Market News
A daily snapshot for each market we cover. One page per market, refreshed nightly after the futures tape closes.
Lean Hogs
Daily pork cold-storage drawdown, breeding-herd revisions, Canadian feeder-pig imports, CME managed-money positioning, and the weekly USDA Hogs & Pigs calendar. Refreshed nightly during trading days.
Live Cattle & Feeder Cattle
One hub for the cattle complex — fed-cattle slaughter-weight tape, box-beef cutout, cash-cattle basis, Hawkes jump-cluster regime readings, and the weekly CFTC managed-money positioning lens. Combined because Cattle on Feed, Weekly Slaughter, and beef cold-storage are joint USDA reports — splitting LC and FC would double-report every drop. Published nightly during trading days.
Corn
CBOT front-month corn returns, the soy-corn and hog-corn ratios, CFTC managed-money positioning with 5-year crowdedness percentile, and the WASDE / Export Sales / Weekly Ethanol / NASS release calendar. Signals strip populates as corn Z-scripts ship; the structural hub is live now. Published nightly during trading days.
Soybeans, Soybean Oil & Soybean Meal
One hub for the three futures in the soybean complex — CBOT soybeans, soybean oil, and soybean meal returns, the board crush margin that ties them together, the soy-corn ratio, and CFTC positioning for each leg with 5-year crowdedness percentile. Combined because WASDE, NASS Crop Progress, and Grain Stocks are joint USDA reports — splitting the three would triple-report every print. Published nightly during trading days.
Chicago, Kansas City & Minneapolis Wheat
One hub for the three wheat classes — CBOT soft red winter (W), KCBOT hard red winter (KW), and MGEX hard red spring (MW) futures returns, the HRW-SRW quality spread that signals protein-market mix, the wheat-corn feed-substitution ratio, and CFTC positioning for each exchange with 5-year crowdedness percentile. Combined because WASDE, NASS Crop Progress, Grain Stocks, and Prospective Plantings are joint USDA reports. Published nightly during trading days.
WTI & Brent Crude
One hub for the two global crude benchmarks — NYMEX WTI (CL) and ICE Brent (LCO) front-month returns and the Brent-WTI spread. Live EIA weekly crude stocks, US refinery utilization, Baker Hughes US oil rig count, and CFTC managed-money positioning for both benchmarks with 5-year crowdedness percentile. Upcoming EIA Weekly Petroleum Status, API, Baker Hughes, OPEC MOMR, and IEA Monthly land on the calendar. Published nightly during trading days.
Arabica Coffee
NYBOT Arabica (KC) futures returns, ICE certified Arabica stocks (daily), CFTC managed-money positioning with 5-year crowdedness percentile, and the ICO Composite Indicator plus Colombian-vs-Brazilian quality differential. Covers the Brazil-Colombia producer complex plus Vietnam Son La Arabica. Upcoming CFTC CoT, ICO Monthly, CONAB Brazilian crop estimates, and USDA Semi-Annual Coffee Reports. Published nightly during trading days.
Robusta Coffee
ICE Europe Robusta (LRC) futures returns in $/metric ton, ICE Europe managed-money positioning with 5-year crowdedness percentile (DCOT format, not CFTC), the ICO Robustas group indicator, and the broad ICO Composite. Covers the Vietnam-Indonesia-Brazil Conilon-Uganda producer complex. Upcoming ICE Europe CoT, ICO Monthly, Vietnam GSO exports, and UCDA Uganda monthly. Published nightly during trading days.
Cocoa
ICE Futures US (NYBOT) cocoa returns in $/metric ton, ICE certified cocoa stocks (daily), CFTC managed-money positioning with 5-year crowdedness percentile, and quarterly grindings from the European Cocoa Association (demand side) and the National Confectioners Association (North American grind). Covers the West Africa producer complex (Cote d’Ivoire + Ghana = ~65% world production) plus Nigeria + Cameroon. Published nightly during trading days.
Raw & White Sugar
One hub for both sugar futures — ICE US raw sugar (SB #11) in cents/lb, ICE Europe white sugar (LSU #5) in $/metric ton, and the white premium that reflects refining margin. Live CFTC and ICE Europe managed-money positioning for both benchmarks with 5-year crowdedness percentile, plus the EU monthly producer price. Covers the Brazil Center-South + Thailand + India + EU beet producer complex. Published nightly during trading days.
Cotton
ICE Futures US cotton (CT #2) returns in cents/lb, the COTLOOK A-Index physical benchmark (typically a 5-15 cents/lb premium over futures), CFTC managed-money positioning with 5-year crowdedness percentile, USDA Cotton on Call unfixed-sales (structural spec signal), and NASS US crop condition good+excellent percent. Covers the US Texas/Delta + India + Brazil Mato Grosso + Xinjiang producer complex. Published nightly during trading days.
Lumber
CME lumber (LBR) futures returns in $/thousand board feet, US Census housing starts (seasonally-adjusted annualized rate), and CFTC managed-money positioning. The new post-2023 contract has a shorter CFTC history (~191 weeks) so the crowdedness percentile displays with an explicit n-weeks caveat. Covers the US PNW + SE pine + Canadian supply complex plus the housing-starts / mortgage-rate demand side. Published nightly during trading days.
Natural Gas
NYMEX Henry Hub (NG) futures returns in $/MMBtu, EIA weekly storage (US Lower 48 working gas in Bcf — THE natgas release Thursday 10:30 ET), Baker Hughes US gas rig count, CFTC managed-money positioning with 5-year crowdedness percentile, and a season-aware NOAA HDD/CDD anomaly tile (CDD May-Sep, HDD rest of year). Covers winter heating demand, summer power-burn, and the LNG export complex. Published nightly during trading days.
Gold
NYMEX COMEX gold (GC) futures returns in $/oz, the LBMA PM gold fix (London 3pm global reference print), CFTC managed-money positioning with 5-year crowdedness percentile, and the World Gold Council weekly ETF flows (1-week + 4-week rolling) with total global holdings in tonnes. Quarterly WGC demand trends anchor the macro view. Covers the India-China physical complex (Diwali, Chinese New Year, wedding season) and the FOMC/CPI/real-yield macro side. Published nightly during trading days.
Silver
NYMEX COMEX silver (SI) futures returns in $/oz, the LBMA silver fix (London noon global physical reference), CFTC managed-money positioning with 5-year crowdedness percentile, LBMA London vault holdings in millions of ounces, Silver Institute annual supply-vs-demand balance (with solar PV industrial breakdown), and INEGI Mexico monthly mine production (world’s #1 silver producer). Covers the physical investment cycle (Diwali, Chinese New Year, US tax season) and the industrial / solar PV demand side. Published nightly during trading days.
Copper
NYMEX COMEX copper (HG) futures returns in $/lb, the LME 3-month copper close in $/metric ton (global reference contract), CFTC managed-money positioning with 5-year crowdedness percentile, LME warehouse stocks (live + cancelled warrants with tightness ratio), and the ICSG monthly refined copper balance (world supply vs demand). Covers the Chile Codelco + Peru + Chinese demand complex. Dr. Copper as global industrial-cycle canary. Published nightly during trading days.
Platinum
NYMEX platinum (PL) futures returns in $/oz, the LBMA PM platinum fix (London global reference), CFTC managed-money positioning with 5-year crowdedness percentile, and the Shanghai Gold Exchange platinum fix (Chinese jewelry demand barometer). Covers the South Africa producer complex (Anglo Plat + Impala + Sibanye + Northam), auto-catalyst diesel demand, China jewelry demand, and the emerging hydrogen fuel-cell cycle. Published nightly during trading days.
Palladium
NYMEX palladium (PA) futures returns in $/oz, the LBMA PM palladium fix (London global reference), CFTC managed-money positioning with 5-year crowdedness percentile, and Nornickel quarterly Russian producer disclosure. Covers the Russia + South Africa supply complex, gasoline auto-catalyst demand (~80% of PA use), EV displacement curve, and sanctions-ratchet risk. Published nightly during trading days.
US Dollar Index
ICE US Dollar Index (DX) front-month futures returns, the FRED broad trade-weighted dollar daily index, CFTC USDX managed-money positioning with 5-year crowdedness percentile, and the 2Y + 10Y Treasury yield backdrop that drives dollar direction. Covers the DXY basket (EUR 57.6%, JPY 13.6%, GBP 11.9%, CAD 9.1%, SEK 4.2%, CHF 3.6%), rate-differential mechanics, and ECB/BoJ/BoE calendar cross-reads. Published nightly during trading days.
10-Year Note & 30-Year Bond
CBOT 10-Year T-Note (TY) and 30-Year T-Bond (US) front-month futures returns, the FRED 2Y / 10Y / 30Y constant-maturity yield curve, 2s10s and 10s30s slope, and CFTC managed-money positioning for both benchmarks with 5-year crowdedness percentile. Covers the FOMC rate path, Treasury auction calendar, QT runoff pace, and foreign central-bank flows. Published nightly during trading days.
S&P 500 & Nasdaq-100
CME E-mini S&P 500 (ES) and Nasdaq-100 (NQ) front-month futures returns, the VIX index level with intraday range and 60-day percentile, and CFTC managed-money positioning across SP500, Nasdaq, and VIX with 5-year crowdedness percentile. SP500-vs-Nasdaq net divergence is the primary spec-positioning signal when it stretches. Covers earnings season, FOMC rate decisions, CPI + NFP data, and vol-of-vol regime shifts. Published nightly during trading days.