RoboMacro Research

Commodities Daily

Heating oil -11.3% drags energy 1-4; gold +1.61%, copper +1.43%

September 2, 2026
Covering the September 2, 2026 session · COT 25 Aug

Energy closed 1-up, 4-down as heating oil plunged 11.3% to $4.19/gal, with WTI at $90.78/bbl (-0.77%) and Brent $95.39 (-0.66%) while natural gas rose 2.41% to $2.97/MMBtu. Precious breadth was 3-1, gold up 1.61% to $4423.05/oz; copper gained 1.43% to $6.5995/lb. Soybean meal rose 2.31%, sugar 1.91%, live cattle fell 0.81%.

close02 Sep
COT report25 Aug
built03 Sep 11:46 UTC

All 23 markets

MarketLast1d1wNet (MM)z 52w
Energy
WTI Crude Oil90.78-0.77%+7.34%84,020+0.80
Brent Crude Oil95.39-0.66%+6.28%7,126-1.17
RBOB Gasoline3.10-1.13%-11.18%79,652+0.98
Heating Oil (ULSD)4.19-11.30%-3.70%16,641+0.04
Natural Gas2.97+2.41%+5.32%-71,673+0.02
Precious Metals
Gold4,423.05+1.61%-3.06%144,747+1.39
Silver65.14+0.58%-7.29%14,073-0.20
Platinum1,761.50-0.36%-6.50%10,228-0.10
Palladium1,359.50+2.30%-5.85%-5,499-1.25
Base Metals
Copper6.60+1.43%+0.57%76,271+1.36
Grains
Corn5.42——317,448+1.91
Wheat (SRW)7.75——-13,597+1.06
Wheat (HRW)8.36——42,514+1.53
Soybeans13.09——200,679+1.01
Soybean Oil0.71-1.98%+0.50%85,116+0.40
Soybean Meal349.90+2.31%+3.46%95,953+0.96
Softs
Sugar No. 110.19+1.91%+6.55%198,017+4.13
Coffee C2.97——31,188-0.08
Cocoa6,290.00——-10,458-0.47
Cotton No. 20.90-0.31%-0.21%88,293+1.93
Livestock
Live Cattle2.10-0.81%-4.06%59,729-2.37
Feeder Cattle3.15——8,886-1.75
Lean Hogs0.84+0.18%+2.32%-36,098-1.55
Cross-section of 23 commodity markets | n 23 | WTI Crude Oil last 90.78 1d -0.77% net 84020 z 0.7976302614557397 | Brent Crude Oil last 95.39 1d -0.66% net 7126 z -1.1664464638482037 | RBOB Gasoline last 3.0996 1d -1.13% net 79652 z 0.9754802958720077 | Heating Oil (ULSD) last 4.19 1d -11.3% net 16641 z 0.04113724254789871 | Natural Gas last 2.97 1d 2.41% net -71673 z 0.017101451632145468 | Gold last 4423.05 1d 1.61% net 144747 z 1.3884833737755133 | Silver last 65.14 1d 0.58% net 14073 z -0.19673898568287546 | Platinum last 1761.5 1d -0.36% net 10228 z -0.10095993452318439 | Palladium last 1359.5 1d 2.3% net -5499 z -1.2521461881518576 | Copper last 6.5995 1d 1.43% net 76271 z 1.3589874586450192 | Corn last 5.425 1d None% net 317448 z 1.9075887168461947 | Wheat (SRW) last 7.7475 1d None% net -13597 z 1.062662769919815 | Wheat (HRW) last 8.3575 1d None% net 42514 z 1.5348834259536939 | Soybeans last 13.0875 1d None% net 200679 z 1.0061161868819402 | Soybean Oil last 0.7094 1d -1.98% net 85116 z 0.39973684717136415 | Soybean Meal last 349.9 1d 2.31% net 95953 z 0.958110742703066 | Sugar No. 11 last 0.1871 1d 1.91% net 198017 z 4.126551277668864 | Coffee C last 2.9735 1d None% net 31188 z -0.08106493643294738 | Cocoa last 6290.0 1d None% net -10458 z -0.4710974232564838 | Cotton No. 2 last 0.8973 1d -0.31% net 88293 z 1.93125258273483 | Live Cattle last 2.1035 1d -0.81% net 59729 z -2.369867734109936 | Feeder Cattle last 3.15 1d None% net 8886 z -1.7512636453387582 | Lean Hogs last 0.838 1d 0.18% net -36098 z -1.5475372289146645

Net position is managed money longs minus shorts, in contracts; a positive number is a net long. Net positions are as of the 25 Aug report; prices are the 02 Sep close.

Energy

Energy was softer, 4 of 5 lower.

Energy finished 1-4 as heating oil plunged 11.3% to $4.19/gal, RBOB fell 1.13% to $3.0996/gal, WTI slipped 0.77% to $90.78/bbl and Brent 0.66% to $95.39/bbl while natural gas rose 2.41% to $2.97/MMBtu; OPEC+ is likely to keep output policy unchanged per sources, managed-money nets at 84020 in WTI (-3459), 7126 in Brent (+290) and -71673 in gas (+28407).

Brent Crude Oil added to a heavily short net long.

Headlines

Precious Metals

Precious Metals were firmer, 3 of 4 higher.

Precious breadth 3-1 with gold up 1.61% to $4423.05/oz, palladium 2.3% to $1359.5/oz and silver 0.58% to $65.14/oz while platinum eased 0.36% to $1761.5/oz; managed-money gold net 144747 (+3099), silver 14073 (+2378), platinum 10228 (+3014), palladium -5499 (-182).

Gold added to a extended net long; Palladium added to a heavily short net short.

Headlines

Base Metals

Base Metals were firmer, 1 of 1 higher.

Copper rose 1.43% to $6.5995/lb with managed-money net 76271 (-2377) as ANZ cited tariff concerns distorting the market.

Copper trimmed a extended net long.

Headlines

Grains

Grains were mixed, 1 of 2 higher.

Soybean meal gained 2.31% to $349.9/short ton and soybean oil fell 1.98% to $0.7094/lb; lasts were corn $5.425/bu, SRW wheat $7.7475, HRW $8.3575, soybeans $13.0875, with managed-money corn net 317448 (+135756), soybeans 200679 (+48897), meal 95953 (+12638), oil 85116 (-6117).

Corn added to a extended net long; Wheat (SRW) covered a extended net short; Wheat (HRW) added to a extended net long; Soybeans added to a extended net long.

Headlines

Softs

Softs were mixed, 1 of 2 higher.

Sugar No. 11 advanced 1.91% to $0.1871/lb and cotton eased 0.31% to $0.8973/lb; coffee last $2.9735/lb and cocoa $6290/mt, with Asia’s top cocoa processor warning El Niño to spur a global deficit and Ghana output seen possibly sinking by more than a third; managed-money sugar net 198017 (+59404), cotton 88293 (+15621).

Sugar No. 11 added to a stretched net long; Cotton No. 2 added to a extended net long.

Headlines

Livestock

Livestock was mixed, 1 of 2 higher.

Live cattle fell 0.81% to $2.1035/lb and lean hogs rose 0.18% to $0.838/lb, feeder cattle last $3.15/lb; managed-money nets 59729 (-3238) in live cattle, 8886 (-1375) in feeders and -36098 (-7101) in hogs.

Live Cattle trimmed a washed out net long; Feeder Cattle trimmed a heavily short net long; Lean Hogs added to a heavily short net short.

Headlines

Books against the session

Managed-money net position expressed as a z-score over 52 weeks, against the session price change. Live cross-section.

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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. 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. Cocoa: the two closes belong to two different contracts (CCU26.NYB then CCZ26.NYB) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld. Feeder Cattle: the two closes belong to two different contracts (GFU26.CME then GFV26.CME) — the change is the calendar spread, not a session move. The level shown is current; the change is withheld.