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Funds Reduce Bets on Rising Food Costs to Lowest in 27 Months: Commodities

Bloomberg – Hedge funds cut bullish bets on agricultural prices to the lowest level in more than two years on signs of expanding global supplies.

A measure of speculative positions across 11 products from wheat to coffee to cattle fell 3.6 percent to 258,071 futures and options in the week ended Dec. 6, Commodity Futures Trading Commission data show. That’s the lowest since September 2009. Bullish wagers on corn fell 11 percent to a 17-month low, and bearish ones on cocoa increased for a fourth week.

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