AgriMoney – Hedge funds took a break from extending bearish bets on farm commodities for the first time since June, reflecting improved sentiment on soft commodities and livestock – but also on corn, which they appear to be spreading against soybeans.
Managed money, a proxy for speculators, raised its net long position in futures and options in the top 13 US-traded agricultural commodities, from soybeans to sugar, by nearly 29,000 contracts in the week to last Tuesday, the day after the US Labor Day holiday.
