| Agricultural commodity futures may be poised for a wave of support from covering of short bets, after a selldown by hedge funds left them, by a distance, with their most bearish ever positioning. Managed money, a proxy for speculators, dropped long positions on agricultural commodities by more than 40,000 lots in the week to last Tuesday, while hiking short bets – which profit when prices fall - by some 110,000 contracts, regulatory data show.
The resulting swing net short in positioning by 151,826 contracts was the largest in nearly two years. And it drove the overall position into a net short – the extent to which short holdings exceed long ones - of 102,126 lots, by far the biggest on Commodity Futures Trading Commission data going back to 2006...............................................Full Article: Source
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