(Agrimoney) Commentators flagged the potential for grain and soy price gains after hedge funds were revealed to have covered fewer of their short bets than expected – at a time of growing worries over the dent to North American crop prospects from poor weather. Managed money, a proxy for speculators, in the week to last Tuesday returned to a bearish shift in positioning on the top 13 US-traded agricultural commodities, lifting their net short by nearly 9,000 lots to 163,141 contracts, analysis of regulatory data shows.
Hedge Fund Reticence to Cover Shorts in Grains ‘Bodes Well For Price Rises’
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