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.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 01 | 22.6 | 246.4 | 89.3 |
| Jan 08 | 42.5 | 230.7 | 111.1 |
| Jan 15 | 53.4 | 250.9 | 90.2 |
| Jan 22 | 63.0 | 191.8 | 134.1 |
| Jan 29 | 80.4 | 140.5 | 150.2 |
| Feb 05 | 86.3 | 122.2 | 95.0 |
| Feb 12 | 81.2 | 103.3 | 115.7 |
| Feb 19 | 98.2 | 67.6 | 134.2 |
| Feb 26 | 108.4 | 103.9 | 174.7 |
| Mar 05 | 136.4 | 115.8 | 184.0 |
| Mar 12 | 147.9 | 96.5 | 169.9 |
| Mar 19 | 149.0 | 91.8 | 220.0 |
| Mar 26 | 130.7 | 94.6 | 217.4 |
| Apr 02 | 137.8 | 69.5 | 229.5 |
Commercial hedger net position (producers, merchants, and swap dealers combined). 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 01 | -124.0 | -303.4 | -217.3 |
| Jan 08 | -132.0 | -332.5 | -216.7 |
| Jan 15 | -165.6 | -339.5 | -211.0 |
| Jan 22 | -182.9 | -307.7 | -228.3 |
| Jan 29 | -218.1 | -274.0 | -244.8 |
| Feb 05 | -223.4 | -257.5 | -217.6 |
| Feb 12 | -244.9 | -239.1 | -217.3 |
| Feb 19 | -289.5 | -223.6 | -238.3 |
| Feb 26 | -301.9 | -209.8 | -264.0 |
| Mar 05 | -356.2 | -212.6 | -288.6 |
| Mar 12 | -360.9 | -205.3 | -280.2 |
| Mar 19 | -363.9 | -208.9 | -323.7 |
| Mar 26 | -350.3 | -195.6 | -330.0 |
| Apr 02 | -334.9 | -184.6 | -346.2 |
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.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 01 | 2,382.1 | 2,368.1 | 2,037.2 |
| Jan 08 | 2,533.7 | 2,384.5 | 2,059.1 |
| Jan 15 | 2,438.3 | 2,297.4 | 2,084.2 |
| Jan 22 | 2,585.1 | 2,226.9 | 2,095.7 |
| Jan 29 | 2,688.7 | 2,220.9 | 2,253.2 |
| Feb 05 | 2,680.2 | 2,252.0 | 2,271.2 |
| Feb 12 | 2,577.1 | 2,124.7 | 2,222.6 |
| Feb 19 | 2,724.6 | 2,177.7 | 2,098.4 |
| Feb 26 | 2,889.1 | 2,266.1 | 2,118.6 |
| Mar 05 | 3,138.8 | 2,313.0 | 2,098.8 |
| Mar 12 | 3,011.8 | 2,211.9 | 2,177.3 |
| Mar 19 | 2,952.2 | 2,225.0 | 2,218.8 |
| Mar 26 | 3,039.6 | 2,312.3 | 2,276.0 |
| Apr 02 | 3,128.6 | 2,689.6 | 2,339.5 |
Nearby futures price (CL=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. Extreme readings — especially multi-year highs or lows — historically coincide with price turning points.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 01 | 49.5 | 53.4 | 69.3 |
| Jan 08 | 58.5 | 57.2 | 62.1 |
| Jan 15 | 62.1 | 50.6 | 59.2 |
| Jan 22 | 65.4 | 40.4 | 66.9 |
| Jan 29 | 67.9 | 46.8 | 68.4 |
| Feb 05 | 80.1 | 48.7 | 57.0 |
| Feb 12 | 78.0 | 45.9 | 62.1 |
| Feb 19 | 89.1 | 27.9 | 61.4 |
| Feb 26 | 85.8 | 20.4 | 61.0 |
| Mar 05 | 77.0 | 6.0 | 60.0 |
| Mar 12 | 79.9 | 29.2 | 66.8 |
| Mar 19 | 72.3 | 34.3 | 76.5 |
| Mar 26 | 64.3 | 44.6 | 79.0 |
| Apr 02 | 60.1 | 27.4 | 83.6 |
Commercial hedger net position (producers, merchants, and swap dealers combined). 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 01 | -74.8 | -68.3 | -83.4 |
| Jan 08 | -79.7 | -73.1 | -77.0 |
| Jan 15 | -79.9 | -65.3 | -74.1 |
| Jan 22 | -87.4 | -58.2 | -81.4 |
| Jan 29 | -89.4 | -61.2 | -82.5 |
| Feb 05 | -104.4 | -67.9 | -71.6 |
| Feb 12 | -102.6 | -65.0 | -76.0 |
| Feb 19 | -111.7 | -45.0 | -72.8 |
| Feb 26 | -105.7 | -36.1 | -70.0 |
| Mar 05 | -90.1 | -15.6 | -67.1 |
| Mar 12 | -95.9 | -38.3 | -71.7 |
| Mar 19 | -84.5 | -43.5 | -82.0 |
| Mar 26 | -82.3 | -58.5 | -88.2 |
| Apr 02 | -75.2 | -37.8 | -96.5 |
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.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 01 | 422.0 | 379.9 | 333.9 |
| Jan 08 | 452.9 | 404.5 | 344.0 |
| Jan 15 | 458.7 | 433.1 | 356.5 |
| Jan 22 | 465.9 | 427.1 | 368.7 |
| Jan 29 | 470.8 | 414.4 | 366.1 |
| Feb 05 | 465.1 | 418.7 | 377.0 |
| Feb 12 | 466.5 | 428.5 | 388.7 |
| Feb 19 | 468.5 | 425.9 | 391.1 |
| Feb 26 | 415.3 | 420.6 | 378.0 |
| Mar 05 | 393.2 | 446.6 | 369.4 |
| Mar 12 | 383.1 | 443.2 | 379.5 |
| Mar 19 | 357.5 | 446.8 | 384.0 |
| Mar 26 | 331.4 | 424.4 | 386.5 |
| Apr 02 | 323.5 | 425.3 | 407.0 |
Nearby futures price (RB=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. Extreme readings — especially multi-year highs or lows — historically coincide with price turning points.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 01 | 124.3 | 194.5 | 137.5 |
| Jan 08 | 136.5 | 212.5 | 106.3 |
| Jan 15 | 139.2 | 234.4 | 100.6 |
| Jan 22 | 121.4 | 230.6 | 76.6 |
| Jan 29 | 93.4 | 230.2 | 72.0 |
| Feb 05 | 93.0 | 215.6 | 82.6 |
| Feb 12 | 96.1 | 202.0 | 46.4 |
| Feb 19 | 99.9 | 194.4 | 64.3 |
| Feb 26 | 100.9 | 182.6 | 68.0 |
| Mar 05 | 102.2 | 182.2 | 131.1 |
| Mar 12 | 105.9 | 200.2 | 159.6 |
| Mar 19 | 92.8 | 192.7 | 157.5 |
| Mar 26 | 93.9 | 176.6 | 157.7 |
| Apr 02 | 92.1 | 138.5 | 178.2 |
Commercial hedger net position (producers, merchants, and swap dealers combined). 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 01 | -260.4 | -278.5 | -246.2 |
| Jan 08 | -279.2 | -302.1 | -221.1 |
| Jan 15 | -270.9 | -329.2 | -211.0 |
| Jan 22 | -250.8 | -330.8 | -195.7 |
| Jan 29 | -206.0 | -335.3 | -174.4 |
| Feb 05 | -194.8 | -318.1 | -183.2 |
| Feb 12 | -193.3 | -301.4 | -152.4 |
| Feb 19 | -206.1 | -295.2 | -161.1 |
| Feb 26 | -203.8 | -277.4 | -160.4 |
| Mar 05 | -207.4 | -271.9 | -221.6 |
| Mar 12 | -203.7 | -294.4 | -237.0 |
| Mar 19 | -199.4 | -286.8 | -232.7 |
| Mar 26 | -200.1 | -276.8 | -236.6 |
| Apr 02 | -192.5 | -235.4 | -253.0 |
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.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 01 | 772.3 | 690.5 | 700.9 |
| Jan 08 | 844.0 | 757.0 | 665.3 |
| Jan 15 | 871.6 | 845.1 | 668.5 |
| Jan 22 | 793.8 | 805.3 | 642.6 |
| Jan 29 | 732.3 | 837.2 | 580.4 |
| Feb 05 | 726.2 | 867.5 | 575.7 |
| Feb 12 | 723.9 | 871.1 | 576.2 |
| Feb 19 | 699.8 | 773.0 | 567.3 |
| Feb 26 | 699.9 | 756.3 | 551.9 |
| Mar 05 | 709.9 | 779.3 | 706.1 |
| Mar 12 | 681.4 | 870.0 | 776.1 |
| Mar 19 | 692.2 | 826.6 | 789.1 |
| Mar 26 | 559.0 | 851.4 | 723.4 |
| Apr 02 | 550.5 | 775.7 | 797.9 |
Nearby futures price (GC=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. Extreme readings — especially multi-year highs or lows — historically coincide with price turning points.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 01 | 17.7 | 25.6 | 16.0 |
| Jan 08 | 15.0 | 28.8 | 7.9 |
| Jan 15 | 11.3 | 29.5 | 6.0 |
| Jan 22 | 7.3 | 26.3 | -3.2 |
| Jan 29 | 4.5 | 37.4 | 5.0 |
| Feb 05 | 4.6 | 35.1 | -4.8 |
| Feb 12 | 6.2 | 39.4 | -9.6 |
| Feb 19 | 8.0 | 33.0 | 5.4 |
| Feb 26 | 7.3 | 34.2 | -4.1 |
| Mar 05 | 9.7 | 42.2 | 15.5 |
| Mar 12 | 9.3 | 49.6 | 26.7 |
| Mar 19 | 10.9 | 45.8 | 37.8 |
| Mar 26 | 10.8 | 41.4 | 30.2 |
| Apr 02 | 10.0 | 21.9 | 34.1 |
Commercial hedger net position (producers, merchants, and swap dealers combined). 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 01 | -50.6 | -52.7 | -48.8 |
| Jan 08 | -54.0 | -55.9 | -41.3 |
| Jan 15 | -45.5 | -59.6 | -40.7 |
| Jan 22 | -44.0 | -57.9 | -30.2 |
| Jan 29 | -44.6 | -66.9 | -35.2 |
| Feb 05 | -40.8 | -66.5 | -30.0 |
| Feb 12 | -41.3 | -70.3 | -25.7 |
| Feb 19 | -39.4 | -68.3 | -35.5 |
| Feb 26 | -39.1 | -68.5 | -30.2 |
| Mar 05 | -40.9 | -75.4 | -44.4 |
| Mar 12 | -37.3 | -79.5 | -54.4 |
| Mar 19 | -38.4 | -78.6 | -64.1 |
| Mar 26 | -38.2 | -74.6 | -62.7 |
| Apr 02 | -38.2 | -61.6 | -66.9 |
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.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 01 | 235.1 | 179.0 | 153.9 |
| Jan 08 | 237.3 | 179.6 | 151.9 |
| Jan 15 | 244.0 | 192.0 | 154.1 |
| Jan 22 | 228.4 | 192.4 | 162.5 |
| Jan 29 | 210.1 | 207.1 | 158.8 |
| Feb 05 | 201.0 | 196.9 | 169.9 |
| Feb 12 | 198.7 | 207.4 | 176.8 |
| Feb 19 | 168.9 | 187.3 | 172.8 |
| Feb 26 | 156.4 | 170.7 | 162.5 |
| Mar 05 | 158.7 | 182.3 | 166.3 |
| Mar 12 | 154.9 | 203.4 | 175.8 |
| Mar 19 | 156.0 | 197.3 | 192.5 |
| Mar 26 | 145.2 | 197.1 | 191.5 |
| Apr 02 | 144.3 | 184.8 | 211.0 |
Nearby futures price (SI=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. Extreme readings — especially multi-year highs or lows — historically coincide with price turning points.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 01 | 66.9 | 6.1 | 10.1 |
| Jan 08 | 62.2 | 13.9 | -16.8 |
| Jan 15 | 61.7 | 17.9 | -25.3 |
| Jan 22 | 56.7 | 15.5 | -30.8 |
| Jan 29 | 54.3 | 17.2 | -3.3 |
| Feb 05 | 54.3 | 21.7 | -20.6 |
| Feb 12 | 52.7 | 26.6 | -42.3 |
| Feb 19 | 51.0 | 18.2 | -8.8 |
| Feb 26 | 48.5 | 8.7 | 4.4 |
| Mar 05 | 47.7 | 13.7 | -8.6 |
| Mar 12 | 46.7 | 22.4 | 8.5 |
| Mar 19 | 35.8 | 33.6 | 39.3 |
| Mar 26 | 39.3 | 31.3 | 20.3 |
| Apr 02 | 38.8 | 14.1 | 15.4 |
Commercial hedger net position (producers, merchants, and swap dealers combined). Commercials are structurally short (forward sellers); a move toward net long is historically bullish.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 01 | -70.6 | -6.3 | -11.8 |
| Jan 08 | -67.1 | -13.3 | 8.4 |
| Jan 15 | -69.1 | -19.9 | 22.5 |
| Jan 22 | -65.4 | -17.5 | 27.4 |
| Jan 29 | -62.7 | -16.8 | 7.3 |
| Feb 05 | -61.0 | -22.2 | 10.7 |
| Feb 12 | -74.9 | -22.4 | 30.7 |
| Feb 19 | -72.6 | -19.1 | 17.9 |
| Feb 26 | -69.7 | -12.8 | 2.5 |
| Mar 05 | -63.3 | -18.0 | 4.4 |
| Mar 12 | -60.9 | -21.8 | -6.8 |
| Mar 19 | -47.1 | -27.1 | -42.6 |
| Mar 26 | -51.0 | -25.8 | -32.0 |
| Apr 02 | -53.0 | -15.6 | -30.3 |
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.
| Date | 2026 ('000 cts) | 2025 ('000 cts) | 2024 ('000 cts) |
|---|---|---|---|
| Jan 01 | 307.6 | 249.4 | 208.0 |
| Jan 08 | 310.5 | 247.2 | 225.4 |
| Jan 15 | 314.8 | 254.7 | 240.5 |
| Jan 22 | 305.3 | 263.4 | 256.3 |
| Jan 29 | 315.6 | 266.5 | 255.0 |
| Feb 05 | 304.4 | 290.7 | 268.9 |
| Feb 12 | 303.1 | 286.2 | 283.7 |
| Feb 19 | 280.4 | 243.8 | 258.4 |
| Feb 26 | 264.0 | 243.5 | 208.3 |
| Mar 05 | 254.1 | 259.0 | 217.2 |
| Mar 12 | 248.2 | 278.6 | 250.0 |
| Mar 19 | 244.6 | 302.5 | 326.0 |
| Mar 26 | 239.8 | 288.9 | 326.9 |
| Apr 02 | 243.8 | 284.1 | 348.6 |
Nearby futures price (HG=F). Price shown for context; COT positioning is the primary signal.