30-Day Fed Funds COT Report — Futures Positioning
30-Day Fed Funds futures · CBOT · CFTC contract code 045601
Latest positioning
Week ending 28 July 2026 · added 79,755 on the week · open interest 2,688,322 (+282,185)
Net speculative position — last 52 weeks
The current reading sits in the 4th percentile of its 3-year range — over the past 3 years, the net position has been lower than it is now 4% of the time. A high reading means the position is crowded by its own historical standards; it is context, not a forecast.
All three cohorts
| Category | Net position | Week change |
|---|---|---|
| Large speculatorsFunds and managed money | -312,547 | +79,755 |
| CommercialsProducers, users and banks hedging physical exposure | +287,009 | -88,553 |
| Small tradersBelow the CFTC reporting threshold | +25,538 | — |
The three cohorts net to zero between them — every long has a short on the other side. Commercials being heavily short is normal for a produced commodity and is not a bearish view; it is a hedge against inventory they already own.
Weekly history
| Week ending | Specs net | Open interest |
|---|---|---|
| 28 Jul 2026 | -312,547 | 2,688,322 |
| 21 Jul 2026 | -392,302 | 2,406,137 |
| 14 Jul 2026 | -407,579 | 2,276,254 |
| 7 Jul 2026 | -354,253 | 2,325,148 |
| 30 Jun 2026 | -336,017 | 2,430,120 |
| 23 Jun 2026 | -299,403 | 2,187,080 |
| 16 Jun 2026 | -187,934 | 2,095,395 |
| 9 Jun 2026 | -177,055 | 1,799,526 |
| 2 Jun 2026 | -132,324 | 1,701,171 |
| 26 May 2026 | -106,799 | 1,939,945 |
| 19 May 2026 | -96,824 | 1,908,126 |
| 12 May 2026 | -42,000 | 1,779,352 |
| 5 May 2026 | +30,815 | 1,594,391 |
| 28 Apr 2026 | -14,312 | 1,954,442 |
| 21 Apr 2026 | -4,559 | 1,862,668 |
| 14 Apr 2026 | -27,761 | 1,857,369 |
| 7 Apr 2026 | -74,504 | 1,840,266 |
| 31 Mar 2026 | -50,706 | 2,188,866 |
| 24 Mar 2026 | -32,042 | 2,214,221 |
| 17 Mar 2026 | -23,399 | 2,153,736 |
| 10 Mar 2026 | -76,782 | 1,987,045 |
| 3 Mar 2026 | -160,245 | 1,817,249 |
| 24 Feb 2026 | -209,611 | 2,334,560 |
| 17 Feb 2026 | -231,181 | 2,134,594 |
| 10 Feb 2026 | -174,730 | 1,937,470 |
| 3 Feb 2026 | -194,703 | 1,765,710 |
| 27 Jan 2026 | -116,029 | 2,345,798 |
| 20 Jan 2026 | -77,811 | 2,199,385 |
| 13 Jan 2026 | +59,440 | 2,150,469 |
| 6 Jan 2026 | +160,358 | 2,190,669 |
| 30 Dec 2025 | +180,795 | 2,600,580 |
| 23 Dec 2025 | +255,186 | 2,592,771 |
| 16 Dec 2025 | +272,501 | 2,586,292 |
| 9 Dec 2025 | +310,943 | 2,424,475 |
| 2 Dec 2025 | +284,299 | 2,150,976 |
| 25 Nov 2025 | +219,823 | 2,560,167 |
| 18 Nov 2025 | -93,419 | 2,025,963 |
| 10 Nov 2025 | -104,590 | 1,973,685 |
| 4 Nov 2025 | -131,950 | 2,058,249 |
| 28 Oct 2025 | -148,193 | 2,673,627 |
| 21 Oct 2025 | -83,037 | 2,583,819 |
| 14 Oct 2025 | -94,178 | 2,582,076 |
| 7 Oct 2025 | -158,970 | 2,629,150 |
| 30 Sep 2025 | -164,089 | 2,944,402 |
| 23 Sep 2025 | -386,831 | 3,033,133 |
| 16 Sep 2025 | -119,513 | 2,526,362 |
| 9 Sep 2025 | -207,456 | 2,264,742 |
| 2 Sep 2025 | -215,874 | 1,980,922 |
| 26 Aug 2025 | -393,823 | 2,499,246 |
| 19 Aug 2025 | -317,054 | 2,336,894 |
| 12 Aug 2025 | -233,667 | 2,213,611 |
| 5 Aug 2025 | -227,270 | 2,058,897 |
Source: CFTC Commitments of Traders (Legacy, futures only) — a US government work, public domain. Positions are measured Tuesday and published the following Friday at about 15:30 ET, so this report is always at least three days behind the market. Positioning describes how traders are placed; it is not a forecast.