Week 19, 2026
Copper leads buying as coffee and corn face selling
Report date: Tue 12th May 26
Released: Fri 15th May 26
Legacy Futures Only Report
Good Morning. This is your weekly COT Digest. Speculators stepped up new longs and short covering in copper in size this week. Coffee and corn posted notable selling, but that was the smaller side of the tape.
Top Buyers This Week
Copper
The book is a crowded long versus the prior 52 weeks. New longs and short covering while net long, +10.38% 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, -3.6%.
Silver
New longs while net long, +5.28% 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, -9.4%.
Gold
New longs and short covering while net long, +3.2% of the book. Spot did not continue the buying from the report date close to the release close; it moved the other way, -1.3%.
Cotton
New longs while net long, +0.91% of the book.
Wheat
New longs while net short, +0.82% of the book.
| Commodity | Contracts | Long | Short | Net Long | 52w |
|---|---|---|---|---|---|
|
Copper
Spot -3.6% from the report date close (Tue 12 May) to the release close (Fri 15 May) |
11.69%
(141,227)
|
12.99%
|
-2.85%
|
10.38%
|
100th |
|
Silver
Spot -9.4% from the report date close (Tue 12 May) to the release close (Fri 15 May) |
7.09%
(47,027)
|
10.93%
|
15.27%
|
5.28%
|
65th |
|
Gold
Spot -1.3% from the report date close (Tue 12 May) to the release close (Fri 15 May) |
2.33%
(267,964)
|
3.77%
|
-0.7%
|
3.2%
|
56th |
|
Cotton
Spot -6.6% from the report date close (Tue 12 May) to the release close (Fri 15 May) |
0.78%
(193,179)
|
2.57%
|
4.58%
|
0.91%
|
98th |
|
Wheat
Spot -4.4% from the report date close (Tue 12 May) to the release close (Fri 15 May) |
2.98%
(283,575)
|
4.46%
|
2.41%
|
0.82%
|
96th |
Top Sellers This Week
Coffee
Long liquidation and new shorts while net long, -7.84% of the book. This marks a flip from new longs and short covering last week. Spot continued the selling from the report date close to the release close, -3.5%.
Corn
Long liquidation and new shorts while net long, -6.47% of the book. This marks a flip from new longs and short covering last week. The book is a crowded long versus the prior 52 weeks. Spot continued the selling from the report date close to the release close, -2.5%.
Brent Crude
Long liquidation and new shorts while net short, -5.79% of the book. This marks a flip from new longs and short covering last week. Spot did not continue the selling from the report date close to the release close; it moved the other way, +1.4%.
Soybeans
Long liquidation while net long, -2.18% of the book.
Crude Oil WTI
Long liquidation while net long, -1.52% of the book.
| Commodity | Contracts | Long | Short | Net Short | 52w |
|---|---|---|---|---|---|
|
Coffee
Spot -3.5% from the report date close (Tue 12 May) to the release close (Fri 15 May) |
3.52%
(87,993)
|
-2.11%
|
19.19%
|
-7.84%
|
15th |
|
Corn
Spot -2.5% from the report date close (Tue 12 May) to the release close (Fri 15 May) |
-0.97%
(758,059)
|
-5.16%
|
11.14%
|
-6.47%
|
94th |
|
Brent Crude
Spot +1.4% from the report date close (Tue 12 May) to the release close (Fri 15 May) |
6.63%
(150,608)
|
-7.27%
|
4.48%
|
-5.79%
|
73rd |
|
Soybeans
Spot -3.0% from the report date close (Tue 12 May) to the release close (Fri 15 May) |
1.6%
(355,570)
|
-4.64%
|
-8.23%
|
-2.18%
|
98th |
|
Crude Oil WTI
Spot +3.2% from the report date close (Tue 12 May) to the release close (Fri 15 May) |
0.68%
(573,105)
|
-2.63%
|
-0.56%
|
-1.52%
|
56th |
|
Natural Gas
Spot +4.1% from the report date close (Tue 12 May) to the release close (Fri 15 May) |
-0.02%
(659,386)
|
1.63%
|
3.35%
|
-1.5%
|
25th |
Other Notable Moves
Natural Gas saw new shorts while net short, -1.5% of the book. Spot did not continue the selling from the report date close to the release close; it moved the other way, +4.1%.
Quick Read
Copper posted the week's largest move with new longs and short covering into a crowded long versus the prior 52 weeks.
Coffee and corn both shifted to long liquidation and new shorts, with corn's book remaining a crowded long versus the prior 52 weeks.
Brent saw long liquidation and new shorts while net short, but spot moved the other way.
Disclaimer: COT data reflects positioning and sentiment, not trade timing or price predictions.
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