,425.9 | 1,968.7 | 2,074.7 |
| Jul 28 | 2,364.9 | 2,007.6 | 2,106.7 |
Nearby futures price (ZC=F). Price shown for context; COT positioning is the primary signal.
% Very Poor + Poor from USDA NASS weekly Crop Progress. Values above 40% (dashed line) correlate with elevated abandonment risk for winter wheat and replant / yield-drag pressure for corn and soybeans. Current year shown in red; prior years muted.
47% setting pods, ahead of the 5-year pace — conditions 63% Good+Excellent, 1.4pt above a normal year at this week.
USDA NASS weekly crop condition ratings. % Good + Excellent is the headline figure watched by traders. Values above 60% (green) signal favorable conditions; below 40% (red) indicates significant crop stress.
USDA NASS weekly planting progress (% of intended acres planted). Pace relative to prior years signals planting delays or acceleration.
Average drought coverage across Soybeans Belt states (IA, IL, IN, MN, NE, OH, SD, ND, MO, KS, MI, AR). D2+ (Severe/Extreme/Exceptional) coverage ≥ 30% of the belt is historically significant for yield.
| Date | D0+ (%) | D2+ (%) | D3+ (%) | D4 (%) |
|---|---|---|---|---|
| 2025-08-05 | 20.9 | 0.5 | 0.0 | 0.0 |
| 2025-08-12 | 23.2 | 0.4 | 0.0 | 0.0 |
| 2025-08-19 | 23.4 | 0.3 | 0.0 | 0.0 |
| 2025-08-26 | 27.6 | 0.3 | 0.0 | 0.0 |
| 2025-09-02 | 42.1 | 0.3 | 0.0 | 0.0 |
| 2025-09-09 | 44.3 | 2.4 | 0.0 | 0.0 |
| 2025-09-16 | 52.5 | 7.0 | 0.5 | 0.0 |
| 2025-09-23 | 49.9 | 7.7 | 0.5 | 0.0 |
| 2025-09-30 | 52.9 | 8.2 | 0.4 | 0.0 |
| 2025-10-07 | 58.8 | 10.7 | 1.1 | 0.0 |
| 2025-10-14 | 58.2 | 12.0 | 2.0 | 0.0 |
| 2025-10-21 | 58.1 | 8.3 | 1.7 | 0.0 |
| 2025-10-28 | 56.5 | 9.9 | 1.9 | 0.0 |
| 2025-11-04 | 54.1 | 9.3 | 1.5 | 0.0 |
| 2025-11-11 | 52.2 | 9.0 | 1.6 | 0.0 |
| 2025-11-18 | 55.5 | 9.6 | 1.7 | 0.0 |
| 2025-11-25 | 54.1 | 7.3 | 1.7 | 0.0 |
| 2025-12-02 | 53.9 | 5.8 | 1.6 | 0.0 |
| 2025-12-09 | 54.6 | 5.9 | 1.7 | 0.0 |
| 2025-12-16 | 54.3 | 5.9 | 1.7 | 0.0 |
| 2025-12-23 | 55.2 | 6.0 | 1.7 | 0.0 |
| 2025-12-30 | 56.2 | 4.8 | 1.6 | 0.0 |
| 2026-01-06 | 58.9 | 7.7 | 2.1 | 0.0 |
| 2026-01-13 | 51.2 | 8.2 | 2.1 | 0.0 |
| 2026-01-20 | 52.1 | 8.8 | 2.1 | 0.0 |
| 2026-01-27 | 52.6 | 8.8 | 2.1 | 0.0 |
| 2026-02-03 | 53.3 | 8.9 | 2.2 | 0.0 |
| 2026-02-10 | 57.0 | 11.2 | 2.3 | 0.0 |
| 2026-02-17 | 57.4 | 11.8 | 3.4 | 0.0 |
| 2026-02-24 | 58.8 | 12.9 | 3.4 | 0.0 |
| 2026-03-03 | 65.2 | 14.6 | 4.0 | 0.0 |
| 2026-03-10 | 61.3 | 16.7 | 5.4 | 0.2 |
| 2026-03-17 | 57.1 | 17.4 | 5.3 | 0.2 |
| 2026-03-24 | 58.2 | 18.8 | 5.7 | 0.3 |
| 2026-03-31 | 59.0 | 21.7 | 9.5 | 0.7 |
| 2026-04-07 | 51.2 | 19.2 | 9.0 | 0.7 |
| 2026-04-14 | 45.8 | 19.7 | 10.6 | 1.1 |
| 2026-04-21 | 39.7 | 21.1 | 11.9 | 1.1 |
| 2026-04-28 | 35.8 | 20.7 | 10.8 | 1.0 |
| 2026-05-05 | 36.1 | 21.0 | 11.6 | 1.4 |
| 2026-05-12 | 40.6 | 21.3 | 12.4 | 2.3 |
| 2026-05-19 | 43.1 | 21.0 | 12.9 | 2.3 |
| 2026-05-26 | 46.3 | 21.1 | 11.8 | 2.0 |
| 2026-06-02 | 52.3 | 18.6 | 9.4 | 1.3 |
| 2026-06-09 | 49.9 | 18.1 | 7.9 | 1.0 |
| 2026-06-16 | 46.5 | 18.0 | 8.0 | 1.1 |
| 2026-06-23 | 43.9 | 16.5 | 6.3 | 1.1 |
| 2026-06-30 | 39.3 | 11.6 | 3.9 | 0.7 |
| 2026-07-07 | 39.9 | 10.1 | 3.4 | 0.4 |
| 2026-07-14 | 40.2 | 10.1 | 2.9 | 0.3 |
| 2026-07-21 | 43.5 | 10.8 | 3.0 | 0.3 |
| 2026-07-28 | 51.3 | 14.0 | 3.1 | 0.3 |
D2+ (Severe + Extreme + Exceptional) drought coverage by week of year. Overlapping years allow comparison of current drought intensity vs. historical patterns.
| Date | 2026 (%) | 2025 (%) | 2024 (%) |
|---|---|---|---|
| Jan 01 | 7.7 | 13.5 | 17.0 |
| Jan 08 | 8.2 | 13.5 | 16.1 |
| Jan 15 | 8.8 | 13.5 | 11.9 |
| Jan 22 | 8.8 | 11.7 | 10.3 |
| Jan 29 | 8.9 | 12.2 | 8.7 |
| Feb 05 | 11.2 | 12.4 | 8.4 |
| Feb 12 | 11.8 | 12.3 | 8.3 |
| Feb 19 | 12.9 | 13.4 | 8.5 |
| Feb 26 | 14.6 | 13.7 | 8.5 |
| Mar 05 | 16.7 | 13.4 | 9.0 |
| Mar 12 | 17.5 | 13.4 | 8.8 |
| Mar 19 | 18.8 | 14.3 | 8.7 |
| Mar 26 | 21.7 | 13.1 | 6.0 |
| Apr 02 | 19.2 | 9.5 | 5.8 |
| Apr 09 | 19.7 | 9.7 | 6.0 |
| Apr 16 | 21.1 | 9.8 | 5.9 |
| Apr 23 | 20.7 | 6.6 | 6.7 |
| Apr 30 | 21.0 | 7.4 | 6.6 |
| May 07 | 21.3 | 9.1 | 4.5 |
| May 14 | 21.0 | 7.0 | 4.5 |
| May 21 | 21.1 | 5.7 | 2.4 |
| May 28 | 18.6 | 4.1 | 2.5 |
| Jun 04 | 18.0 | 3.0 | 1.4 |
| Jun 11 | 18.0 | 2.6 | 0.8 |
| Jun 18 | 16.5 | 2.5 | 0.8 |
| Jun 25 | 11.6 | 1.8 | 0.5 |
| Jul 02 | 10.1 | 1.7 | 0.4 |
| Jul 09 | 10.1 | 1.3 | 0.4 |
| Jul 16 | 10.8 | 1.1 | 1.1 |
| Jul 23 | 14.0 | 0.9 | 1.7 |
Managed money (hedge funds & CTAs) net long position by week of year, overlapping across all available years.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 57.7 | -28.6 | -11.6 |
| Jan 13 | 13.0 | 34.8 | -31.2 |
| Jan 20 | 10.1 | 40.3 | -76.8 |
| Jan 27 | 17.3 | 56.5 | -91.8 |
| Feb 03 | 28.8 | 57.0 | -108.2 |
| Feb 10 | 123.1 | 28.5 | -130.3 |
| Feb 17 | 163.6 | 16.5 | -134.5 |
| Feb 24 | 184.2 | 8.2 | -136.7 |
| Mar 03 | 198.9 | -35.5 | -160.7 |
| Mar 10 | 222.1 | -15.5 | -172.0 |
| Mar 17 | 202.0 | -22.0 | -155.1 |
| Mar 24 | 197.9 | -43.0 | -148.3 |
| Mar 31 | 213.4 | -29.8 | -134.8 |
| Apr 07 | 189.6 | -50.4 | -138.3 |
| Apr 14 | 175.2 | 26.2 | -139.3 |
| Apr 21 | 192.9 | 31.1 | -167.9 |
| Apr 28 | 185.3 | 38.2 | -149.0 |
| May 05 | 221.6 | 21.9 | -149.2 |
| May 12 | 214.8 | 38.4 | -41.5 |
| May 19 | 207.8 | 12.7 | -42.7 |
| May 26 | 189.6 | 36.7 | -26.4 |
| Jun 02 | 156.1 | 8.6 | -14.2 |
| Jun 09 | 90.8 | 25.6 | -59.7 |
| Jun 16 | 52.8 | 59.2 | -75.9 |
| Jun 23 | 36.7 | 23.4 | -106.0 |
| Jun 30 | 31.2 | 0.4 | -129.7 |
| Jul 07 | 68.7 | -6.2 | -140.9 |
| Jul 14 | 72.7 | -32.3 | -172.6 |
| Jul 21 | 124.9 | -10.9 | -185.8 |
| Jul 28 | 155.0 | -36.3 | -163.7 |
Commercial hedger net position. Commercials are structurally short (forward sellers); a move toward net long is historically bullish.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | -82.2 | 61.5 | 31.8 |
| Jan 13 | -31.8 | 0.5 | 51.7 |
| Jan 20 | -26.0 | -5.2 | 112.4 |
| Jan 27 | -33.9 | -16.7 | 122.8 |
| Feb 03 | -40.1 | -23.2 | 152.0 |
| Feb 10 | -116.6 | 9.3 | 167.7 |
| Feb 17 | -153.8 | 24.5 | 166.5 |
| Feb 24 | -166.0 | 37.8 | 166.6 |
| Mar 03 | -176.4 | 67.2 | 195.6 |
| Mar 10 | -190.7 | 43.7 | 205.5 |
| Mar 17 | -177.0 | 43.3 | 185.2 |
| Mar 24 | -164.3 | 54.8 | 173.5 |
| Mar 31 | -179.4 | 33.0 | 155.2 |
| Apr 07 | -156.9 | 57.0 | 162.1 |
| Apr 14 | -151.3 | -25.1 | 164.4 |
| Apr 21 | -169.0 | -28.7 | 190.6 |
| Apr 28 | -163.7 | -37.3 | 166.9 |
| May 05 | -206.0 | -27.2 | 165.0 |
| May 12 | -191.4 | -55.8 | 71.0 |
| May 19 | -180.1 | -31.5 | 80.0 |
| May 26 | -171.1 | -55.2 | 58.8 |
| Jun 02 | -139.4 | -20.3 | 48.4 |
| Jun 09 | -70.4 | -44.0 | 91.9 |
| Jun 16 | -34.8 | -72.1 | 102.6 |
| Jun 23 | -13.1 | -32.9 | 125.3 |
| Jun 30 | -8.0 | -2.8 | 147.4 |
| Jul 07 | -57.2 | 5.2 | 156.4 |
| Jul 14 | -70.5 | 34.9 | 193.7 |
| Jul 21 | -127.6 | 13.5 | 210.5 |
| Jul 28 | -162.5 | 38.1 | 175.7 |
Managed money gross long contracts by week of year. Elevated gross longs signal crowded positioning and potential liquidation pressure if sentiment shifts.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 121.6 | 107.2 | 69.8 |
| Jan 13 | 106.9 | 125.3 | 64.4 |
| Jan 20 | 99.1 | 130.2 | 53.8 |
| Jan 27 | 106.2 | 135.0 | 48.0 |
| Feb 03 | 121.6 | 130.3 | 42.5 |
| Feb 10 | 166.9 | 118.2 | 44.4 |
| Feb 17 | 200.8 | 112.9 | 49.0 |
| Feb 24 | 217.5 | 110.1 | 51.6 |
| Mar 03 | 239.4 | 93.9 | 48.2 |
| Mar 10 | 255.1 | 95.3 | 52.5 |
| Mar 17 | 235.2 | 90.5 | 56.3 |
| Mar 24 | 226.9 | 82.3 | 56.2 |
| Mar 31 | 239.0 | 81.7 | 58.7 |
| Apr 07 | 224.7 | 76.4 | 57.4 |
| Apr 14 | 207.4 | 108.1 | 54.1 |
| Apr 21 | 217.6 | 120.0 | 45.1 |
| Apr 28 | 207.4 | 117.6 | 47.2 |
| May 05 | 248.9 | 109.6 | 52.0 |
| May 12 | 241.9 | 123.2 | 79.6 |
| May 19 | 239.0 | 110.9 | 69.3 |
| May 26 | 231.0 | 125.2 | 73.1 |
| Jun 02 | 218.4 | 115.6 | 80.9 |
| Jun 09 | 173.0 | 123.6 | 72.5 |
| Jun 16 | 152.7 | 138.3 | 71.5 |
| Jun 23 | 136.8 | 124.5 | 65.9 |
| Jun 30 | 128.5 | 114.7 | 68.2 |
| Jul 07 | 148.0 | 111.8 | 61.3 |
| Jul 14 | 144.1 | 107.7 | 58.2 |
| Jul 21 | 172.9 | 108.0 | 57.4 |
| Jul 28 | 191.4 | 103.2 | 59.9 |
Managed money gross short contracts by week of year. Elevated gross shorts represent potential short-covering fuel — a catalyst can force rapid buybacks and amplify a rally.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 63.9 | 135.8 | 81.4 |
| Jan 13 | 93.9 | 90.4 | 95.6 |
| Jan 20 | 89.0 | 89.9 | 130.6 |
| Jan 27 | 88.8 | 78.5 | 139.8 |
| Feb 03 | 92.7 | 73.2 | 150.8 |
| Feb 10 | 43.8 | 89.7 | 174.7 |
| Feb 17 | 37.2 | 96.4 | 183.5 |
| Feb 24 | 33.3 | 101.9 | 188.3 |
| Mar 03 | 40.5 | 129.4 | 208.9 |
| Mar 10 | 33.0 | 110.9 | 224.5 |
| Mar 17 | 33.2 | 112.5 | 211.4 |
| Mar 24 | 28.9 | 125.2 | 204.5 |
| Mar 31 | 25.6 | 111.6 | 193.5 |
| Apr 07 | 35.1 | 126.9 | 195.7 |
| Apr 14 | 32.3 | 81.9 | 193.4 |
| Apr 21 | 24.7 | 89.0 | 213.0 |
| Apr 28 | 22.1 | 79.4 | 196.3 |
| May 05 | 27.3 | 87.7 | 201.2 |
| May 12 | 27.0 | 84.8 | 121.0 |
| May 19 | 31.1 | 98.3 | 112.0 |
| May 26 | 41.5 | 88.5 | 99.5 |
| Jun 02 | 62.4 | 107.0 | 95.1 |
| Jun 09 | 82.3 | 98.0 | 132.2 |
| Jun 16 | 99.9 | 79.1 | 147.4 |
| Jun 23 | 100.1 | 101.1 | 171.8 |
| Jun 30 | 97.3 | 114.3 | 197.8 |
| Jul 07 | 79.3 | 118.1 | 202.2 |
| Jul 14 | 71.4 | 140.0 | 230.8 |
| Jul 21 | 48.0 | 118.9 | 243.1 |
| Jul 28 | 36.4 | 139.5 | 223.6 |
Total open interest. Rising OI with a directional move confirms trend; falling OI suggests position liquidation.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 961.9 | 1,013.3 | 789.5 |
| Jan 13 | 1,018.8 | 1,051.7 | 833.6 |
| Jan 20 | 1,038.4 | 1,113.0 | 874.5 |
| Jan 27 | 1,047.7 | 1,083.5 | 931.4 |
| Feb 03 | 1,084.8 | 1,131.7 | 956.2 |
| Feb 10 | 1,207.2 | 1,131.9 | 991.4 |
| Feb 17 | 1,281.1 | 1,128.4 | 1,005.2 |
| Feb 24 | 1,190.5 | 997.8 | 1,037.6 |
| Mar 03 | 1,241.1 | 1,024.1 | 922.2 |
| Mar 10 | 1,306.2 | 1,014.0 | 927.9 |
| Mar 17 | 1,286.1 | 1,038.1 | 951.8 |
| Mar 24 | 1,255.1 | 1,044.0 | 995.0 |
| Mar 31 | 1,239.7 | 1,064.1 | 1,022.7 |
| Apr 07 | 1,263.3 | 1,128.1 | 1,054.8 |
| Apr 14 | 1,271.0 | 1,063.4 | 1,064.9 |
| Apr 21 | 1,256.9 | 1,069.6 | 1,126.8 |
| Apr 28 | 1,096.4 | 950.1 | 1,057.4 |
| May 05 | 1,193.0 | 986.9 | 911.2 |
| May 12 | 1,236.8 | 1,047.8 | 954.3 |
| May 19 | 1,288.1 | 1,066.9 | 966.1 |
| May 26 | 1,251.8 | 1,052.3 | 1,006.1 |
| Jun 02 | 1,293.1 | 1,073.5 | 1,007.5 |
| Jun 09 | 1,283.6 | 1,038.3 | 1,074.4 |
| Jun 16 | 1,305.5 | 1,040.6 | 1,056.6 |
| Jun 23 | 1,277.5 | 988.6 | 1,067.1 |
| Jun 30 | 1,082.0 | 1,024.3 | 937.4 |
| Jul 07 | 1,202.8 | 1,045.8 | 983.1 |
| Jul 14 | 1,231.2 | 1,115.8 | 1,043.9 |
| Jul 21 | 1,300.4 | 1,144.6 | 1,104.0 |
| Jul 28 | 1,239.4 | 1,069.4 | 1,095.4 |
Nearby futures price (ZS=F). Price shown for context; COT positioning is the primary signal.
% Very Poor + Poor from USDA NASS weekly Crop Progress. Values above 40% (dashed line) correlate with elevated abandonment risk for winter wheat and replant / yield-drag pressure for corn and soybeans. Current year shown in red; prior years muted.
Current-week % Very Poor + Poor by HRW belt state. KS and OK together represent ~50% of US HRW production. Colour tiers each state against its own history at this same point in the season, and the tick marks each state's elevated cut — a single belt-wide line would mislead, because median abandonment runs 6.8% in KS but 34% in OK and 54% in TX, where dual-purpose wheat is grazed out by choice rather than lost to weather. Conditions do predict abandonment (r = +0.71 KS, +0.68 OK, +0.86 TX, 1999–2026); only the threshold is state-specific. Cuts: NE 12/23% · CO 14/32% · TX 20/50% · OK 13/38% · KS 24/43% · SD 6/29%.
Kansas plants 28% of US winter wheat but carries only 11% of the abandoned acres; TX and OK are 34% of the area and 71% of the losses. Cumulative acres across closed crop years since 1999, so one catastrophic year in a small state cannot distort the ranking. Much of the TX and OK gap is dual-purpose wheat grazed out by economic choice rather than lost to weather, so a belt-wide abandonment figure tracks a planting decision as much as crop stress — read it alongside the condition tiers above, not instead of them. Source: USDA NASS state planted and harvested acres.
| State | Planted share | Abandoned share | Median rate | Worst year | Worst rate |
|---|---|---|---|---|---|
| TX | 17.9% | 44.9% | 54.3% | 2022 | 75.5% |
| OK | 16.5% | 26.3% | 34.1% | 2014 | 47.2% |
| KS | 27.9% | 11.1% | 6.8% | 2023 | 29.0% |
| CO | 7.3% | 4.6% | 11.6% | 2002 | 29.8% |
| SD | 4.0% | 3.2% | 11.2% | 2001 | 71.5% |
| MT | 6.2% | 2.3% | 5.7% | 2002 | 46.2% |
| MO | 2.5% | 1.8% | 15.6% | 2022 | 34.9% |
| NE | 4.6% | 1.8% | 7.9% | 2013 | 22.4% |
| AR | 1.5% | 1.1% | 19.1% | 2019 | 54.5% |
| WA | 5.6% | 0.8% | 2.8% | 1999 | 12.1% |
| IL | 2.4% | 0.7% | 4.8% | 2019 | 15.4% |
| OH | 2.3% | 0.6% | 5.8% | 2019 | 23.0% |
| IN | 1.2% | 0.6% | 10.3% | 2025 | 25.0% |
USDA NASS weekly crop condition ratings. % Good + Excellent is the headline figure watched by traders. Values above 60% (green) signal favorable conditions; below 40% (red) indicates significant crop stress.
USDA NASS weekly fall planting progress. Pace relative to prior years signals early or delayed establishment entering winter.
USDA NASS weekly crop heading progress. Pace of heading relative to prior years reflects crop development speed and informs harvest timing expectations.
Average drought coverage across SRW Belt states (OH, IN, IL, MI, MO, KY). D2+ (Severe/Extreme/Exceptional) coverage ≥ 30% of the belt is historically significant for yield.
| Date | D0+ (%) | D2+ (%) | D3+ (%) | D4 (%) |
|---|---|---|---|---|
| 2025-08-05 | 12.8 | 0.2 | 0.0 | 0.0 |
| 2025-08-12 | 21.4 | 0.2 | 0.0 | 0.0 |
| 2025-08-19 | 31.0 | 0.1 | 0.0 | 0.0 |
| 2025-08-26 | 47.9 | 0.1 | 0.0 | 0.0 |
| 2025-09-02 | 74.0 | 0.3 | 0.0 | 0.0 |
| 2025-09-09 | 74.8 | 4.5 | 0.0 | 0.0 |
| 2025-09-16 | 87.2 | 16.1 | 1.1 | 0.0 |
| 2025-09-23 | 87.9 | 17.7 | 1.5 | 0.0 |
| 2025-09-30 | 87.4 | 16.0 | 0.8 | 0.0 |
| 2025-10-07 | 87.6 | 19.6 | 2.1 | 0.0 |
| 2025-10-14 | 76.4 | 21.9 | 3.6 | 0.0 |
| 2025-10-21 | 71.0 | 15.2 | 3.1 | 0.0 |
| 2025-10-28 | 65.5 | 17.9 | 3.6 | 0.0 |
| 2025-11-04 | 59.6 | 16.6 | 2.8 | 0.0 |
| 2025-11-11 | 55.2 | 15.9 | 2.8 | 0.0 |
| 2025-11-18 | 56.5 | 16.5 | 3.1 | 0.0 |
| 2025-11-25 | 51.8 | 12.7 | 3.1 | 0.0 |
| 2025-12-02 | 52.7 | 10.0 | 3.0 | 0.0 |
| 2025-12-09 | 53.5 | 10.1 | 3.1 | 0.0 |
| 2025-12-16 | 57.8 | 10.0 | 3.1 | 0.0 |
| 2025-12-23 | 58.9 | 9.9 | 3.1 | 0.0 |
| 2025-12-30 | 62.7 | 7.9 | 2.9 | 0.0 |
| 2026-01-06 | 67.0 | 11.7 | 3.8 | 0.0 |
| 2026-01-13 | 61.8 | 12.6 | 3.8 | 0.0 |
| 2026-01-20 | 63.0 | 13.3 | 3.9 | 0.0 |
| 2026-01-27 | 59.7 | 13.3 | 3.9 | 0.0 |
| 2026-02-03 | 59.4 | 13.5 | 4.0 | 0.0 |
| 2026-02-10 | 59.9 | 17.4 | 4.0 | 0.0 |
| 2026-02-17 | 57.1 | 17.4 | 5.5 | 0.0 |
| 2026-02-24 | 57.2 | 18.0 | 5.5 | 0.0 |
| 2026-03-03 | 65.1 | 18.0 | 6.4 | 0.0 |
| 2026-03-10 | 53.2 | 11.9 | 3.6 | 0.0 |
| 2026-03-17 | 43.6 | 8.7 | 2.4 | 0.0 |
| 2026-03-24 | 44.5 | 6.4 | 1.1 | 0.0 |
| 2026-03-31 | 52.1 | 4.5 | 0.5 | 0.0 |
| 2026-04-07 | 39.0 | 4.3 | 0.1 | 0.0 |
| 2026-04-14 | 38.2 | 6.3 | 1.6 | 0.0 |
| 2026-04-21 | 29.8 | 8.0 | 3.0 | 0.0 |
| 2026-04-28 | 23.6 | 10.7 | 3.5 | 0.0 |
| 2026-05-05 | 23.0 | 10.7 | 3.5 | 0.0 |
| 2026-05-12 | 25.6 | 11.2 | 4.2 | 0.0 |
| 2026-05-19 | 29.5 | 14.8 | 7.6 | 0.1 |
| 2026-05-26 | 27.8 | 11.9 | 1.3 | 0.0 |
| 2026-06-02 | 32.8 | 4.8 | 1.0 | 0.0 |
| 2026-06-09 | 30.8 | 4.5 | 0.8 | 0.0 |
| 2026-06-16 | 20.9 | 4.3 | 1.4 | 0.0 |
| 2026-06-23 | 18.2 | 3.1 | 0.7 | 0.0 |
| 2026-06-30 | 10.9 | 1.4 | 0.0 | 0.0 |
| 2026-07-07 | 11.7 | 1.2 | 0.0 | 0.0 |
| 2026-07-14 | 9.4 | 0.5 | 0.0 | 0.0 |
| 2026-07-21 | 10.3 | 0.7 | 0.0 | 0.0 |
| 2026-07-28 | 16.5 | 0.7 | 0.0 | 0.0 |
D2+ (Severe + Extreme + Exceptional) drought coverage by week of year. Overlapping years allow comparison of current drought intensity vs. historical patterns.
| Date | 2026 (%) | 2025 (%) | 2024 (%) |
|---|---|---|---|
| Jan 01 | 11.7 | 3.1 | 14.6 |
| Jan 08 | 12.6 | 3.1 | 14.1 |
| Jan 15 | 13.3 | 3.1 | 3.0 |
| Jan 22 | 13.3 | 1.5 | 2.5 |
| Jan 29 | 13.5 | 1.5 | 0.2 |
| Feb 05 | 17.4 | 1.5 | 0.2 |
| Feb 12 | 17.4 | 1.5 | 0.2 |
| Feb 19 | 18.0 | 3.6 | 0.5 |
| Feb 26 | 18.0 | 4.2 | 0.5 |
| Mar 05 | 11.9 | 4.0 | 1.5 |
| Mar 12 | 8.7 | 4.1 | 1.2 |
| Mar 19 | 6.4 | 2.7 | 1.3 |
| Mar 26 | 4.5 | 1.5 | 1.0 |
| Apr 02 | 4.3 | 0.2 | 1.0 |
| Apr 09 | 6.3 | 0.2 | 1.5 |
| Apr 16 | 8.0 | 0.2 | 0.8 |
| Apr 23 | 10.7 | 0.2 | 1.1 |
| Apr 30 | 10.7 | 0.2 | 0.5 |
| May 07 | 11.2 | 0.2 | 0.2 |
| May 14 | 14.8 | 0.2 | 0.2 |
| May 21 | 11.9 | 0.2 | 0.0 |
| May 28 | 4.8 | 0.3 | 0.0 |
| Jun 04 | 4.5 | 0.2 | 0.0 |
| Jun 11 | 4.3 | 0.2 | 0.0 |
| Jun 18 | 3.1 | 0.2 | 0.0 |
| Jun 25 | 1.4 | 0.2 | 0.0 |
| Jul 02 | 1.2 | 0.5 | 0.0 |
| Jul 09 | 0.5 | 0.2 | 0.0 |
| Jul 16 | 0.7 | 0.3 | 1.4 |
| Jul 23 | 0.7 | 0.1 | 1.6 |
Average drought coverage across HRW Belt states (KS, OK, TX, CO, NE, SD). D2+ (Severe/Extreme/Exceptional) coverage ≥ 30% of the belt is historically significant for yield.
| Date | D0+ (%) | D2+ (%) | D3+ (%) | D4 (%) |
|---|---|---|---|---|
| 2025-08-05 | 30.7 | 8.3 | 4.1 | 0.1 |
| 2025-08-12 | 32.7 | 9.2 | 4.1 | 1.3 |
| 2025-08-19 | 36.9 | 9.5 | 5.5 | 1.2 |
| 2025-08-26 | 35.1 | 9.3 | 5.4 | 1.2 |
| 2025-09-02 | 35.2 | 8.8 | 4.8 | 0.1 |
| 2025-09-09 | 37.5 | 8.7 | 4.6 | 0.1 |
| 2025-09-16 | 40.7 | 8.2 | 3.1 | 0.1 |
| 2025-09-23 | 35.9 | 8.0 | 3.1 | 0.1 |
| 2025-09-30 | 37.5 | 8.2 | 2.9 | 0.1 |
| 2025-10-07 | 43.9 | 8.0 | 3.0 | 0.1 |
| 2025-10-14 | 49.4 | 5.3 | 1.0 | 0.1 |
| 2025-10-21 | 50.7 | 5.8 | 1.2 | 0.1 |
| 2025-10-28 | 46.9 | 5.4 | 0.8 | 0.0 |
| 2025-11-04 | 50.2 | 6.3 | 0.9 | 0.0 |
| 2025-11-11 | 52.5 | 8.1 | 1.2 | 0.0 |
| 2025-11-18 | 56.5 | 8.9 | 1.8 | 0.0 |
| 2025-11-25 | 56.3 | 8.2 | 1.8 | 0.0 |
| 2025-12-02 | 54.6 | 7.9 | 1.6 | 0.1 |
| 2025-12-09 | 55.4 | 7.8 | 1.5 | 0.1 |
| 2025-12-16 | 54.6 | 7.8 | 2.1 | 0.1 |
| 2025-12-23 | 60.1 | 8.8 | 2.5 | 0.1 |
| 2025-12-30 | 64.6 | 9.0 | 2.8 | 0.1 |
| 2026-01-06 | 68.5 | 12.3 | 3.4 | 0.2 |
| 2026-01-13 | 63.1 | 13.1 | 4.4 | 0.2 |
| 2026-01-20 | 64.3 | 14.5 | 5.1 | 0.2 |
| 2026-01-27 | 65.5 | 15.1 | 4.8 | 0.2 |
| 2026-02-03 | 69.4 | 16.9 | 5.3 | 0.2 |
| 2026-02-10 | 73.8 | 19.3 | 6.4 | 0.2 |
| 2026-02-17 | 74.4 | 20.6 | 6.7 | 0.2 |
| 2026-02-24 | 76.6 | 23.4 | 7.5 | 0.4 |
| 2026-03-03 | 80.5 | 29.9 | 8.1 | 0.7 |
| 2026-03-10 | 80.3 | 30.1 | 9.1 | 0.7 |
| 2026-03-17 | 83.5 | 36.7 | 10.5 | 0.7 |
| 2026-03-24 | 87.3 | 47.5 | 15.6 | 1.7 |
| 2026-03-31 | 92.1 | 56.2 | 27.1 | 4.4 |
| 2026-04-07 | 92.4 | 54.8 | 24.2 | 4.0 |
| 2026-04-14 | 88.7 | 58.7 | 26.1 | 3.9 |
| 2026-04-21 | 87.7 | 57.7 | 28.9 | 3.9 |
| 2026-04-28 | 86.7 | 57.2 | 29.8 | 3.5 |
| 2026-05-05 | 86.8 | 56.2 | 30.6 | 3.8 |
| 2026-05-12 | 88.3 | 55.4 | 30.4 | 4.8 |
| 2026-05-19 | 89.2 | 53.9 | 30.3 | 3.8 |
| 2026-05-26 | 89.2 | 53.1 | 29.1 | 4.0 |
| 2026-06-02 | 85.7 | 47.9 | 25.8 | 4.7 |
| 2026-06-09 | 81.8 | 44.0 | 22.1 | 3.8 |
| 2026-06-16 | 79.2 | 43.7 | 22.0 | 3.9 |
| 2026-06-23 | 76.0 | 43.1 | 21.2 | 4.0 |
| 2026-06-30 | 71.4 | 36.6 | 15.0 | 2.6 |
| 2026-07-07 | 71.0 | 35.7 | 15.4 | 2.6 |
| 2026-07-14 | 69.1 | 34.8 | 15.1 | 2.8 |
| 2026-07-21 | 69.9 | 35.4 | 15.9 | 2.9 |
| 2026-07-28 | 72.4 | 37.9 | 16.5 | 3.1 |
D2+ (Severe + Extreme + Exceptional) drought coverage by week of year. Overlapping years allow comparison of current drought intensity vs. historical patterns.
| Date | 2026 (%) | 2025 (%) | 2024 (%) |
|---|---|---|---|
| Jan 01 | 12.3 | 19.8 | 11.3 |
| Jan 08 | 13.1 | 20.2 | 9.2 |
| Jan 15 | 14.5 | 20.1 | 8.6 |
| Jan 22 | 15.0 | 18.5 | 6.5 |
| Jan 29 | 16.9 | 19.8 | 6.1 |
| Feb 05 | 19.2 | 20.2 | 5.3 |
| Feb 12 | 20.6 | 19.6 | 4.5 |
| Feb 19 | 23.4 | 20.3 | 4.5 |
| Feb 26 | 29.9 | 21.1 | 4.5 |
| Mar 05 | 30.1 | 21.1 | 4.5 |
| Mar 12 | 36.7 | 25.2 | 4.6 |
| Mar 19 | 47.5 | 29.2 | 4.0 |
| Mar 26 | 56.2 | 28.8 | 3.0 |
| Apr 02 | 54.8 | 23.2 | 2.9 |
| Apr 09 | 58.7 | 24.1 | 2.9 |
| Apr 16 | 57.7 | 22.5 | 4.4 |
| Apr 23 | 57.3 | 19.1 | 7.0 |
| Apr 30 | 56.2 | 19.4 | 9.1 |
| May 07 | 55.4 | 21.6 | 8.2 |
| May 14 | 53.9 | 19.9 | 8.8 |
| May 21 | 53.1 | 17.5 | 7.6 |
| May 28 | 47.9 | 15.0 | 7.9 |
| Jun 04 | 43.9 | 12.5 | 5.0 |
| Jun 11 | 43.7 | 11.8 | 3.9 |
| Jun 18 | 43.2 | 12.0 | 3.7 |
| Jun 25 | 36.6 | 10.4 | 3.1 |
| Jul 02 | 35.7 | 8.8 | 3.4 |
| Jul 09 | 34.8 | 9.4 | 3.9 |
| Jul 16 | 35.4 | 9.0 | 4.0 |
| Jul 23 | 37.9 | 8.8 | 4.4 |
Managed money (hedge funds & CTAs) net long position by week of year, overlapping across all available years.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | -107.2 | -88.6 | -60.3 |
| Jan 13 | -106.2 | -94.4 | -58.0 |
| Jan 20 | -110.7 | -91.8 | -68.6 |
| Jan 27 | -94.7 | -110.8 | -64.5 |
| Feb 03 | -81.8 | -90.4 | -64.8 |
| Feb 10 | -85.7 | -82.8 | -66.7 |
| Feb 17 | -68.0 | -61.6 | -55.7 |
| Feb 24 | -17.3 | -67.6 | -68.5 |
| Mar 03 | -25.8 | -82.4 | -56.3 |
| Mar 10 | -22.3 | -77.4 | -65.5 |
| Mar 17 | -12.7 | -80.7 | -78.9 |
| Mar 24 | -2.2 | -92.6 | -80.6 |
| Mar 31 | 8.6 | -112.0 | -92.1 |
| Apr 07 | -5.6 | -102.1 | -91.9 |
| Apr 14 | -7.3 | -96.4 | -86.6 |
| Apr 21 | -10.7 | -89.9 | -96.4 |
| Apr 28 | 10.7 | -121.4 | -76.2 |
| May 05 | -9.9 | -113.7 | -47.9 |
| May 12 | -19.0 | -126.9 | -42.4 |
| May 19 | -4.8 | -108.9 | -28.3 |
| May 26 | -18.7 | -101.2 | -24.6 |
| Jun 02 | -57.9 | -100.6 | -25.4 |
| Jun 09 | -79.4 | -94.0 | -31.7 |
| Jun 16 | -69.5 | -81.4 | -45.1 |
| Jun 23 | -71.2 | -64.7 | -52.7 |
| Jun 30 | -69.0 | -63.1 | -70.5 |
| Jul 07 | -62.3 | -55.6 | -74.0 |
| Jul 14 | -36.8 | -60.5 | -69.1 |
| Jul 21 | -19.3 | -52.0 | -75.9 |
| Jul 28 | -6.9 | -65.3 | -75.2 |
Commercial hedger net position. Commercials are structurally short (forward sellers); a move toward net long is historically bullish.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 86.7 | 81.5 | 44.5 |
| Jan 13 | 85.8 | 84.5 | 47.1 |
| Jan 20 | 91.7 | 79.7 | 56.3 |
| Jan 27 | 79.5 | 98.1 | 52.8 |
| Feb 03 | 70.9 | 80.9 | 46.0 |
| Feb 10 | 74.3 | 73.2 | 45.3 |
| Feb 17 | 60.2 | 61.2 | 35.0 |
| Feb 24 | 20.8 | 73.6 | 50.6 |
| Mar 03 | 26.6 | 88.5 | 40.1 |
| Mar 10 | 27.6 | 86.4 | 48.6 |
| Mar 17 | 25.2 | 82.7 | 57.9 |
| Mar 24 | 19.4 | 88.9 | 60.6 |
| Mar 31 | 8.7 | 102.4 | 64.2 |
| Apr 07 | 19.9 | 94.8 | 62.4 |
| Apr 14 | 16.4 | 90.2 | 55.6 |
| Apr 21 | 23.3 | 90.3 | 66.3 |
| Apr 28 | -0.4 | 114.6 | 53.1 |
| May 05 | 11.0 | 107.5 | 35.3 |
| May 12 | 18.4 | 119.2 | 32.6 |
| May 19 | 3.8 | 105.8 | 21.6 |
| May 26 | 9.4 | 99.3 | 28.7 |
| Jun 02 | 44.5 | 99.1 | 25.4 |
| Jun 09 | 64.7 | 95.2 | 29.5 |
| Jun 16 | 60.0 | 89.8 | 38.0 |
| Jun 23 | 59.9 | 75.2 | 46.7 |
| Jun 30 | 65.1 | 76.6 | 53.3 |
| Jul 07 | 57.2 | 71.8 | 54.0 |
| Jul 14 | 24.4 | 74.9 | 50.7 |
| Jul 21 | 19.1 | 65.4 | 55.4 |
| Jul 28 | 7.1 | 74.7 | 54.7 |
Managed money gross long contracts by week of year. Elevated gross longs signal crowded positioning and potential liquidation pressure if sentiment shifts.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 92.0 | 86.4 | 69.8 |
| Jan 13 | 91.3 | 85.1 | 70.3 |
| Jan 20 | 87.5 | 83.2 | 73.5 |
| Jan 27 | 87.7 | 77.0 | 71.2 |
| Feb 03 | 88.2 | 74.7 | 73.1 |
| Feb 10 | 88.9 | 76.3 | 75.1 |
| Feb 17 | 85.5 | 70.8 | 79.3 |
| Feb 24 | 104.8 | 70.5 | 80.9 |
| Mar 03 | 94.1 | 77.3 | 85.0 |
| Mar 10 | 96.0 | 77.9 | 89.3 |
| Mar 17 | 100.8 | 75.0 | 77.4 |
| Mar 24 | 109.7 | 73.8 | 80.7 |
| Mar 31 | 117.4 | 69.5 | 78.0 |
| Apr 07 | 109.4 | 71.7 | 80.2 |
| Apr 14 | 102.3 | 69.4 | 77.9 |
| Apr 21 | 95.2 | 75.9 | 76.5 |
| Apr 28 | 106.2 | 72.3 | 79.2 |
| May 05 | 99.5 | 77.4 | 78.4 |
| May 12 | 100.8 | 80.2 | 77.8 |
| May 19 | 110.7 | 83.8 | 83.4 |
| May 26 | 107.9 | 75.4 | 83.8 |
| Jun 02 | 81.9 | 75.1 | 81.7 |
| Jun 09 | 65.0 | 72.5 | 79.0 |
| Jun 16 | 68.6 | 71.4 | 62.8 |
| Jun 23 | 66.8 | 71.9 | 58.7 |
| Jun 30 | 68.1 | 78.9 | 62.5 |
| Jul 07 | 72.7 | 83.8 | 68.4 |
| Jul 14 | 76.0 | 84.8 | 70.0 |
| Jul 21 | 74.1 | 92.9 | 68.5 |
| Jul 28 | 83.7 | 89.4 | 71.6 |
Managed money gross short contracts by week of year. Elevated gross shorts represent potential short-covering fuel — a catalyst can force rapid buybacks and amplify a rally.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 199.1 | 175.0 | 130.1 |
| Jan 13 | 197.5 | 179.5 | 128.3 |
| Jan 20 | 198.2 | 175.0 | 142.1 |
| Jan 27 | 182.5 | 187.8 | 135.8 |
| Feb 03 | 170.0 | 165.1 | 138.0 |
| Feb 10 | 174.6 | 159.1 | 141.9 |
| Feb 17 | 153.5 | 132.3 | 135.0 |
| Feb 24 | 122.1 | 138.1 | 149.4 |
| Mar 03 | 119.9 | 159.7 | 141.3 |
| Mar 10 | 118.4 | 155.4 | 154.8 |
| Mar 17 | 113.5 | 155.6 | 156.3 |
| Mar 24 | 111.9 | 166.3 | 161.3 |
| Mar 31 | 108.7 | 181.6 | 170.1 |
| Apr 07 | 115.0 | 173.8 | 172.2 |
| Apr 14 | 109.6 | 165.9 | 164.5 |
| Apr 21 | 105.9 | 165.9 | 172.9 |
| Apr 28 | 95.5 | 193.8 | 155.3 |
| May 05 | 109.4 | 191.1 | 126.2 |
| May 12 | 119.8 | 207.1 | 120.1 |
| May 19 | 115.5 | 192.7 | 111.7 |
| May 26 | 126.6 | 176.6 | 108.4 |
| Jun 02 | 139.7 | 175.6 | 107.1 |
| Jun 09 | 144.4 | 166.5 | 110.7 |
| Jun 16 | 138.1 | 152.7 | 107.9 |
| Jun 23 | 138.1 | 136.6 | 111.4 |
| Jun 30 | 137.2 | 142.0 | 133.0 |
| Jul 07 | 135.0 | 139.4 | 142.4 |
| Jul 14 | 112.8 | 145.3 | 139.1 |
| Jul 21 | 93.4 | 145.0 | 144.4 |
| Jul 28 | 90.6 | 154.7 | 146.8 |
Total open interest. Rising OI with a directional move confirms trend; falling OI suggests position liquidation.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 561.4 | 556.2 | 416.1 |
| Jan 13 | 576.8 | 571.4 | 427.3 |
| Jan 20 | 585.0 | 582.5 | 458.5 |
| Jan 27 | 597.3 | 598.2 | 467.6 |
| Feb 03 | 612.0 | 599.2 | 459.2 |
| Feb 10 | 590.5 | 568.5 | 469.3 |
| Feb 17 | 544.1 | 576.4 | 448.4 |
| Feb 24 | 516.2 | 482.3 | 455.3 |
| Mar 03 | 515.1 | 526.9 | 415.0 |
| Mar 10 | 562.2 | 533.2 | 451.8 |
| Mar 17 | 580.8 | 548.7 | 451.4 |
| Mar 24 | 595.8 | 546.9 | 477.6 |
| Mar 31 | 593.4 | 584.2 | 465.0 |
| Apr 07 | 605.8 | 572.1 | 471.1 |
| Apr 14 | 565.3 | 558.9 | 457.3 |
| Apr 21 | 557.3 | 547.9 | 449.4 |
| Apr 28 | 520.9 | 511.5 | 453.3 |
| May 05 | 540.5 | 525.5 | 423.6 |
| May 12 | 586.7 | 554.3 | 448.7 |
| May 19 | 608.9 | 549.6 | 492.0 |
| May 26 | 584.3 | 534.8 | 515.1 |
| Jun 02 | 580.4 | 534.3 | 516.1 |
| Jun 09 | 562.6 | 506.3 | 517.6 |
| Jun 16 | 554.1 | 488.4 | 489.8 |
| Jun 23 | 534.8 | 425.4 | 504.8 |
| Jun 30 | 479.0 | 434.5 | 470.8 |
| Jul 07 | 492.0 | 446.2 | 472.5 |
| Jul 14 | 528.7 | 469.2 | 485.5 |
| Jul 21 | 578.2 | 492.2 | 506.2 |
| Jul 28 | 566.4 | 496.8 | 511.0 |
Nearby futures price (ZW=F). Price shown for context; COT positioning is the primary signal.
Managed money (hedge funds & CTAs) net long position by week of year, overlapping across all available years.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | -15.7 | -31.9 | -34.5 |
| Jan 13 | -12.8 | -37.6 | -34.2 |
| Jan 20 | -13.0 | -35.1 | -38.7 |
| Jan 27 | -10.3 | -42.4 | -38.3 |
| Feb 03 | -8.8 | -36.0 | -33.4 |
| Feb 10 | -19.5 | -30.2 | -33.4 |
| Feb 17 | -10.6 | -22.1 | -36.4 |
| Feb 24 | 4.2 | -21.3 | -41.9 |
| Mar 03 | 1.9 | -39.3 | -42.1 |
| Mar 10 | 9.4 | -48.7 | -40.9 |
| Mar 17 | 10.7 | -46.7 | -35.5 |
| Mar 24 | 9.7 | -45.5 | -37.9 |
| Mar 31 | 21.5 | -45.7 | -42.6 |
| Apr 07 | 15.6 | -49.8 | -40.5 |
| Apr 14 | 16.9 | -47.4 | -44.6 |
| Apr 21 | 28.0 | -56.6 | -49.2 |
| Apr 28 | 30.6 | -67.3 | -48.2 |
| May 05 | 37.9 | -72.2 | -29.6 |
| May 12 | 37.8 | -80.8 | -24.0 |
| May 19 | 30.1 | -80.2 | -17.3 |
| May 26 | 26.9 | -79.4 | -16.8 |
| Jun 02 | 13.5 | -78.0 | -9.7 |
| Jun 09 | -4.5 | -75.0 | -13.5 |
| Jun 16 | 7.6 | -62.2 | -16.4 |
| Jun 23 | -1.3 | -43.5 | -29.0 |
| Jun 30 | 6.9 | -42.3 | -37.1 |
| Jul 07 | 11.8 | -43.3 | -43.1 |
| Jul 14 | 17.5 | -48.0 | -40.8 |
| Jul 21 | 29.9 | -44.0 | -43.9 |
| Jul 28 | 33.2 | -47.3 | -40.9 |
Commercial hedger net position. Commercials are structurally short (forward sellers); a move toward net long is historically bullish.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 3.2 | 19.8 | 25.2 |
| Jan 13 | 7.1 | 24.8 | 23.7 |
| Jan 20 | 12.7 | 21.7 | 32.5 |
| Jan 27 | 8.1 | 29.0 | 29.3 |
| Feb 03 | 11.0 | 17.2 | 22.6 |
| Feb 10 | 22.5 | 13.9 | 24.2 |
| Feb 17 | 10.2 | 4.3 | 30.7 |
| Feb 24 | -6.2 | 9.7 | 35.2 |
| Mar 03 | 2.2 | 34.5 | 32.4 |
| Mar 10 | -2.2 | 42.2 | 31.6 |
| Mar 17 | -3.7 | 34.8 | 27.7 |
| Mar 24 | 0.2 | 38.2 | 33.2 |
| Mar 31 | -11.7 | 39.4 | 37.3 |
| Apr 07 | -1.1 | 45.2 | 38.6 |
| Apr 14 | 0.5 | 42.8 | 42.7 |
| Apr 21 | -13.3 | 44.8 | 45.7 |
| Apr 28 | -14.9 | 55.4 | 39.0 |
| May 05 | -16.6 | 58.2 | 28.2 |
| May 12 | -15.0 | 63.4 | 22.2 |
| May 19 | -4.5 | 58.3 | 13.2 |
| May 26 | -2.1 | 61.1 | 16.4 |
| Jun 02 | 7.3 | 61.1 | 11.5 |
| Jun 09 | 19.4 | 58.8 | 14.9 |
| Jun 16 | 11.2 | 47.3 | 20.1 |
| Jun 23 | 17.8 | 35.1 | 29.2 |
| Jun 30 | 14.6 | 31.7 | 40.0 |
| Jul 07 | 9.2 | 33.4 | 35.9 |
| Jul 14 | -1.3 | 34.6 | 36.1 |
| Jul 21 | -12.9 | 26.9 | 34.6 |
| Jul 28 | -17.3 | 29.9 | 32.6 |
Managed money gross long contracts by week of year. Elevated gross longs signal crowded positioning and potential liquidation pressure if sentiment shifts.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 66.3 | 51.4 | 36.3 |
| Jan 13 | 64.8 | 47.8 | 37.0 |
| Jan 20 | 63.0 | 51.3 | 38.6 |
| Jan 27 | 63.4 | 49.6 | 39.7 |
| Feb 03 | 70.2 | 45.6 | 41.4 |
| Feb 10 | 64.4 | 39.5 | 43.7 |
| Feb 17 | 68.0 | 33.5 | 45.4 |
| Feb 24 | 75.1 | 30.4 | 45.8 |
| Mar 03 | 69.1 | 28.9 | 49.2 |
| Mar 10 | 68.7 | 31.4 | 51.9 |
| Mar 17 | 70.9 | 29.4 | 54.1 |
| Mar 24 | 68.9 | 29.5 | 55.4 |
| Mar 31 | 71.9 | 37.3 | 50.9 |
| Apr 07 | 73.2 | 37.4 | 52.7 |
| Apr 14 | 62.1 | 40.4 | 46.0 |
| Apr 21 | 67.6 | 37.5 | 42.9 |
| Apr 28 | 70.9 | 39.6 | 40.8 |
| May 05 | 75.5 | 38.9 | 36.3 |
| May 12 | 73.9 | 34.9 | 36.1 |
| May 19 | 74.4 | 36.5 | 38.3 |
| May 26 | 70.9 | 34.1 | 39.9 |
| Jun 02 | 59.2 | 33.5 | 44.7 |
| Jun 09 | 53.2 | 31.8 | 46.3 |
| Jun 16 | 58.9 | 33.0 | 43.2 |
| Jun 23 | 56.5 | 31.3 | 34.4 |
| Jun 30 | 59.9 | 35.0 | 40.7 |
| Jul 07 | 64.5 | 37.4 | 43.1 |
| Jul 14 | 63.1 | 39.7 | 40.8 |
| Jul 21 | 66.6 | 45.2 | 38.7 |
| Jul 28 | 65.8 | 41.3 | 38.4 |
Managed money gross short contracts by week of year. Elevated gross shorts represent potential short-covering fuel — a catalyst can force rapid buybacks and amplify a rally.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 81.9 | 83.3 | 70.8 |
| Jan 13 | 77.6 | 85.4 | 71.2 |
| Jan 20 | 76.0 | 86.4 | 77.2 |
| Jan 27 | 73.7 | 91.9 | 78.1 |
| Feb 03 | 79.1 | 81.6 | 74.7 |
| Feb 10 | 83.9 | 69.8 | 77.1 |
| Feb 17 | 78.6 | 55.6 | 81.8 |
| Feb 24 | 70.9 | 51.7 | 87.7 |
| Mar 03 | 67.3 | 68.1 | 91.3 |
| Mar 10 | 59.3 | 80.1 | 92.8 |
| Mar 17 | 60.2 | 76.0 | 89.7 |
| Mar 24 | 59.2 | 75.0 | 93.2 |
| Mar 31 | 50.3 | 83.0 | 93.6 |
| Apr 07 | 57.6 | 87.2 | 93.2 |
| Apr 14 | 45.2 | 87.8 | 90.7 |
| Apr 21 | 39.6 | 94.1 | 92.2 |
| Apr 28 | 40.2 | 106.9 | 89.0 |
| May 05 | 37.6 | 111.1 | 65.9 |
| May 12 | 36.1 | 115.7 | 60.1 |
| May 19 | 44.3 | 116.6 | 55.5 |
| May 26 | 44.0 | 113.5 | 56.7 |
| Jun 02 | 45.7 | 111.6 | 54.4 |
| Jun 09 | 57.7 | 106.8 | 59.8 |
| Jun 16 | 51.3 | 95.2 | 59.6 |
| Jun 23 | 57.8 | 74.7 | 63.4 |
| Jun 30 | 52.9 | 77.3 | 77.8 |
| Jul 07 | 52.7 | 80.7 | 86.3 |
| Jul 14 | 45.6 | 87.7 | 81.6 |
| Jul 21 | 36.7 | 89.2 | 82.6 |
| Jul 28 | 32.5 | 88.6 | 79.3 |
Total open interest. Rising OI with a directional move confirms trend; falling OI suggests position liquidation.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 06 | 314.3 | 291.5 | 221.6 |
| Jan 13 | 316.9 | 300.1 | 226.1 |
| Jan 20 | 325.1 | 313.2 | 232.3 |
| Jan 27 | 330.4 | 304.7 | 241.7 |
| Feb 03 | 334.5 | 294.8 | 252.2 |
| Feb 10 | 315.9 | 278.9 | 266.1 |
| Feb 17 | 329.3 | 274.4 | 270.1 |
| Feb 24 | 326.6 | 240.8 | 269.4 |
| Mar 03 | 317.7 | 258.2 | 261.6 |
| Mar 10 | 323.2 | 273.9 | 276.2 |
| Mar 17 | 336.3 | 276.3 | 288.6 |
| Mar 24 | 341.7 | 282.0 | 294.6 |
| Mar 31 | 331.4 | 301.9 | 295.6 |
| Apr 07 | 329.0 | 287.5 | 316.9 |
| Apr 14 | 333.7 | 293.6 | 298.2 |
| Apr 21 | 339.9 | 285.4 | 291.8 |
| Apr 28 | 322.7 | 281.2 | 285.0 |
| May 05 | 337.4 | 298.2 | 254.2 |
| May 12 | 356.3 | 315.0 | 258.9 |
| May 19 | 355.1 | 322.0 | 267.4 |
| May 26 | 349.1 | 314.4 | 273.6 |
| Jun 02 | 346.4 | 318.8 | 282.2 |
| Jun 09 | 324.3 | 320.9 | 281.3 |
| Jun 16 | 322.4 | 309.2 | 260.7 |
| Jun 23 | 300.8 | 275.8 | 257.5 |
| Jun 30 | 284.8 | 278.3 | 242.3 |
| Jul 07 | 296.9 | 281.9 | 253.1 |
| Jul 14 | 301.0 | 290.6 | 253.9 |
| Jul 21 | 345.5 | 299.7 | 258.6 |
| Jul 28 | 352.1 | 303.9 | 258.1 |
Nearby futures price (KE=F). Price shown for context; COT positioning is the primary signal.
Source: USDA WASDE · WASDE #673