Speculative fund positioning on Euronext futures contracts — a market sentiment signal updated each week, freely available. · Report of 10 July 2026
Soft Wheat EBM shows a favourable fund/commercial divergence. Signal active over 4–8 weeks.
Z-Score, 4-week momentum, raw fund/commercial positions and full positioning history.
Access full analysis →Source: Euronext COT · Weekly data
The Euronext COT report (Commitment of Traders) tracks weekly net positions of speculative funds on soft wheat EBM, corn EMA and rapeseed ECO. It is published every Wednesday evening by Euronext. Two indicators help read the report. The Z-score measures the gap between current fund positions and their 3-year historical average, expressed in standard deviations. The NPI (Net Position Index) places the current position within its 0-100% historical range. An NPI above 70% with negative momentum (declining positions over 4 weeks) signals reversal risk: funds are over-bought and starting to unwind. An NPI below 30% indicates historically low positioning, often a precursor to a price recovery.