Hedge funds have cut their position in petroleum for the second time in three weeks in response to a resurgence of coronavirus infections and the likely postponement of a resumption to airlines’ international passenger flights. Money managers sold the equivalent of 35 million barrels in the six most important petroleum futures and options contracts in .
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FORT COLLINS, Colo. (Reuters) - Speculators’ hugely bullish corn gamble that was set in motion late last year has paid off so far with recent outlooks suggesting global corn supplies could remain tight into 2022. Chicago corn futures last week hit contract highs in nearby and deferred months, further backing that thesis.
A combine harvests winter wheat in Corn, Oklahoma, U.S., June 12, 2019. REUTERS/Nick Oxford/File Photo
But it seems that commodity funds may have found a ceiling on their corn bets, at least for now, because they sold the yellow grain even after the U.S. government revealed farmers’ plans for fewer 2021 acres than expected.
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