15.09.2014 - Hedge Funds Cut Bullish Crop Bets to Lowest Since January
Hedge funds cut bullish wagers on agricultural commodities to the lowest since January before the U.S. forecast rising grain supplies and sent wheat, corn and soybean prices to four-year lows. Money managers lowered their net-long position on crops from coffee to wheat in 10 of the past 11 weeks, U.S. government data show. Investors got more bearish on sugar and have the most-negative outlook on soybeans since 2006. American farmers will collect the biggest corn and soybean crops ever this season, while global wheat reserves are set to reach a three-year high, the U.S. Department of Agriculture said Sept. 11. Three months of rain and mild weather created almost ideal growing conditions, spurring price declines that drove the Bloomberg Commodity Index to a five-year low last week...............................................Full Article: Source
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