(Agrimoney) Hedge funds’ renewed pessimism over ag commodity prices took them net bearish on the sector for the first time in more than a year – raising ideas they may be vulnerable to losses should hiccups beset the spring sowings season.
Managed money, a proxy for speculators, in the week to last Tuesday opened up a net short position of 29,419 contracts in futures and options in the top 13 US-traded agricultural commodities, from corn to sugar, analysis of data from the Commodity Futures Trading Commission regulator shows.