Week 18, 2026
Corn leads buying as grains show divergence
Report date: Tue 5th May 26
Released: Fri 8th May 26
Legacy Futures Only Report
Good Morning. This is your weekly COT Digest. Speculators leaned into corn in size this week. Wheat posted the main selling move, but that was the smaller side of the tape.
Top Buyers This Week
Corn
The book is a crowded long versus the prior 52 weeks. New longs and short covering while net long, +12.91% of the book. This is a second week of the same flow. Spot did not continue the buying from the report date close to the release close; it moved the other way, -2.0%.
Soybeans
This marks a flip from long liquidation last week. The book is a crowded long versus the prior 52 weeks. New longs while net long, +11.79% of the book. Spot did not continue the buying from the report date close to the release close; it moved the other way, -0.1%.
Brent Crude
This marks a flip from new shorts last week. New longs and short covering while net short, +10.73% of the book. Spot did not continue the buying from the report date close to the release close; it moved the other way, -7.8%.
Cotton
New longs and short covering while net long, +10.72% of the book.
Sugar
New longs and short covering while net short, +8.26% of the book.
| Commodity | Contracts | Long | Short | Net Long | 52w |
|---|---|---|---|---|---|
|
Corn
Spot -2.0% from the report date close (Tue 5 May) to the release close (Fri 8 May) |
6.04%
(770,370)
|
13.72%
|
-10.63%
|
12.91%
|
98th |
|
Soybeans
Spot -0.1% from the report date close (Tue 5 May) to the release close (Fri 8 May) |
7.48%
(375,562)
|
17.23%
|
9.81%
|
11.79%
|
98th |
|
Brent Crude
Spot -7.8% from the report date close (Tue 5 May) to the release close (Fri 8 May) |
-14.2%
(152,194)
|
12.89%
|
-9.19%
|
10.73%
|
85th |
|
Cotton
Spot +2.8% from the report date close (Tue 5 May) to the release close (Fri 8 May) |
2.71%
(187,494)
|
8.7%
|
-15.91%
|
10.72%
|
100th |
|
Sugar
Spot -4.4% from the report date close (Tue 5 May) to the release close (Fri 8 May) |
-0.31%
(589,837)
|
11.82%
|
-6.11%
|
8.26%
|
67th |
|
Coffee
Spot -5.3% from the report date close (Tue 5 May) to the release close (Fri 8 May) |
2.81%
(83,781)
|
4.83%
|
-0.11%
|
3.2%
|
29th |
|
Gold
Spot +2.9% from the report date close (Tue 5 May) to the release close (Fri 8 May) |
-0.43%
(260,325)
|
0%
|
-7.15%
|
1.41%
|
40th |
Top Sellers This Week
Wheat
The book is net short, but it still sits as a crowded long versus the prior 52 weeks. This marks a flip from new longs and short covering last week. Long liquidation and new shorts while net short, -6.65% of the book. Spot continued the selling from the report date close to the release close, -1.5%.
Crude Oil WTI
Long liquidation and new shorts while net long, -2.23% of the book. Spot continued the selling from the report date close to the release close, -6.7%.
Silver
New shorts while net long, -0.7% of the book.
| Commodity | Contracts | Long | Short | Net Short | 52w |
|---|---|---|---|---|---|
|
Wheat
Spot -1.5% from the report date close (Tue 5 May) to the release close (Fri 8 May) |
2.42%
(274,328)
|
-2.65%
|
10.67%
|
-6.65%
|
92nd |
|
Crude Oil WTI
Spot -6.7% from the report date close (Tue 5 May) to the release close (Fri 8 May) |
2.52%
(584,298)
|
-2.34%
|
2%
|
-2.23%
|
56th |
|
Silver
Spot +9.9% from the report date close (Tue 5 May) to the release close (Fri 8 May) |
-4.29%
(42,038)
|
5.27%
|
26.82%
|
-0.7%
|
77th |
Other Notable Moves
Coffee added new longs and short covering while spot did not continue the buying from the report date close to the release close; it moved the other way, -5.3%.
Gold saw short covering while spot continued the buying from the report date close to the release close, +2.9%.
Quick Read
Corn posted the largest move with new longs and short covering into a crowded long versus the prior 52 weeks.
Wheat flipped to long liquidation and new shorts into a crowded long versus the prior 52 weeks.
WTI was little changed in the book while Brent added new longs and short covering.
Disclaimer: COT data reflects positioning and sentiment, not trade timing or price predictions.
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