| Hedge funds' longest run of bullish positioning by agricultural commodities in recent history ended as investors took profits on gains, as well as placing more bets on falling prices. Managed money, a proxy for speculators, cut its net long position in futures and options in the top 13 US-traded agricultural commodities, from cotton to cattle, by nearly 38,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission regulator.
The decline reflected the first week-on-week drop in the net long position – the extent to which long holdings, which profit when prices rise, exceed short positions, which benefit when values fall – since January...............................................Full Article: Source
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