AgriMoney – Hedge fund optimism in agricultural commodity prices, as measured by positioning in derivatives, plunged at its fastest rate in 20 months, led by a surge in pessimism over values of wheat and sugar, in which bearish bets hit a record high.
Managed money, a proxy for speculators, slashed by nearly 130,000 contracts its net long position in futures and options in the main 13 US-traded agricultural commodities in the week to last Tuesday, according to data from the Commodity Futures Trading Commission (CFTC) regulator.
