Hedge funds beat a retreat on positions in commoditiesHedge funds reduced their bets on a commodity rally by the most since 2008 as rising supplies of everything from copper to sugar and slowing U.S. growth drove prices to their biggest slump in six months.
Speculators cut net-long positions across 18 U.S. futures and options by 31 percent to 468,780 contracts in the week ended April 2, the most since October 2008, U.S. Commodity Futures Trading Commission data show. Investors are betting on a decline in silver for the first time and have record bearish positions in copper and sugar. Corn wagers dropped the most since June 2010, leading the biggest-ever decline in agricultural holdings. Bloomberg
More in Industry
[SHORTCUT] Is 2021 the year electric vehicles go mainstream?
Lobby groups call for leniency for Samsung's Lee
Thousands claim fraud after buying items via social media
No dial tone for 2G services on LG U+ starting in June
Ironing out an air corridor took decades