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Hedge funds fleeing crops amid big supply

Farm market sees volatile trading as prices drop after bumper global harvests

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The US Department of Agriculture expects combined inventories of corn, soyabeans and wheat to rise for a third year. The Bloomberg Agriculture Index of eight farm products is down 16 per cent this year.

New York

WITH excesses building in everything from cotton to wheat, hedge funds can't seem to get away from crop markets fast enough.

Bumper global harvests and slowing demand will push combined inventories of corn, soyabeans and wheat to a record, according to US government data.