Soybeans (CBOT)
Soybeans positioning
Price series: Soybean futures (front month) · positions as of Tuesday Sep 15, 2026, published Friday Sep 18, 2026
Price and positioning are rising together: the trend is well supported.
price +5.7% · managed money net position +110,996 (contracts, over 8 weekly reports)
Price vs positioning (contracts)
Price on top, and what the big traders were holding underneath it.
COT Index
0–100 · vs last 3 yearsHow extreme today's positioning is compared with this group's own history.
Each group's current net position, rescaled 0–100 against its own high and low over the selected lookback. 0 = most bearish it has been in that window, 100 = most bullish. Unitless by design, so markets of very different sizes can be compared.
Near the most bullish this group has been in the window.
Near the most bearish this group has been in the window.
Near the most bullish this group has been in the window.
Near the most bearish this group has been in the window.
Near the most bearish this group has been in the window.
COT Index = ((Current − Min) / (Max − Min)) × 100, over the last 3 years
Method credit: the 0–100 normalization goes back to Larry Williams' COT work in the 1980s and was developed and popularized by Stephen Briese, author of The Commitments of Traders Bible.
Disagreement Index
contracts · index 0–100How far apart two trader groups are right now.
Gap = group A's net position minus group B's, measured in contracts. The Disagreement Index rescales that difference 0–100 against its own last 3 years: 0 = the two groups as close together as they get, 100 = as far apart as they get.
Historically extreme disagreement between the two groups.
Left axis: gap in contracts (positive = Managed money is more net long than Producers / merchants). Right axis: disagreement index, 0–100. Gap tracks Managed money − Producers / merchants.
Latest week by category
What each trader group was holding in the most recent report.
Positions as of Tuesday Sep 15, 2026, published Friday Sep 18, 2026, compared with the prior weekly report. Positive net = net long; negative net = net short. COT index is measured over the last 3 years.
| Category | Long (contracts) | Short (contracts) | Net (contracts) | Weekly change (contracts) | COT index (0–100, 3y) |
|---|---|---|---|---|---|
| Non-commercial (large specs) | 356,583 | 95,400 | 261,183 | -12,241 | 97 |
| Commercial (hedgers) | 484,749 | 723,324 | -238,575 | +12,975 | 3 |
| Managed money | 282,581 | 41,080 | 241,501 | -15,757 | 96 |
| Producers / merchants | 323,727 | 636,056 | -312,329 | +30,566 | 8 |
| Swap dealers | 136,731 | 62,977 | 73,754 | -17,591 | 0 |
Signal log — Managed money
Every past signal in this market, and what price did afterwards.
Every rolling 8-week window classified as a bullish or bearish divergence, or as convergence where price and positioning agree. Price change is in percent; net change is in contracts.
Each row covers one stretch of weekly reports: the % is the price change over that stretch, the net figure is the change in the group's net position, in contracts.
- Convergence — healthy uptrendJun 9, 2026 → Sep 15, 2026price +18.5% · net position +143,642 contracts
- Bearish divergenceMay 12, 2026 → Jul 21, 2026price +6.0% · net position -77,518 contracts
- Convergence — healthy downtrendApr 7, 2026 → Jun 30, 2026price -3.7% · net position -143,156 contracts
- Bearish divergenceMar 31, 2026 → May 26, 2026price +2.0% · net position -19,779 contracts
- Convergence — healthy uptrendDec 23, 2025 → Apr 7, 2026price +11.1% · net position +69,044 contracts
- Bearish divergenceDec 9, 2025 → Feb 10, 2026price +5.2% · net position -74,229 contracts
- Convergence — healthy downtrendNov 4, 2025 → Jan 27, 2026price -3.4% · net position -165,272 contracts
- Convergence — healthy uptrendSep 2, 2025 → Dec 9, 2025price +7.0% · net position +178,709 contracts
- Bullish divergenceAug 12, 2025 → Oct 7, 2025price -1.5% · net position +30,124 contracts
- Convergence — healthy uptrendAug 5, 2025 → Sep 30, 2025price +5.3% · net position +22,001 contracts
- Convergence — healthy downtrendApr 29, 2025 → Aug 12, 2025price -2.5% · net position -85,151 contracts
- Convergence — healthy uptrendFeb 25, 2025 → May 27, 2025price +3.0% · net position +37,205 contracts
Source: CFTC Commitments of Traders — positions as of Tuesday, published the following Friday. All position figures are futures contracts unless the % of open interest view is selected. Positioning is a sentiment tool, not a timing signal. Not investment advice.