Hedge funds and money managers returned to commodities last week, according to Saxo Bank. As of November 20 they increased their net long positions in the 24 commodity futures tracked in this report by 5.2 percent to 1,394,000 contracts. This was the first proper increase in net long positioning in six weeks and comes at a time where some positive momentum seems to have returned to a sector which, apart from grains, has struggled to perform for the most of 2012.
The main recipients of this inflow was the energy secter, which increased by USD 3.1 billion in value followed by metals which saw an increase of USD 2.5 billion. Grains were under pressure during the week, with the soybean sector in particular bearing the brunt of long liquidation, something which has now opened the possibility of a recovery as longs have been much reduced.
By Ole S. Hansen
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Hedge Funds, Money Managers Return To Commodities
Published 11/28/2012, 03:32 AM
Hedge Funds, Money Managers Return To Commodities
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