| Funds cut bets on rising prices for wheat, cocoa and other food commodities on easing concern about shortages and on speculation higher costs will curb demand.
Speculators reduced their net-long position in wheat by 54 percent to 11,206 futures and options contracts on the Chicago Board of Trade in the week ended May 17, data from the U.S. Commodity Futures Trading Commission show. The position in cocoa slumped 39 percent, in lean hogs 33 percent, in coffee 31 percent and in soybean oil 15 percent..............................................Full Article: Source
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