(Agrimoney.com) Hedge funds took – timely – profits on bets on corn and wheat price falls, but many threw in the towel too early on soft commodities, selling long bets on cocoa and sugar just before price rallies.
Managed money, a proxy for speculators, raised by a modest 6,450 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.
