(Agrimoney) Hedge funds called time on boosting bets on rising soft commodity prices, bringing to an end their longest bullish streak in nine years, even as they accelerated their pace of selling in grains too.
Managed money, a proxy for speculators, cut by more than 112,000 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.
