Hedge Funds Keep Cutting Bullish Wagers on Commodities
- Hedge funds reduce long bets on crops to copper to natural gas
- Future rallies could be driven less by speculative buying
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The latest sign that commodities prices may have reached a peak: Hedge funds have pulled their money out of the markets for three straight weeks.
Investors are cutting their bullish bets on everything from crops to copper to natural gas. Hedge-fund holdings this week in 20 of the 23 commodities tracked in the Bloomberg Commodity Index fell by the most since November, according to data from the U.S. Commodity Futures Trading Commission and ICE.