The Hedgers' Ledger — 2026-07-18
Weekly COT extremes from the commercial book · CFTC report 2026-07-14 · 3-year window · Data: ChartHorizon
The report dated 14 July 2026 shows the commercial book thin on conviction: no market in this issue’s coverage sits at a positioning high, and Cotton #2 stands as the lone entry at a positioning low — a fresh print, new to the ledger this week. The board beyond these pages carries its own business. One extreme, one side — there is nothing in that shape to force a remark.
| Market | Side | Percentile | New |
|---|---|---|---|
| Cotton #2 | ▼ LOW | 4th | New |
Cotton #2 — commercials at a 3-year LOW
Producer/Merchant Net sits at the 4th percentile of its ~3-year range — the commercials (hedgers, the “smart-money” side) have been heavy net sellers. Net: -133,903 contracts (as of 2026-07-14). New this week.
Informational and educational only — not financial advice. Futures trading involves substantial risk of loss; seasonal and positioning signals do not guarantee future results. Signals and charts: ChartHorizon (local end-of-day data).