(Agrimoney.com) Hedge funds reversed, in spades, their trend of placing bullish bets on soft commodities and bearish ones one grains, as Chicago wheat saw a rare buying spree, while sugar suffered its worst selldown in six months.
Managed money, a proxy for speculators, raised by 3,587 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.
