Hedge Funds Shy Away From Commodities

Apr 9 2013 | 10:08am ET

Hedge funds pulled back from the commodities markets at the end of last month, cutting their positions by more than in any week since the financial crisis.

Net-long positions on 18 U.S. futures and options fell 31% in the week ended April 2, the Commodity Futures Trading Commission said. That is the largest one-week drop since October 2008.

Investors took bearish positions in silver to match those in copper and sugar, while corn futures holdings fell the most in almost three years, causing the largest-ever drop in agricultural holdings. Copper shorts stood at their highest level since 2006, and speculative bets on 11 agricultural products fell 67%, the biggest drop since 2006.


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