(Agrimoney) Funds are likely to be forced into a round of short-covering in grains, putting further upward pressure on futures, after being caught out again by betting on lower prices just ahead of bullish news. Managed money, a proxy for speculators, cut its net short position in futures and options in the top 13 US-traded agricultural commodities, from arabica coffee to live cattle, by 132,124 contracts in the week to last Tuesday, analysis of data from the Commodity Futures Trading Commission regulator shows.
Hedge Funds Wrong-Footed, Again, by Downbeat Grain Bets
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