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Quantitative Finance · Glossary

What is Commitments of Traders report, managed money?

Also known as: Commitments of Traders report · managed money

Definition 9.6 Markets III: Commodities, Energy and Crypto · Chapter 9 — Agriculturals and Softs

The Commitments of Traders report (COT) is the weekly publication by the US Commodity Futures Trading Commission of the aggregate long and short positions of large traders in each futures market, by category, as of Tuesday. In its disaggregated form managed money is the category of commodity trading advisors, commodity pool operators and funds that trade on behalf of clients, as distinct from producers and merchants, swap dealers and other reportable traders.

CBOT corn: managed money’s net position as a share of open interest, monthly means of weekly reports, January 2016 to July 2026, against the monthly maize price. Funds are long when prices rise and short when they fall: the two series have a correlation of 0.68. Data: CFTC disaggregated Commitments of Traders (futures only); IMF maize price via FRED.
Figure 9.3. CBOT corn: managed money’s net position as a share of open interest, monthly means of weekly reports, January 2016 to July 2026, against the monthly maize price. Funds are long when prices rise and short when they fall: the two series have a correlation of 0.68. Data: CFTC disaggregated Commitments of Traders (futures only); IMF maize price via FRED.
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