Agriculture COT Report: grains, softs, meats and dairy
23 agricultural markets · CFTC Legacy, Futures Only · report of Nov 3, 2026Released · positions as of
In the agriculture COT report of Nov 3, 2026, large speculators (Non-Commercial) were net long in 10 of the 23 agricultural markets in that report (Rough Rice, Soybean Meal, Cotton, Soybeans and 6 more) and net short in 13 (Lumber, Nonfat Dry Milk, Butter, Cheese and 9 more). Relative to open interest, their largest net position was in Lumber (net short 5,625 contracts, 59.1% of open interest) and their largest weekly move in Soybean Meal, where the net shrank by 45,769 contracts.
Agriculture COT data by market
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| Non-Commercial (Large Speculators) | Commercial (Hedgers)Hedging, not price speculation. Hedgers (producers, processors, merchants and, in the Legacy report, swap dealers) use futures to offset the price risk of their business or of their clients’ trades. Their net short or net long is mostly that offsetting, not a view on where the price is going. | ||||||
|---|---|---|---|---|---|---|---|
| Market | Net Positions | Weekly Change | % of OI | Net Positions | Open Interest | Table | Chart |
| Corn COT Report | NET LONG+137,595 | -63,677 | +7.2% | NET SHORT-137,516 | 1,918,622+59,537 | Table | Chart |
| Soybeans COT Report | NET LONG+163,618 | -40,501 | +17.1% | NET SHORT-143,478 | 959,576-19,838 | Table | Chart |
| Soybean Oil COT Report | NET LONG+52,538 | -9,767 | +8.7% | NET SHORT-58,545 | 602,052+28,316 | Table | Chart |
| Soybean Meal COT Report | NET LONG+133,036 | -45,769 | +23.1% | NET SHORT-151,853 | 577,046-32,914 | Table | Chart |
| Chicago Wheat COT Report | NET SHORT-62,538 | -11,776 | -11.7% | NET LONG+64,325 | 534,858+9,300 | Table | Chart |
| Canola COT Report | NET LONG+1,371 | -13,828 | +0.5% | NET SHORT-824 | 271,687-2,132 | Table | Chart |
| KC HRW Wheat COT Report | NET SHORT-8,176 | -3,315 | -2.5% | NET LONG+15,084 | 328,057+3,006 | Table | Chart |
| Spring Wheat COT Report | NET SHORT-8,938 | -5,774 | -11.1% | NET LONG+7,757 | 80,630+2,159 | Table | Chart |
| Rough Rice COT Report | NET LONG+4,337 | +504 | +30.3% | NET SHORT-5,800 | 14,335-681 | Table | Chart |
| Palm Oil COT Report | NET SHORT-22 | +1,942 | -0.1% | NET LONG+2 | 37,586-4,548 | Table | Chart |
| Sugar No. 11 COT Report | NET LONG+185,473 | -16,123 | +15.6% | NET SHORT-229,348 | 1,191,088-14,043 | Table | Chart |
| Cotton COT Report | NET LONG+76,198 | -6,280 | +19.6% | NET SHORT-77,366 | 388,040-9,948 | Table | Chart |
| Cocoa COT Report | NET SHORT-9,267 | -1,425 | -5.2% | NET LONG+8,124 | 179,866-2,403 | Table | Chart |
| Coffee COT Report | NET LONG+11,956 | -4,593 | +7.2% | NET SHORT-13,915 | 166,984-4,705 | Table | Chart |
| Lumber COT Report | NET SHORT-5,625 | +239 | -59.1% | NET LONG+5,259 | 9,517-305 | Table | Chart |
| Orange Juice COT Report | NET SHORT-697 | -414 | -7.0% | NET LONG+418 | 9,911+709 | Table | Chart |
| Live Cattle COT Report | NET LONG+30,841 | -4,044 | +10.7% | NET SHORT-23,839 | 287,478-1,279 | Table | Chart |
| Lean Hogs COT Report | NET SHORT-81,035 | +1,326 | -25.0% | NET LONG+80,474 | 324,455+17,159 | Table | Chart |
| Feeder Cattle COT Report | NET SHORT-933 | -2,600 | -1.5% | NET LONG+4,070 | 61,138-3,861 | Table | Chart |
| Class III Milk COT Report | NET SHORT-12,755 | -1,053 | -34.9% | NET LONG+14,773 | 36,529+799 | Table | Chart |
| Cheese COT Report | NET SHORT-12,403 | +209 | -36.1% | NET LONG+11,923 | 34,337+441 | Table | Chart |
| Butter COT Report | NET SHORT-9,089 | -252 | -42.7% | NET LONG+8,590 | 21,304+701 | Table | Chart |
| Nonfat Dry Milk COT Report | NET SHORT-6,283 | -160 | -45.4% | NET LONG+5,477 | 13,837+1,170 | Table | Chart |
Source: the CFTC’s Legacy Commitments of Traders report, Futures Only. Large speculators = Non-Commercial, hedgers = Commercial. Each market is read from its own latest report, and contracts are never added up across markets, because every contract has its own size. The Disaggregated report splits the same traders into four groups, so the Non-Commercial net here and the net of the money managers can differ, even by side.
These are the 23 agricultural markets. The full list of 350+ markets:COT Report Simplified
Agriculture COT report of Nov 3, 2026: what changed
Largest weekly moves
Large speculators’ net change relative to open interest
- Soybean Meal-45,7697.9% of OI
- Spring Wheat-5,7747.2% of OI
- Palm Oil+1,9425.2% of OI
This week, large speculators moved to a net short position in Feeder Cattle. The largest weekly move relative to open interest was in Soybean Meal: the large speculators’ net long position shrank by 45,769 contracts (7.9% of open interest). Butter: large speculators held their largest net short position of the last 520 weekly reports. Nonfat Dry Milk: large speculators held their largest net short position of the last 520 weekly reports. Rough Rice: large speculators held their largest net long position since Mar 12, 2024. Commercials (hedgers) were net short in 10 of the 23 markets. Hedgers (producers, processors, merchants and, in the Legacy report, swap dealers) use futures to offset the price risk of their business or of their clients’ trades. Their net short or net long is mostly that offsetting, not a view on where the price is going.
More COT Report Formats
What the Agriculture COT report covers
Agriculture is the widest group on the site, and the COT report itself started out with farm markets. Grains and oilseeds come first: corn, soybeans with soybean oil and soybean meal, three wheat contracts (Chicago soft red winter, Kansas City hard red winter and Minneapolis spring wheat), rough rice, canola and palm oil. Then the softs: sugar No. 11, cotton, cocoa, arabica coffee, frozen orange juice and lumber. The meats are live cattle, feeder cattle and lean hogs, and the dairy contracts cover Class III milk, cheese, butter and nonfat dry milk.
Here the Commercials are the people of the food chain: farmers and cooperatives pricing a crop before harvest, grain elevators and merchants, soybean crushers, flour millers, ethanol plants, meatpackers and feedlots, cocoa grinders and coffee roasters. Their hedges follow the calendar of planting, harvest and stocks. The Non-Commercial group, the large speculators, is made up of hedge funds, commodity trading advisers and other large traders with no farm or food business behind them, and the traders below the CFTC reporting level appear as Non-Reportable.
This page uses the Legacy report, Futures Only: of the CFTC’s formats it reaches furthest back, and it treats every crop and herd the same way. The Disaggregated report splits the same traders into producers and merchants, swap dealers, money managers and other reportables, and for a set of farm markets the CFTC adds a Supplemental report that counts commodity index traders on their own. On this site both are part of Premium.
Go deeper
Disaggregated Futures & Options Combined COT Premium: producers and merchants, swap dealers and money managersHow to Read COT ReportsFree: what every column means, net positions and a quick FAQCOT IndexFree: the net position as a 0-100 oscillator over several lookback windowsCOT Data ChartsFree: positions against price and open interest, with years of historyAgriculture COT report: common questions
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Are large speculators long or short agricultural futures this week?
In the agriculture COT report of Nov 3, 2026, large speculators (Non-Commercial) were net long in 10 of the 23 agricultural markets in that report (Rough Rice, Soybean Meal, Cotton, Soybeans and 6 more) and net short in 13 (Lumber, Nonfat Dry Milk, Butter, Cheese and 9 more).
Which market holds the largest net long and the largest net short position of large speculators in agricultural futures?
In the COT report of Nov 3, 2026, the largest net long position of the large speculators (Non-Commercial) was in Rough Rice: 4,337 contracts, 30.3% of open interest. It is their largest net long position since Mar 12, 2024. The largest net short position was in Lumber: 5,625 contracts, 59.1% of open interest. They have been net short there in each of the last 13 weekly reports. The comparison uses each market’s share of its own open interest, because contract sizes differ from one market to another.
Which market had the largest weekly change in agricultural futures this week?
The largest weekly move relative to open interest was in Soybean Meal: the large speculators’ net long position shrank by 45,769 contracts (7.9% of open interest). The weekly change compares the COT report of Nov 3, 2026 with the report of the week before, measured against each market’s own open interest.
In how many agricultural futures markets are the Commercials (hedgers) net short this week?
In the COT report of Nov 3, 2026, Commercials (hedgers) were net short in 10 of the 23 markets. Hedgers (producers, processors, merchants and, in the Legacy report, swap dealers) use futures to offset the price risk of their business or of their clients’ trades. Their net short or net long is mostly that offsetting, not a view on where the price is going.
Which COT report covers agricultural futures?
This page uses the CFTC’s Legacy report (Futures Only), free for every visitor: it splits each market into large speculators (Non-Commercial), hedgers (Commercial) and small traders (Non-Reportable). For agricultural futures the CFTC also publishes the Disaggregated report, which splits the same traders into producers and merchants, swap dealers, money managers and other reportables. On this site the Disaggregated tables are part of Premium.
Who are the Commercials and the Non-Commercials in agricultural futures?
Here the Commercials are the people of the food chain: farmers and cooperatives pricing a crop before harvest, grain elevators and merchants, soybean crushers, flour millers, ethanol plants, meatpackers and feedlots, cocoa grinders and coffee roasters. Their hedges follow the calendar of planting, harvest and stocks. The Non-Commercial group, the large speculators, is made up of hedge funds, commodity trading advisers and other large traders with no farm or food business behind them, and the traders below the CFTC reporting level appear as Non-Reportable.
When does the next COT report for agricultural futures come out?
The CFTC publishes the COT report every Friday at 3:30 PM Eastern Time, with the positions held at the close of the Tuesday of the same week. When a US federal holiday falls on the Wednesday, Thursday or Friday of that week, the release moves to the next business day, usually the Monday after; a Monday holiday does not delay it.
Where can I see the COT history of agricultural futures for free?
Every market on this page links to its COT table (Legacy report, Futures Only), where every visitor sees the last 6 months (26 weekly reports); a free account opens up to 10 years. Each market’s COT chart shows up to 10 years of weekly positions to everyone, no account needed.
Where can I find the agriculture COT report?
Right here: this page is the agriculture COT report of COT-Reports.com, free for every visitor. It covers the 23 agricultural markets the CFTC reports every week (Corn, Soybeans, Soybean Oil, Soybean Meal, Chicago Wheat, Canola, KC HRW Wheat, Spring Wheat, Rough Rice, Palm Oil, Sugar No. 11 and 12 more), with the net positions of the large speculators (Non-Commercial) and the hedgers (Commercial) from the latest Legacy report (Futures Only), refreshed with every weekly CFTC release. In the table, each market’s name opens its own COT report page, such as the Corn COT report.