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Tuesday, July 10, 2012

Hedge funds plow most into commods in 2 years as third quarter

Commodity Futures Trading Commission
Commodity Futures Trading Commission (Photo credit: Wikipedia)
Hedge funds and other big commodity investors pumped a notional $13 billion into U.S. energy, grains and metals markets in the week to July 3, the biggest influx in at least two years, after a debt deal in Europe sparked a buying frenzy across the sector. Led by surges in soybean, corn, gold and oil positions, the funds, known by the regulatory moniker "managed money", increased their bullish net long positions to above $77 billion for the week to July 3, according to Reuters calculations based on the U.S. Commodity Futures Trading Commission's weekly data. Reuters data shows it was the biggest weekly increase in net longs since at least 2010. Just five weeks ago, net longs held by hedge funds and other money managers in commodities were at their lowest levels for this year at $56 billion. The 19-commodity Thomson Reuters-Jefferies CRB index surged 7.3 percent during the week to July 3, the biggest five-day rally since August 2009. ... Continue to read.
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