Week 16, 2026
Cotton leads buying as coffee sees selling
Report date: Tue 21st Apr 26
Released: Fri 24th Apr 26
Legacy Futures Only Report
Good Morning. This is your weekly COT Digest. Speculators leaned into cotton in size this week. Coffee saw the largest selling, but that was the smaller side of the tape.
Top Buyers This Week
Cotton
The book is a crowded long versus the prior 52 weeks. New longs and short covering while net long, +6.96% of the book. This is a second week of new longs and short covering. Spot did not continue the buying from the report date close to the release close; it moved the other way, -1.6%.
Copper
The book is a crowded long versus the prior 52 weeks. New longs and short covering while net long, +3.49% of the book. Spot continued the buying from the report date close to the release close, +0.4%.
Natural Gas
New longs and short covering while still net short, +2.82% of the book. This marks a flip from new shorts last week. Spot did not continue the buying from the report date close to the release close; it moved the other way, -6.5%.
Soybeans
New longs and short covering while net long, +2.66% of the book.
Corn
New longs while net long, +2.22% of the book.
| Commodity | Contracts | Long | Short | Net Long | 52w |
|---|---|---|---|---|---|
|
Cotton
Spot -1.6% from the report date close (Tue 21 Apr) to the release close (Fri 24 Apr) |
0.41%
(189,951)
|
7.28%
|
-6.24%
|
6.96%
|
100th |
|
Copper
Spot +0.4% from the report date close (Tue 21 Apr) to the release close (Fri 24 Apr) |
2%
(121,080)
|
4.45%
|
-0.82%
|
3.49%
|
96th |
|
Natural Gas
Spot -6.5% from the report date close (Tue 21 Apr) to the release close (Fri 24 Apr) |
-0.54%
(652,369)
|
2.41%
|
-3.04%
|
2.82%
|
27th |
|
Soybeans
Spot -0.9% from the report date close (Tue 21 Apr) to the release close (Fri 24 Apr) |
0.1%
(361,256)
|
3.03%
|
-1.34%
|
2.66%
|
87th |
|
Corn
Spot +0.3% from the report date close (Tue 21 Apr) to the release close (Fri 24 Apr) |
-0.12%
(697,288)
|
4.68%
|
3.15%
|
2.22%
|
90th |
|
Gold
Spot -0.5% from the report date close (Tue 21 Apr) to the release close (Fri 24 Apr) |
0.98%
(261,780)
|
1.37%
|
2.96%
|
0.57%
|
40th |
Top Sellers This Week
Coffee
Long liquidation and new shorts while net long, -4.37% of the book. This marks a flip from new longs last week. Spot did not continue the selling from the report date close to the release close; it moved the other way, +7.2%.
Sugar
New shorts while still net short, -4.21% of the book. Spot did not continue the selling from the report date close to the release close; it moved the other way, +3.7%.
Wheat
Long liquidation while still net short, -2.59% of the book. This marks a flip from short covering last week. Spot did not continue the selling from the report date close to the release close; it moved the other way, +0.5%.
Crude Oil WTI
Long liquidation and new shorts while net long, -2.48% of the book.
| Commodity | Contracts | Long | Short | Net Short | 52w |
|---|---|---|---|---|---|
|
Coffee
Spot +7.2% from the report date close (Tue 21 Apr) to the release close (Fri 24 Apr) |
-3.38%
(82,567)
|
-1.62%
|
9.3%
|
-4.37%
|
13th |
|
Sugar
Spot +3.7% from the report date close (Tue 21 Apr) to the release close (Fri 24 Apr) |
3.32%
(541,983)
|
7.17%
|
10.72%
|
-4.21%
|
46th |
|
Wheat
Spot +0.5% from the report date close (Tue 21 Apr) to the release close (Fri 24 Apr) |
-2.9%
(267,585)
|
-6.17%
|
-0.54%
|
-2.59%
|
88th |
|
Crude Oil WTI
Spot +2.5% from the report date close (Tue 21 Apr) to the release close (Fri 24 Apr) |
-5.24%
(567,738)
|
-2.68%
|
2.06%
|
-2.48%
|
63rd |
Other Notable Moves
Gold added new longs while net long, +0.57% of the book. Spot did not continue the buying from the report date close to the release close; it moved the other way, -0.5%.
Quick Read
Cotton saw the largest absolute move with new longs and short covering into a crowded long versus the prior 52 weeks.
Natural gas flipped to buying while still net short.
Coffee flipped to long liquidation and new shorts while net long.
Disclaimer: COT data reflects positioning and sentiment, not trade timing or price predictions.
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