The Positioning Report | US — Softs

Sugar No. 11

CFTC Code 080732 · COT data through 2026-07-14

14.82 ¢/lb

MM Net Position

-94,593

Managed money long minus short

14th pct

MM Gross Long

188,662 cts

Managed money gross long contracts

76th pct

MM Gross Short

283,255 cts

Managed money gross short contracts

94th pct

MM Week-over-Week

+3,120

Change in managed money net

Open Interest

1,180,502 cts

Total open interest (all participants)

87th pct

Commercial Net

+39,500

Prod/merchant + swap dealer net

84th pct

Price WoW Change

-0.06 ¢/lb

-0.4% · latest 14.82 ¢/lb

Managed money is Heavily Short (14th percentile) relative to the full history of this market. Managed money added 3,120 net contracts week-over-week. Commercial hedgers hold a net long position of 39,500 contracts. Open interest is at an elevated level historically (87th percentile).

Managed money (hedge funds & CTAs) net long position by week of year, overlapping across all available years. Extreme readings — especially multi-year highs or lows — historically coincide with price turning points.

Sugar No. 11 managed money net position by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	-142.9	47.5	18.2
Jan 13	-139.4	-0.5	15.9
Jan 20	-148.8	-51.7	14.8
Jan 27	-139.2	-49.5	28.9
Feb 03	-187.4	-53.1	43.8
Feb 10	-211.8	-45.2	55.1
Feb 17	-241.8	-10.9	60.0
Feb 24	-241.1	51.3	56.9
Mar 03	-248.3	34.9	70.6
Mar 10	-211.1	18.3	45.5
Mar 17	-204.7	66.2	52.2
Mar 24	-76.8	91.3	55.5
Mar 31	-49.6	96.1	68.5
Apr 07	-65.3	94.8	89.2
Apr 14	-142.3	50.4	78.4
Apr 21	-189.6	45.9	34.9
Apr 28	-187.3	34.5	11.7
May 05	-114.1	11.3	0.0
May 12	-100.5	20.4	-9.8
May 19	-84.0	18.8	-19.1
May 26	-92.3	5.6	-38.4
Jun 02	-122.5	-18.4	-42.2
Jun 09	-130.3	-38.5	-49.7
Jun 16	-153.1	-73.5	-37.3
Jun 23	-185.5	-85.6	-20.7
Jun 30	-150.6	-112.8	-4.4
Jul 07	-97.7	-99.7	35.6
Jul 14	-94.6	-94.6	39.0

Commercial hedger net position (producers, merchants, and swap dealers combined). Commercials are structurally short (forward sellers); a move toward net long is historically bullish.

Sugar No. 11 commercial net position by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	142.0	-39.6	-61.9
Jan 13	154.0	17.3	-54.4
Jan 20	165.8	65.7	-61.0
Jan 27	148.2	54.0	-77.0
Feb 03	210.9	54.5	-85.3
Feb 10	231.1	42.6	-89.1
Feb 17	248.6	16.1	-99.3
Feb 24	244.4	-50.1	-76.6
Mar 03	235.4	-16.5	-93.3
Mar 10	189.1	-6.8	-55.9
Mar 17	178.9	-51.3	-70.1
Mar 24	36.6	-70.1	-76.5
Mar 31	13.4	-67.0	-103.1
Apr 07	35.9	-47.3	-120.1
Apr 14	109.7	-21.7	-91.6
Apr 21	144.6	-20.2	-28.7
Apr 28	123.8	-18.1	-14.5
May 05	52.4	-2.2	-3.8
May 12	53.0	-19.9	-6.3
May 19	38.9	-7.8	14.8
May 26	49.7	1.4	31.3
Jun 02	84.3	26.4	28.9
Jun 09	90.9	43.3	33.5
Jun 16	113.1	57.5	19.3
Jun 23	136.5	62.0	-4.2
Jun 30	81.1	89.2	-36.6
Jul 07	34.1	85.4	-78.3
Jul 14	39.5	72.0	-74.8

Managed money gross long contracts by week of year. Elevated gross longs signal crowded positioning and potential liquidation pressure if sentiment shifts.

Sugar No. 11 managed money gross long by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	105.9	151.2	93.2
Jan 13	104.9	134.4	89.5
Jan 20	104.6	122.9	87.5
Jan 27	113.8	121.0	93.5
Feb 03	113.5	118.2	100.0
Feb 10	122.8	124.2	108.8
Feb 17	127.6	127.7	107.6
Feb 24	133.4	136.8	111.0
Mar 03	139.6	124.0	115.1
Mar 10	141.9	116.0	112.5
Mar 17	131.7	135.5	111.1
Mar 24	149.4	161.4	112.0
Mar 31	136.8	167.6	122.0
Apr 07	129.6	156.3	135.6
Apr 14	117.6	140.7	138.0
Apr 21	118.5	137.3	131.3
Apr 28	132.3	133.2	132.6
May 05	171.3	129.5	130.0
May 12	164.1	134.3	128.8
May 19	173.7	132.5	129.1
May 26	165.9	134.0	125.7
Jun 02	149.1	132.9	127.0
Jun 09	156.5	133.5	116.7
Jun 16	151.4	125.2	114.7
Jun 23	132.6	120.4	109.4
Jun 30	155.1	112.2	109.1
Jul 07	180.5	123.4	114.5
Jul 14	188.7	125.9	108.6

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.

Sugar No. 11 managed money gross short by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	248.8	103.8	75.0
Jan 13	244.3	134.9	73.6
Jan 20	253.4	174.6	72.7
Jan 27	253.0	170.5	64.6
Feb 03	300.9	171.3	56.2
Feb 10	334.6	169.4	53.8
Feb 17	369.3	138.6	47.6
Feb 24	374.5	85.4	54.1
Mar 03	387.9	89.0	44.5
Mar 10	353.0	97.7	67.0
Mar 17	336.4	69.4	59.0
Mar 24	226.2	70.1	56.5
Mar 31	186.4	71.5	53.5
Apr 07	194.9	61.5	46.5
Apr 14	260.0	90.3	59.6
Apr 21	308.0	91.4	96.4
Apr 28	319.7	98.7	121.0
May 05	285.4	118.2	130.0
May 12	264.6	113.9	138.6
May 19	257.7	113.7	148.1
May 26	258.2	128.4	164.1
Jun 02	271.6	151.3	169.2
Jun 09	286.8	172.1	166.4
Jun 16	304.6	198.7	152.0
Jun 23	318.0	206.0	130.1
Jun 30	305.7	225.0	113.5
Jul 07	278.2	223.1	78.9
Jul 14	283.3	220.5	69.6

Total open interest across all participant categories. Rising OI with a directional move confirms the trend; falling OI suggests position liquidation rather than new conviction.

Sugar No. 11 total open interest by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	1,101.8	1,096.4	1,116.9
Jan 13	1,130.9	1,147.1	1,106.5
Jan 20	1,144.9	1,151.6	1,080.5
Jan 27	1,179.5	1,166.4	1,101.4
Feb 03	1,243.6	1,176.4	1,133.1
Feb 10	1,288.0	1,182.4	1,158.2
Feb 17	1,247.4	1,097.5	1,154.6
Feb 24	1,203.5	1,089.2	1,007.2
Mar 03	1,204.6	1,018.3	991.5
Mar 10	1,203.3	1,005.8	1,018.6
Mar 17	1,173.3	1,036.2	997.6
Mar 24	1,155.0	1,030.8	1,006.2
Mar 31	1,133.9	1,027.0	1,010.8
Apr 07	1,120.6	1,002.2	1,016.9
Apr 14	1,146.2	962.6	1,006.6
Apr 21	1,159.0	942.9	958.5
Apr 28	1,153.4	936.3	975.9
May 05	1,191.8	928.1	983.1
May 12	1,184.0	925.9	977.9
May 19	1,187.8	933.5	991.7
May 26	1,182.7	957.1	1,016.8
Jun 02	1,187.1	1,016.7	1,035.9
Jun 09	1,202.6	1,057.2	1,047.6
Jun 16	1,153.5	987.4	1,028.0
Jun 23	1,159.8	976.9	951.5
Jun 30	1,164.4	975.6	944.8
Jul 07	1,187.8	985.5	928.7
Jul 14	1,180.5	993.9	920.2

Nearby futures price (SB=F). Price shown for context; COT positioning is the primary signal.

Cocoa

CFTC Code 073732 · COT data through 2026-07-14

5,610.00 $/mt

MM Net Position

-11,200

Managed money long minus short

18th pct

MM Gross Long

15,135 cts

Managed money gross long contracts

0th pct

MM Gross Short

26,335 cts

Managed money gross short contracts

41th pct

MM Week-over-Week

+2,550

Change in managed money net

Open Interest

272,953 cts

Total open interest (all participants)

62th pct

Commercial Net

+16,937

Prod/merchant + swap dealer net

93th pct

Price WoW Change

-309.00 $/mt

-5.2% · latest 5,610.00 $/mt

Managed money is Heavily Short (18th percentile) relative to the full history of this market. Managed money added 2,550 net contracts week-over-week. Commercial hedgers hold a net long position of 16,937 contracts. Open interest is near historical average levels (62th percentile).

Managed money (hedge funds & CTAs) net long position by week of year, overlapping across all available years. Extreme readings — especially multi-year highs or lows — historically coincide with price turning points.

Cocoa managed money net position by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	-1.9	37.5	62.9
Jan 13	-8.9	37.2	59.1
Jan 20	-13.6	38.0	63.7
Jan 27	-12.7	36.2	70.7
Feb 03	-13.5	33.2	64.1
Feb 10	-15.1	27.3	58.8
Feb 17	-13.8	27.5	46.5
Feb 24	-10.0	16.9	42.8
Mar 03	-7.9	14.8	32.3
Mar 10	-15.2	13.9	32.0
Mar 17	-11.2	12.4	33.7
Mar 24	-12.7	12.7	26.8
Mar 31	-14.5	15.8	21.9
Apr 07	-16.4	15.8	19.7
Apr 14	-18.1	11.6	19.7
Apr 21	-16.4	13.0	16.1
Apr 28	-19.9	14.5	13.9
May 05	-16.8	14.1	13.7
May 12	-14.0	18.5	14.4
May 19	-16.2	22.4	15.0
May 26	-18.1	20.0	16.0
Jun 02	-21.1	17.1	19.5
Jun 09	-27.3	17.2	21.1
Jun 16	-25.0	17.7	26.4
Jun 23	-23.0	14.2	25.7
Jun 30	-16.7	14.6	21.9
Jul 07	-13.8	13.0	21.1
Jul 14	-11.2	11.9	22.4

Commercial hedger net position (producers, merchants, and swap dealers combined). Commercials are structurally short (forward sellers); a move toward net long is historically bullish.

Cocoa commercial net position by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	-1.7	-40.0	-60.9
Jan 13	13.5	-40.2	-55.8
Jan 20	20.2	-41.4	-65.4
Jan 27	17.5	-38.9	-72.1
Feb 03	15.7	-35.7	-68.1
Feb 10	16.8	-28.1	-62.3
Feb 17	15.4	-29.4	-48.0
Feb 24	10.8	-18.6	-43.3
Mar 03	15.8	-16.3	-39.6
Mar 10	20.3	-15.2	-37.8
Mar 17	19.8	-13.2	-40.9
Mar 24	21.6	-14.9	-33.9
Mar 31	21.3	-15.8	-32.6
Apr 07	24.9	-18.7	-30.4
Apr 14	25.4	-14.5	-28.9
Apr 21	22.1	-16.1	-28.3
Apr 28	26.4	-18.8	-25.9
May 05	23.1	-18.7	-20.7
May 12	17.1	-24.1	-20.7
May 19	20.0	-25.1	-20.2
May 26	21.0	-23.1	-21.7
Jun 02	22.9	-22.5	-24.9
Jun 09	30.1	-22.6	-26.9
Jun 16	27.0	-22.1	-30.6
Jun 23	26.2	-16.5	-29.4
Jun 30	20.5	-17.3	-25.2
Jul 07	18.6	-16.3	-24.9
Jul 14	16.9	-16.2	-27.0

Managed money gross long contracts by week of year. Elevated gross longs signal crowded positioning and potential liquidation pressure if sentiment shifts.

Cocoa managed money gross long by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	25.9	44.1	96.2
Jan 13	19.5	43.2	92.8
Jan 20	18.6	43.8	98.9
Jan 27	18.8	41.9	106.9
Feb 03	19.9	38.7	98.6
Feb 10	19.1	32.5	92.2
Feb 17	20.3	32.6	73.8
Feb 24	24.9	22.0	69.8
Mar 03	28.3	19.4	56.9
Mar 10	24.4	18.0	55.9
Mar 17	25.2	17.9	56.8
Mar 24	25.9	17.5	49.1
Mar 31	25.9	20.1	42.9
Apr 07	26.2	19.2	38.1
Apr 14	26.2	15.1	37.1
Apr 21	27.0	17.3	33.7
Apr 28	26.0	19.0	30.4
May 05	25.3	18.8	29.0
May 12	21.9	23.4	26.7
May 19	18.9	28.9	27.1
May 26	18.4	26.3	27.1
Jun 02	18.1	23.6	29.4
Jun 09	16.6	24.7	30.1
Jun 16	18.4	25.2	34.0
Jun 23	16.8	22.0	35.0
Jun 30	15.9	22.3	31.6
Jul 07	15.8	20.5	30.6
Jul 14	15.1	19.2	32.7

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.

Cocoa managed money gross short by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	27.9	6.5	33.2
Jan 13	28.4	6.0	33.6
Jan 20	32.2	5.8	35.2
Jan 27	31.5	5.6	36.2
Feb 03	33.4	5.4	34.5
Feb 10	34.2	5.2	33.4
Feb 17	34.1	5.1	27.3
Feb 24	34.9	5.1	27.0
Mar 03	36.2	4.7	24.6
Mar 10	39.5	4.1	23.9
Mar 17	36.4	5.5	23.1
Mar 24	38.6	4.7	22.3
Mar 31	40.4	4.3	21.0
Apr 07	42.5	3.4	18.4
Apr 14	44.3	3.5	17.4
Apr 21	43.4	4.3	17.5
Apr 28	45.9	4.5	16.4
May 05	42.1	4.7	15.3
May 12	35.9	4.9	12.4
May 19	35.0	6.5	12.1
May 26	36.5	6.2	11.2
Jun 02	39.2	6.6	9.9
Jun 09	43.9	7.4	9.0
Jun 16	43.4	7.5	7.6
Jun 23	39.8	7.8	9.4
Jun 30	32.6	7.7	9.7
Jul 07	29.6	7.6	9.4
Jul 14	26.3	7.4	10.3

Total open interest across all participant categories. Rising OI with a directional move confirms the trend; falling OI suggests position liquidation rather than new conviction.

Cocoa total open interest by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	162.8	178.6	455.3
Jan 13	176.9	174.6	455.1
Jan 20	199.1	175.2	476.4
Jan 27	214.4	173.6	492.5
Feb 03	229.5	176.0	494.2
Feb 10	239.6	150.8	455.7
Feb 17	215.3	146.7	424.7
Feb 24	241.9	141.3	407.3
Mar 03	255.4	134.0	396.2
Mar 10	254.3	136.4	369.8
Mar 17	246.2	137.1	374.4
Mar 24	251.5	136.0	382.9
Mar 31	259.3	142.3	383.9
Apr 07	263.8	122.3	335.2
Apr 14	234.4	116.3	296.8
Apr 21	234.0	115.4	286.0
Apr 28	237.7	117.6	288.0
May 05	253.2	117.7	268.3
May 12	251.4	126.3	261.7
May 19	246.8	138.8	253.3
May 26	258.2	133.1	246.4
Jun 02	262.3	131.0	271.2
Jun 09	259.3	130.4	281.4
Jun 16	235.3	107.7	237.5
Jun 23	231.3	108.5	236.8
Jun 30	243.1	111.2	220.7
Jul 07	267.3	115.9	226.8
Jul 14	273.0	119.0	230.0

Nearby futures price (CC=F). Price shown for context; COT positioning is the primary signal.

Frozen OJ

CFTC Code 040701 · COT data through 2026-07-14

139.35 ¢/lb

MM Net Position

-507

Managed money long minus short

28th pct

MM Gross Long

2,356 cts

Managed money gross long contracts

42th pct

MM Gross Short

2,863 cts

Managed money gross short contracts

78th pct

MM Week-over-Week

-648

Change in managed money net

Open Interest

10,422 cts

Total open interest (all participants)

4th pct

Commercial Net

-299

Prod/merchant + swap dealer net

78th pct

Price WoW Change

-8.50 ¢/lb

-5.7% · latest 139.35 ¢/lb

Managed money is Moderately Short (28th percentile) relative to the full history of this market. Managed money reduced 648 net contracts week-over-week. Commercial hedgers hold a net short position of 299 contracts. Open interest is at a depressed level historically (4th percentile).

Managed money (hedge funds & CTAs) net long position by week of year, overlapping across all available years. Extreme readings — especially multi-year highs or lows — historically coincide with price turning points.

Frozen OJ managed money net position by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	-2.8	5.9	0.9
Jan 13	-1.7	5.8	0.5
Jan 20	-1.5	5.5	0.1
Jan 27	-0.8	5.5	-0.0
Feb 03	-0.0	5.3	0.1
Feb 10	-0.4	4.1	1.1
Feb 17	-0.5	3.2	1.2
Feb 24	-0.2	2.6	1.5
Mar 03	0.1	2.2	1.8
Mar 10	0.3	2.0	1.5
Mar 17	0.9	1.5	1.4
Mar 24	0.6	1.4	1.2
Mar 31	0.7	1.3	1.3
Apr 07	1.2	1.1	1.5
Apr 14	1.7	1.1	1.4
Apr 21	1.2	1.0	1.4
Apr 28	0.6	0.8	1.6
May 05	0.6	0.7	1.5
May 12	1.1	0.3	1.5
May 19	0.5	0.4	2.6
May 26	0.3	0.5	3.2
Jun 02	0.1	0.6	3.6
Jun 09	0.4	1.0	3.6
Jun 16	0.2	0.6	3.2
Jun 23	0.1	0.0	2.5
Jun 30	-0.1	-0.3	2.4
Jul 07	0.1	-0.2	2.3
Jul 14	-0.5	0.9	2.4

Commercial hedger net position (producers, merchants, and swap dealers combined). Commercials are structurally short (forward sellers); a move toward net long is historically bullish.

Frozen OJ commercial net position by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	0.8	-8.4	-0.7
Jan 13	-0.4	-7.8	-0.4
Jan 20	-0.3	-7.7	-0.2
Jan 27	-1.5	-7.6	-0.1
Feb 03	-2.2	-6.6	-1.1
Feb 10	-1.7	-5.5	-2.6
Feb 17	-1.1	-4.6	-1.9
Feb 24	-1.5	-4.1	-2.5
Mar 03	-1.5	-4.1	-2.3
Mar 10	-1.9	-3.6	-2.3
Mar 17	-2.6	-3.4	-1.9
Mar 24	-2.0	-3.3	-1.8
Mar 31	-2.0	-3.4	-2.3
Apr 07	-2.6	-3.1	-2.5
Apr 14	-3.5	-3.1	-2.2
Apr 21	-2.6	-2.9	-2.7
Apr 28	-1.8	-2.4	-2.8
May 05	-1.9	-2.3	-3.2
May 12	-2.7	-2.0	-3.4
May 19	-1.3	-2.3	-5.7
May 26	-1.2	-2.4	-6.3
Jun 02	-0.8	-2.5	-6.8
Jun 09	-1.0	-2.8	-6.4
Jun 16	-0.9	-2.7	-5.5
Jun 23	-0.7	-1.9	-4.9
Jun 30	-0.6	-2.0	-5.2
Jul 07	-1.1	-2.2	-5.1
Jul 14	-0.3	-2.2	-5.3

Managed money gross long contracts by week of year. Elevated gross longs signal crowded positioning and potential liquidation pressure if sentiment shifts.

Frozen OJ managed money gross long by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	1.7	5.9	2.0
Jan 13	1.5	5.9	1.8
Jan 20	1.7	5.5	1.5
Jan 27	1.8	5.5	1.5
Feb 03	1.7	5.3	1.4
Feb 10	1.8	4.3	2.0
Feb 17	1.7	3.6	2.1
Feb 24	1.9	3.6	2.2
Mar 03	2.1	3.2	2.7
Mar 10	2.3	3.1	2.5
Mar 17	2.7	2.8	2.6
Mar 24	2.5	2.7	2.6
Mar 31	2.5	2.6	2.8
Apr 07	2.5	2.6	3.0
Apr 14	2.6	2.2	2.9
Apr 21	2.4	1.9	2.8
Apr 28	2.3	1.9	2.8
May 05	2.2	1.9	2.6
May 12	2.8	2.0	2.6
May 19	2.5	2.0	3.2
May 26	2.4	2.0	3.6
Jun 02	2.3	2.0	4.0
Jun 09	2.4	1.9	4.0
Jun 16	2.1	1.8	3.4
Jun 23	2.4	1.7	2.8
Jun 30	2.7	1.7	2.7
Jul 07	2.8	2.0	2.7
Jul 14	2.4	2.1	2.9

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.

Frozen OJ managed money gross short by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	4.4	0.1	1.2
Jan 13	3.2	0.1	1.2
Jan 20	3.2	0.0	1.4
Jan 27	2.6	0.1	1.5
Feb 03	1.7	0.1	1.3
Feb 10	2.2	0.2	0.9
Feb 17	2.2	0.4	0.9
Feb 24	2.1	0.9	0.7
Mar 03	2.0	1.0	0.9
Mar 10	2.0	1.1	1.0
Mar 17	1.8	1.3	1.2
Mar 24	1.9	1.3	1.4
Mar 31	1.8	1.3	1.4
Apr 07	1.3	1.5	1.4
Apr 14	1.0	1.1	1.5
Apr 21	1.2	0.9	1.5
Apr 28	1.7	1.1	1.2
May 05	1.6	1.2	1.1
May 12	1.6	1.6	1.1
May 19	2.0	1.6	0.6
May 26	2.0	1.4	0.4
Jun 02	2.1	1.3	0.4
Jun 09	2.0	1.0	0.4
Jun 16	1.9	1.2	0.3
Jun 23	2.3	1.7	0.3
Jun 30	2.8	2.0	0.3
Jul 07	2.7	2.1	0.5
Jul 14	2.9	1.2	0.5

Total open interest across all participant categories. Rising OI with a directional move confirms the trend; falling OI suggests position liquidation rather than new conviction.

Frozen OJ total open interest by week

Date	2026 ('000 cts)	2025 ('000 cts)	2024 ('000 cts)
Jan 06	11.0	14.3	11.8
Jan 13	10.6	14.4	12.9
Jan 20	10.4	14.3	13.1
Jan 27	10.2	14.3	12.5
Feb 03	10.1	14.7	11.9
Feb 10	10.8	16.7	12.1
Feb 17	10.0	17.1	12.7
Feb 24	8.8	16.2	12.4
Mar 03	9.0	16.2	12.3
Mar 10	9.0	16.4	11.6
Mar 17	9.0	16.6	11.4
Mar 24	9.5	16.0	11.4
Mar 31	9.1	16.1	11.4
Apr 07	9.0	16.6	11.4
Apr 14	8.9	15.5	11.4
Apr 21	8.1	12.5	11.9
Apr 28	8.6	12.5	10.1
May 05	8.3	12.5	10.2
May 12	8.8	12.8	10.9
May 19	9.1	12.3	13.5
May 26	8.7	12.2	14.5
Jun 02	9.1	12.1	16.0
Jun 09	9.0	12.5	15.7
Jun 16	8.9	13.0	15.2
Jun 23	8.7	11.4	15.0
Jun 30	9.4	11.5	12.4
Jul 07	9.5	11.1	12.8
Jul 14	10.4	10.7	12.8

Nearby futures price (OJ=F). Price shown for context; COT positioning is the primary signal.