Week 20, 2026
Coffee leads selling while wheat draws buying
Report date: Tue 19th May 26
Released: Fri 22nd May 26
Legacy Futures Only Report
Good Morning. This is your weekly COT Digest. Speculators drove the largest move in coffee this week through long liquidation and new shorts. Wheat attracted buying on the other side of the tape, though that was the smaller portion.
Top Buyers This Week
Wheat
The book is a crowded long versus the prior 52 weeks. New longs and short covering while net long, +5.18% of the book. This marks a second week of buying. Spot did not continue the buying from the report date close to the release close; it moved the other way, -3.1%.
Sugar
This marks a flip from long liquidation last week. New longs and short covering while still net short, +3.35% of the book. Spot did not continue the buying from the report date close to the release close; it moved the other way, -2.1%.
| Commodity | Contracts | Long | Short | Net Long | 52w |
|---|---|---|---|---|---|
|
Wheat
Spot -3.1% from the report date close (Tue 19 May) to the release close (Fri 22 May) |
6.24%
(286,271)
|
6.46%
|
-4.02%
|
5.18%
|
98th |
|
Sugar
Spot -2.1% from the report date close (Tue 19 May) to the release close (Fri 22 May) |
0.99%
(559,421)
|
5.64%
|
-1.75%
|
3.35%
|
81st |
Top Sellers This Week
Coffee
The heaviest selling of the week: long liquidation and new shorts while still net long, -5.79% of the book. This is a second week of selling. The book is a crowded short versus the prior 52 weeks. Spot did not continue the selling from the report date close to the release close; it moved the other way, +0.8%.
Cotton
This marks a flip from new longs last week. Long liquidation while still net long, -5.13% of the book. The book is a crowded long versus the prior 52 weeks. Spot continued the selling from the report date close to the release close, -6.0%.
Brent Crude
Long liquidation and new shorts while still net short, -4.60% of the book. This is a second week of selling. Spot continued the selling from the report date close to the release close, -7.0%.
Gold
Long liquidation and new shorts while still net long, -4.40% of the book.
Corn
Long liquidation and new shorts while still net long, -3.36% of the book.
| Commodity | Contracts | Long | Short | Net Short | 52w |
|---|---|---|---|---|---|
|
Coffee
Spot +0.8% from the report date close (Tue 19 May) to the release close (Fri 22 May) |
4.15%
(91,638)
|
-1.33%
|
13.06%
|
-5.79%
|
8th |
|
Cotton
Spot -6.0% from the report date close (Tue 19 May) to the release close (Fri 22 May) |
-1.77%
(182,086)
|
-7.11%
|
-1.29%
|
-5.13%
|
96th |
|
Brent Crude
Spot -7.0% from the report date close (Tue 19 May) to the release close (Fri 22 May) |
-1.28%
(144,592)
|
-9.77%
|
0.54%
|
-4.6%
|
56th |
|
Gold
Spot +1.4% from the report date close (Tue 19 May) to the release close (Fri 22 May) |
0.75%
(262,203)
|
-3.99%
|
6.26%
|
-4.4%
|
21st |
|
Corn
Spot -2.5% from the report date close (Tue 19 May) to the release close (Fri 22 May) |
-0.48%
(781,276)
|
-0.19%
|
12.99%
|
-3.36%
|
87th |
|
Soybeans
Spot -1.1% from the report date close (Tue 19 May) to the release close (Fri 22 May) |
3.25%
(364,864)
|
-0.43%
|
16.01%
|
-3.31%
|
79th |
|
Silver
Spot +1.4% from the report date close (Tue 19 May) to the release close (Fri 22 May) |
-2.94%
(44,511)
|
-5.41%
|
-5.14%
|
-3.06%
|
60th |
|
Natural Gas
Spot -6.6% from the report date close (Tue 19 May) to the release close (Fri 22 May) |
-1.77%
(652,978)
|
-4.62%
|
1.13%
|
-2.41%
|
10th |
Other Notable Moves
Soybeans saw long liquidation and new shorts, -3.31% of the book. Spot continued the selling from the report date close to the release close, -1.1%.
Silver saw long liquidation while still net long, -3.06% of the book. Spot did not continue the selling from the report date close to the release close; it moved the other way, +1.4%.
Natural Gas saw long liquidation and new shorts while still net short, -2.41% of the book. Spot continued the selling from the report date close to the release close, -6.6%.
Quick Read
Coffee posted the week's largest move with long liquidation and new shorts while still net long.
Wheat drew new longs and short covering into a crowded long versus the prior 52 weeks.
Cotton flipped to selling while the book remained a crowded long versus the prior 52 weeks.
Disclaimer: COT data reflects positioning and sentiment, not trade timing or price predictions.
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