Funds profit from crop price falls but miss gold rally

New York

THE turbulence that's rocked commodity markets caused headaches for gold investors, while funds betting on crops were able to get ahead of price declines.

A measure of historical volatility rebounded for the Bloomberg Commodity Index, which tracks returns for 22 components. Turmoil has reigned across raw materials as Brazil's latest political crisis sparked steep declines for the real, raising prospects of increased farm exports. At the same time, deepening controversy over US President Donald Trump's connections with Russia sent investors hunting for haven assets, giving a surprise boost to gold.