Hedge funds fleeing crops amid big supply
Farm market sees volatile trading as prices drop after bumper global harvests
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. Those bountiful supplies prompted money managers to lower their bets on higher prices for a fifth straight week, US government data show.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
Barclays is the latest firm to face anti-ESG wrath in Oklahoma
Barclays prices mortgage-backed notes in deal with GoldenTree
TD risks an earnings hit from US laundering probe, analysts say