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Hedge-fund bets jump to 15-month high on bull rally

Business Standard – Hedge funds boosted bets on rising commodities to the highest in 15 months, driving prices into a bull market as the US drought worsened and the Federal Reserve signaled it may take more steps to spur economic growth.

Money managers’ net-long position across 18 US raw materials rose 10 per cent to 1.32 million futures and options in the week ended August 21, US Commodity Futures Trading Commission data show. Holdings doubled in two months to the highest since May 2011. Bets on corn are the most bullish in 15 months amid the worst US drought in 56 years, while wagers on gold rebounded and platinum more than doubled.

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