(Agrimoney) December has brought a more bearish streak to hedge funds’ thinking on the agricultural commodity complex – including selling hard wheat “with reckless abandon”, a move which could leave them open to losses.
Managed money, a proxy for speculators, cut its net long position in futures and options in the top 13 US-traded agricultural commodities, from cotton to cattle, by 34,427 contracts in the week to last Tuesday, analysis of data from the Commodity Futures Trading Commission regulator shows.
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