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Hedge fund positioning data showed a 2.2% drop in the Bloomberg Commodity Index in the week to June 22 after the hawkish FOMC, with metals and grains leading losses. Speculative bullish bets on commodities fell by the largest amount in four weeks, and the speculative dollar short was cut by about a third.
Fund liquidation in grains after the dollar rally adds selling pressure to corn and soybean futures, though the positioning data reflects sentiment more than physical supply.
home.saxoOle HansenJun 14, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
