RoboMacro Research

Commodities Daily

Precious rally hard, copper +2.65%; WTI firm, nat gas -2.99%, sugar -3.8%

September 3, 2026
Covering the September 3, 2026 session · COT 25 Aug

Precious breadth was 4 up of 4, palladium +7.65% to 1426.5 $/oz and silver +5.02% to 66.89, with copper +2.65% to 6.673 $/lb. Energy printed 3 up and 1 down of 5 as WTI rose 0.49% to 91.09 $/bbl and natural gas fell 2.99% to 2.92 $/MMBtu. Softs and livestock split, sugar −3.8% to 0.1799 $/lb against cotton +1.32%, live cattle +1.93% and lean hogs −0.45%.

close03 Sep
COT report25 Aug
built04 Sep 11:47 UTC

All 23 markets

MarketLast1d1wNet (MM)z 52w
Energy
WTI Crude Oil91.09+0.49%+7.71%84,020+0.80
Brent Crude Oil95.57+0.22%+6.48%7,126-1.17
RBOB Gasoline3.14+1.30%-9.91%79,652+0.98
Heating Oil (ULSD)4.72+0.00%+8.48%16,641+0.04
Natural Gas2.92-2.99%+3.55%-71,673+0.02
Precious Metals
Gold4,475.01+2.12%-1.92%144,747+1.39
Silver66.89+5.02%-4.80%14,073-0.20
Platinum1,827.00+4.49%-3.02%10,228-0.10
Palladium1,426.50+7.65%-1.21%-5,499-1.25
Base Metals
Copper6.67+2.65%+1.69%76,271+1.36
Grains
Corn5.39——317,448+1.91
Wheat (SRW)7.52——-13,597+1.06
Wheat (HRW)8.13——42,514+1.53
Soybeans13.14——200,679+1.01
Soybean Oil0.70-0.71%-0.84%85,116+0.40
Soybean Meal355.20+4.72%+5.03%95,953+0.96
Softs
Sugar No. 110.18-3.80%+2.45%198,017+4.13
Coffee C2.95——31,188-0.08
Cocoa6,140.00——-10,458-0.47
Cotton No. 20.88+1.32%-2.67%88,293+1.93
Livestock
Live Cattle2.14+1.93%-2.29%59,729-2.37
Feeder Cattle3.21——8,886-1.75
Lean Hogs0.83-0.45%+1.83%-36,098-1.55
Cross-section of 23 commodity markets | n 23 | WTI Crude Oil last 91.09 1d 0.49% net 84020 z 0.7976302614557397 | Brent Crude Oil last 95.57 1d 0.22% net 7126 z -1.1664464638482037 | RBOB Gasoline last 3.1442 1d 1.3% net 79652 z 0.9754802958720077 | Heating Oil (ULSD) last 4.72 1d 0.0% net 16641 z 0.04113724254789871 | Natural Gas last 2.92 1d -2.99% net -71673 z 0.017101451632145468 | Gold last 4475.01 1d 2.12% net 144747 z 1.3884833737755133 | Silver last 66.89 1d 5.02% net 14073 z -0.19673898568287546 | Platinum last 1827.0 1d 4.49% net 10228 z -0.10095993452318439 | Palladium last 1426.5 1d 7.65% net -5499 z -1.2521461881518576 | Copper last 6.673 1d 2.65% net 76271 z 1.3589874586450192 | Corn last 5.3925 1d None% net 317448 z 1.9075887168461947 | Wheat (SRW) last 7.5225 1d None% net -13597 z 1.062662769919815 | Wheat (HRW) last 8.1325 1d None% net 42514 z 1.5348834259536939 | Soybeans last 13.145 1d None% net 200679 z 1.0061161868819402 | Soybean Oil last 0.7 1d -0.71% net 85116 z 0.39973684717136415 | Soybean Meal last 355.2 1d 4.72% net 95953 z 0.958110742703066 | Sugar No. 11 last 0.1799 1d -3.8% net 198017 z 4.126551277668864 | Coffee C last 2.949 1d None% net 31188 z -0.08106493643294738 | Cocoa last 6140.0 1d None% net -10458 z -0.4710974232564838 | Cotton No. 2 last 0.8752 1d 1.32% net 88293 z 1.93125258273483 | Live Cattle last 2.14225 1d 1.93% net 59729 z -2.369867734109936 | Feeder Cattle last 3.2125 1d None% net 8886 z -1.7512636453387582 | Lean Hogs last 0.834 1d -0.45% 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 03 Sep close.

Energy

Energy was firmer, 3 of 5 higher.

WTI rose 0.49% to 91.09 $/bbl, Brent 0.22% to 95.57, RBOB 1.3% to 3.1442 $/gal, heating oil unchanged at 4.72 $/gal and natural gas −2.99% to 2.92 $/MMBtu, with managed-money WTI net 84020 after −3459 and natural gas net −71673 after +28407 as of the 2026-08-25 COT against headlines on Nigeria production recovery and Uganda naming Pearl Sweet.

Brent Crude Oil added to a heavily short net long.

Headlines

Precious Metals

Precious Metals were firmer, 4 of 4 higher.

Gold rose 2.12% to 4475.01 $/oz, silver 5.02% to 66.89, platinum 4.49% to 1827.0 and palladium 7.65% to 1426.5, managed-money gold net 144747 after +3099, silver 14073 after +2378 and platinum 10228 after +3014 as of 2026-08-25 as gold prices rise headlines circulated.

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 2.65% to 6.673 $/lb with managed-money net 76271 after −2377 as of 2026-08-25, copper to hit record as tariff concerns distort market, ANZ says.

Copper trimmed a extended net long.

Headlines

Grains

Grains were mixed, 1 of 2 higher.

Soybean meal rose 4.72% to 355.2 $/short ton and soybean oil fell 0.71% to 0.7 $/lb with corn last 5.3925 $/bu, SRW wheat 7.5225, HRW 8.1325 and soybeans 13.145, managed-money corn net 317448 after +135756 and soybeans 200679 after +48897 as of 2026-08-25 as soybean exports to China and SA soya beans in the Chinese market made headlines alongside a wheat quality row in Punjab.

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 fell 3.8% to 0.1799 $/lb and cotton rose 1.32% to 0.8752 $/lb with coffee last 2.949 $/lb and cocoa 6140.0 $/mt, managed-money sugar net 198017 after +59404 and cotton 88293 after +15621 as of 2026-08-25, sugar output at risk from pest infestation and Ghana cocoa output may sink by more than a third.

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 rose 1.93% to 2.14225 $/lb and lean hogs fell 0.45% to 0.834 $/lb with feeder cattle last 3.2125, managed-money live cattle net 59729 after −3238, feeder 8886 after −1375 and lean hogs −36098 after −7101 as of 2026-08-25.

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.