Across the 23 markets covered, 9 rose and 5 fell on the 2026-08-20 close. Positioning is as of the 2026-08-11 Commitments of Traders report.
close 20 AugCOT report 11 Augbuilt 21 Aug 11:46 UTCprice dates span 1d
Cross-section
All 23 markets
Market
Last
1d
1w
Net (MM)
z 52w
Energy
WTI Crude Oil
84.71
+0.17%
+0.86%
79,916
+0.76
Brent Crude Oil
92.05
+0.44%
+0.03%
7,084
-0.97
RBOB Gasoline
3.02
—
—
69,851
+0.38
Heating Oil (ULSD)
4.33
-4.84%
-0.05%
13,574
-0.32
Natural Gas
2.78
+0.00%
-0.36%
-110,630
-1.18
Precious Metals
Gold
4,544.25
+1.87%
+3.50%
137,662
+1.07
Silver
66.76
+5.37%
+3.34%
11,158
-0.58
Platinum
1,805.50
+2.85%
+3.85%
7,718
-0.67
Palladium
1,333.00
+1.62%
+0.98%
-4,947
-0.99
Base Metals
Copper
6.48
—
—
79,027
+1.61
Grains
Corn
5.03
—
—
125,875
+0.69
Wheat (SRW)
7.00
—
—
-33,400
+0.61
Wheat (HRW)
7.76
—
—
25,606
+1.11
Soybeans
12.36
—
—
109,109
-0.06
Soybean Oil
0.71
+2.15%
+3.35%
79,284
+0.35
Soybean Meal
323.30
+1.38%
+4.73%
73,690
+0.73
Softs
Sugar No. 11
0.17
-0.28%
+5.42%
43,584
+3.51
Coffee C
3.28
—
—
32,433
+0.06
Cocoa
6,012.00
-0.56%
+4.85%
-6,667
-0.08
Cotton No. 2
0.89
+1.83%
+5.97%
66,780
+1.74
Livestock
Live Cattle
2.18
—
—
65,949
-2.43
Feeder Cattle
3.23
-4.16%
-5.28%
10,902
-1.39
Lean Hogs
0.80
-1.44%
-15.80%
-24,363
-1.50
Cross-section of 23 commodity markets | n 23 | WTI Crude Oil last 84.71 1d 0.17% net 79916 z 0.7616985462557693 | Brent Crude Oil last 92.05 1d 0.44% net 7084 z -0.9732030847095096 | RBOB Gasoline last 3.0181 1d None% net 69851 z 0.37734983944477096 | Heating Oil (ULSD) last 4.33 1d -4.84% net 13574 z -0.32058203578186045 | Natural Gas last 2.78 1d 0.0% net -110630 z -1.1788210364556022 | Gold last 4544.25 1d 1.87% net 137662 z 1.0680019417969828 | Silver last 66.76 1d 5.37% net 11158 z -0.5848650981892426 | Platinum last 1805.5 1d 2.85% net 7718 z -0.6721458801321419 | Palladium last 1333.0 1d 1.62% net -4947 z -0.9875957216529972 | Copper last 6.4795 1d None% net 79027 z 1.6069952057746997 | Corn last 5.025 1d None% net 125875 z 0.6925078566671122 | Wheat (SRW) last 6.995 1d None% net -33400 z 0.6075855465392617 | Wheat (HRW) last 7.76 1d None% net 25606 z 1.1073607973861233 | Soybeans last 12.36 1d None% net 109109 z -0.05519699990565763 | Soybean Oil last 0.7136 1d 2.15% net 79284 z 0.3501113514179189 | Soybean Meal last 323.3 1d 1.38% net 73690 z 0.727501521564214 | Sugar No. 11 last 0.175 1d -0.28% net 43584 z 3.5096706687236474 | Coffee C last 3.283 1d None% net 32433 z 0.06214701120908892 | Cocoa last 6012.0 1d -0.56% net -6667 z -0.07596958709477582 | Cotton No. 2 last 0.8859 1d 1.83% net 66780 z 1.7410499551582566 | Live Cattle last 2.1805 1d None% net 65949 z -2.4290302671440713 | Feeder Cattle last 3.22825 1d -4.16% net 10902 z -1.3908962379010177 | Lean Hogs last 0.80325 1d -1.44% net -24363 z -1.4952940268482424
Net position is managed money longs minus shorts, in contracts; a positive number is a net long. Net positions are as of the 11 Aug report; prices are the 20 Aug close.
Energy
Energy
Energy was firmer, 2 of 4 higher.
Energy was firmer, 2 of 4 higher. Heating Oil (ULSD) fell 4.84%, with the book net long.
Energy — session changeEnergy — one-session change | n 4 | Range: -4.84% to +0.44% | WTI Crude Oil +0.17%, Brent Crude Oil +0.44%, Heating Oil (ULSD) -4.84%, Natural Gas +0.00%
Natural Gas covered a heavily short net short.
Energy — positioning, 52-week zEnergy — managed-money net, 52-week z | n 5 | WTI Crude Oil +0.76, Brent Crude Oil -0.97, RBOB Gasoline +0.38, Heating Oil (ULSD) -0.32, Natural Gas -1.18WTI Crude Oil — price and positioningWTI Crude Oil price against managed-money net, 2025-08-20 to 2026-08-20 | price n 250 daily, range 55.44 to 114.58 $/bbl | net n 51 weekly | price sampled monthly: 2025-08-20 64.19, 2025-09-19 63.02, 2025-10-21 58.66, 2025-11-20 60.07, 2025-12-22 58.18, 2026-01-23 60.70, 2026-02-24 65.62, 2026-03-25 91.51, 2026-04-24 98.42, 2026-05-26 97.63, 2026-06-25 72.67, 2026-07-27 84.25, 2026-08-20 84.71 | net sampled monthly: 2025-08-26 24,621, 2025-09-23 26,483, 2025-10-21 -38,154, 2025-11-18 -12,671, 2025-12-16 74, 2026-01-13 47,570, 2026-02-10 79,146, 2026-03-10 92,122, 2026-04-07 78,700, 2026-05-05 70,791, 2026-06-02 90,765, 2026-06-30 81,282, 2026-07-28 92,943, 2026-08-11 79,916Brent Crude Oil — price and positioningBrent Crude Oil price against managed-money net, 2025-08-20 to 2026-08-20 | price n 254 daily, range 59.93 to 138.21 $/bbl | net n 51 weekly | price sampled monthly: 2025-08-20 67.61, 2025-09-19 67.05, 2025-10-20 60.71, 2025-11-18 64.86, 2025-12-17 60.61, 2026-01-20 67.68, 2026-02-18 71.78, 2026-03-19 111.05, 2026-04-21 106.14, 2026-05-21 105.84, 2026-06-22 76.49, 2026-07-21 93.85, 2026-08-19 91.65, 2026-08-20 92.05 | net sampled monthly: 2025-08-26 -1,603, 2025-09-23 5,457, 2025-10-21 11,000, 2025-11-18 16,738, 2025-12-16 10,924, 2026-01-13 17,713, 2026-02-10 14,238, 2026-03-10 14,194, 2026-04-07 15,620, 2026-05-05 17,049, 2026-06-02 6,799, 2026-06-30 6,498, 2026-07-28 15,740, 2026-08-11 7,084RBOB Gasoline — price and positioningRBOB Gasoline price against managed-money net, 2025-08-20 to 2026-08-20 | price n 252 daily, range 1.68 to 3.77 $/gal | net n 51 weekly | price sampled monthly: 2025-08-20 2.13, 2025-09-19 1.97, 2025-10-20 1.83, 2025-11-18 2.00, 2025-12-18 1.70, 2026-01-21 1.86, 2026-02-20 2.00, 2026-03-23 2.97, 2026-04-22 3.36, 2026-05-21 3.38, 2026-06-23 2.96, 2026-07-23 3.50, 2026-08-20 3.02 | net sampled monthly: 2025-08-26 37,465, 2025-09-23 48,695, 2025-10-21 36,103, 2025-11-18 99,395, 2025-12-16 62,939, 2026-01-13 57,380, 2026-02-10 79,741, 2026-03-10 76,098, 2026-04-07 59,177, 2026-05-05 65,703, 2026-06-02 67,773, 2026-06-30 71,924, 2026-07-28 73,877, 2026-08-11 69,851Heating Oil (ULSD) — price and positioningHeating Oil (ULSD) price against managed-money net, 2025-08-20 to 2026-08-19 | price n 249 daily, range 2.09 to 4.71 $/gal | net n 51 weekly | price sampled monthly: 2025-08-20 2.33, 2025-09-19 2.35, 2025-10-21 2.26, 2025-11-20 2.58, 2025-12-22 2.21, 2026-01-23 2.33, 2026-02-24 2.78, 2026-03-25 4.08, 2026-04-24 4.03, 2026-05-26 3.78, 2026-06-25 3.30, 2026-07-27 4.10, 2026-08-19 4.33 | net sampled monthly: 2025-08-26 33,342, 2025-09-23 21,820, 2025-10-21 11,948, 2025-11-18 38,656, 2025-12-16 12,455, 2026-01-13 -5,460, 2026-02-10 20,575, 2026-03-10 20,439, 2026-04-07 17,766, 2026-05-05 11,779, 2026-06-02 11,997, 2026-06-30 8,481, 2026-07-28 11,246, 2026-08-11 13,574Natural Gas — price and positioningNatural Gas price against managed-money net, 2025-08-20 to 2026-08-20 | price n 248 daily, range 2.54 to 30.72 $/MMBtu | net n 51 weekly | price sampled monthly: 2025-08-20 2.80, 2025-09-19 2.89, 2025-10-20 2.99, 2025-11-19 3.94, 2025-12-22 3.67, 2026-01-27 17.19, 2026-02-26 2.94, 2026-03-27 2.99, 2026-04-28 2.70, 2026-05-28 3.04, 2026-06-29 3.33, 2026-07-29 2.58, 2026-08-20 2.78 | net sampled monthly: 2025-08-26 -44,032, 2025-09-23 -63,176, 2025-10-21 -45,917, 2025-11-18 -59,654, 2025-12-16 -66,328, 2026-01-13 -105,134, 2026-02-10 -8,188, 2026-03-10 -62,982, 2026-04-07 -86,033, 2026-05-05 -107,489, 2026-06-02 -114,854, 2026-06-30 -64,808, 2026-07-28 -105,826, 2026-08-11 -110,630
Books against the sessionManaged-money 52-week z against one-session change | n 15 | WTI Crude Oil z +0.76 chg +0.17%, Brent Crude Oil z -0.97 chg +0.44%, Heating Oil (ULSD) z -0.32 chg -4.84%, Natural Gas z -1.18 chg +0.00%, Gold z +1.07 chg +1.87%, Silver z -0.58 chg +5.37%, Platinum z -0.67 chg +2.85%, Palladium z -0.99 chg +1.62%, Soybean Oil z +0.35 chg +2.15%, Soybean Meal z +0.73 chg +1.38%, Sugar No. 11 z +3.51 chg -0.28%, Cocoa z -0.08 chg -0.56%, Cotton No. 2 z +1.74 chg +1.83%, Feeder Cattle z -1.39 chg -4.16%, Lean Hogs z -1.50 chg -1.44%
Managed-money net position expressed as a z-score over 52 weeks, against the session price change. Live cross-section.
Notes
Prices are the 20 Aug close. This note is written before the US open and carries no overnight session: moves in Asian and European hours after that close are not reflected above.
Positioning is the CFTC Commitments of Traders (Disaggregated) report for 11 Aug, futures only. The Base Metals section covers copper alone — it is the only base metal in this universe with a daily price.
Contract rolls. A continuous front-month series is two different contracts either side of a roll, and the change across that seam measures the calendar spread rather than the tape.
RBOB Gasoline: the two closes belong to two different contracts (RBU26.NYM then RBV26.NYM) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Copper: the two closes belong to two different contracts (HGQ26.CMX then HGU26.CMX) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Corn: the two closes belong to two different contracts (ZCU26.CBT then ZCZ26.CBT) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Wheat (SRW): the two closes belong to two different contracts (ZWU26.CBT then ZWZ26.CBT) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Wheat (HRW): the two closes belong to two different contracts (KEU26.CBT then KEZ26.CBT) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Soybeans: the two closes belong to two different contracts (ZSU26.CBT then ZSX26.CBT) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Coffee C: the two closes belong to two different contracts (KCU26.NYB then KCZ26.NYB) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.
Live Cattle: the two closes belong to two different contracts (LEQ26.CME then LEV26.CME) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.