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Commodity CFTC: Hedge funds reduce net longs to lowest in 9 week

Hedge funds and other large speculative investors reduced their net long exposure to the 24 US traded commodities we track in this report for the fourth week in a row. The net exposure was reduced by 5 percent during the week ending April 17. This was the lowest exposure in eight weeks and primarily due to continued worries about the European debt crisis and the Chinese slowdown which could reduce global growth and curb demand for raw materials.

The agriculture sector saw the biggest reductions with softs down 28 percent followed by grains (-6 percent) and meats (-5 percent). Energy and and metals both saw a small net increase in exposure.


Ole Hansen,

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