| Hedge funds cut bullish wagers on agricultural commodities at the fastest pace since August 2013 as expanding grain supplies help keep a lid on global food inflation. Money managers lowered their net-long position on crops from corn to sugar for a fifth straight week, U.S. government data show. Investors got more bearish on wheat and have the smallest wager on a coffee rally in a year.
The U.S. government will probably increase its forecasts for global corn and wheat inventories in a report Tuesday, analysts surveyed by Bloomberg News said. World grain production in the season that began July 1 will rise to the biggest ever, the United Nations’ Food & Agriculture Organization said Feb. 5. The agency’s measure of food prices fell in January to the lowest level since 2010...............................................Full Article: Source
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