|Tues 29th November 2016|
|Hedge funds favour grains to soft commodities - but will it last?|
Hedge funds, despite lifting bullish bets on cotton to a three-year, favoured grains to soft commodities so much so that many investors saw scope for fresh selling in the likes of corn.
Managed money, a proxy for speculators, lifted its net long position in futures and options in the top 13 US-traded agricultural commodities, from corn to sugar, by 55,896 contracts in the week to last Tuesday, analysis of data from the Commodity Futures Trading Commission regulator shows.
The rise in the net long - the extent to which long bets, which profit when values rise, exceed short holdings, which benefit when prices fall reflected improved sentiment towards grains and livestock contracts.
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