Three-Month SOFR COT Report — Net Positioning
Three-Month SOFR futures · CME · CFTC contract code 134741
Latest positioning
Week ending 6 October 2026 · added 34,095 on the week · open interest 12,657,372 (+201,495)
Net speculative position — last 52 weeks
The current reading sits in the 11th percentile of its 3-year range — over the past 3 years, the net position has been lower than it is now 11% 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 | -2,508,582 | +34,095 |
| CommercialsProducers, users and banks hedging physical exposure | +2,509,370 | -38,140 |
| Small tradersBelow the CFTC reporting threshold | -788 | — |
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 |
|---|---|---|
| 6 Oct 2026 | -2,508,582 | 12,657,372 |
| 29 Sep 2026 | -2,542,677 | 12,455,877 |
| 22 Sep 2026 | -2,643,832 | 12,230,496 |
| 15 Sep 2026 | -2,896,206 | 13,349,060 |
| 8 Sep 2026 | -3,103,337 | 13,294,407 |
| 1 Sep 2026 | -2,938,633 | 13,075,689 |
| 25 Aug 2026 | -2,734,233 | 13,036,905 |
| 18 Aug 2026 | -2,683,204 | 13,431,079 |
| 11 Aug 2026 | -2,571,459 | 13,171,809 |
| 4 Aug 2026 | -2,522,186 | 13,103,980 |
| 28 Jul 2026 | -2,515,622 | 12,809,153 |
| 21 Jul 2026 | -2,665,085 | 13,083,893 |
| 14 Jul 2026 | -2,692,081 | 13,177,859 |
| 7 Jul 2026 | -2,775,954 | 13,110,035 |
| 30 Jun 2026 | -2,876,540 | 13,029,733 |
| 23 Jun 2026 | -2,808,392 | 12,738,201 |
| 16 Jun 2026 | -2,908,978 | 14,100,241 |
| 9 Jun 2026 | -2,534,063 | 13,768,386 |
| 2 Jun 2026 | -2,148,601 | 13,499,017 |
| 26 May 2026 | -1,727,299 | 13,348,094 |
| 19 May 2026 | -1,473,774 | 13,385,384 |
| 12 May 2026 | -1,143,587 | 13,320,834 |
| 5 May 2026 | -1,100,455 | 12,739,923 |
| 28 Apr 2026 | -753,019 | 12,166,138 |
| 21 Apr 2026 | -705,746 | 12,049,195 |
| 14 Apr 2026 | -618,096 | 12,033,346 |
| 7 Apr 2026 | -564,314 | 12,055,518 |
| 31 Mar 2026 | -589,139 | 11,942,542 |
| 24 Mar 2026 | -425,910 | 12,136,228 |
| 17 Mar 2026 | -559,925 | 13,387,148 |
| 10 Mar 2026 | -516,694 | 13,192,631 |
| 3 Mar 2026 | -778,512 | 13,169,310 |
| 24 Feb 2026 | -763,031 | 13,425,263 |
| 17 Feb 2026 | -734,430 | 13,416,004 |
| 10 Feb 2026 | -462,119 | 13,452,693 |
| 3 Feb 2026 | -546,807 | 13,782,672 |
| 27 Jan 2026 | -594,042 | 13,397,835 |
| 20 Jan 2026 | -595,601 | 12,994,322 |
| 13 Jan 2026 | -524,612 | 12,765,402 |
| 6 Jan 2026 | -345,385 | 12,523,671 |
| 30 Dec 2025 | -206,166 | 12,419,866 |
| 23 Dec 2025 | -52,845 | 12,553,487 |
| 16 Dec 2025 | -174,663 | 13,820,005 |
| 9 Dec 2025 | -297,211 | 13,700,341 |
| 2 Dec 2025 | -320,083 | 13,686,171 |
| 25 Nov 2025 | -440,285 | 13,723,556 |
| 18 Nov 2025 | -679,013 | 13,399,707 |
| 10 Nov 2025 | -596,572 | 13,183,408 |
| 4 Nov 2025 | -618,021 | 12,991,122 |
| 28 Oct 2025 | -334,543 | 12,708,551 |
| 21 Oct 2025 | -331,615 | 12,557,380 |
| 14 Oct 2025 | -309,210 | 12,591,079 |
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.