Oil slump leads to fast investor exit from weakened commodities

New York

INVESTORS are exiting commodities at the fastest pace in six years, betting a slump in prices isn't over as corn, oil and gold drop close to their cost of production.

Open interest in raw-material futures and options is down 5.9 per cent since June, heading for the biggest second-half slump since 2008, exchange data show. US exchange-traded products (ETPs) tracking metals, energy and agriculture saw net withdrawals of US$563.9 million in 2014, marking the first two-year slump since the funds were created a decade ago.