AgriMoney – Hedge funds turned positive on agricultural commodities at the fastest pace in nine months, as the turgid pace of US spring plantings, and fears for winter wheat, prompted them to reassess historically extreme bearish positioning.
The net long position in futures and options in major US-traded agricultural commodities held by managed money, a proxy for speculators, rose by more than 100,000 contracts, above 200,000 contracts, in the week to last Tuesday, according to data from the Commodity Futures Trading Commission, the market regulator.
