(Agrimoney) Hedge funds became more bearish on grains than New York-traded soft commodities as concerns waned over dryness damage to corn output – while hurricane worries prompted a surge in betting on cotton price rises. Managed money, a proxy for speculators, expanded its net short position in futures and options in the top 13 US-traded agricultural commodities, from wheat to coffee, by 2,566 contracts in the week to last Tuesday, analysis of data from the Commodity Futures Trading Commission regulator shows.
Hedge Funds Turn More Bearish On Grains Than On Soft Commodities
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