U.S. Commodity Market Falls By $21B

U.S. commodity markets’ positions fell by $21 billion during the week to August 9,The Telegraphreports. As per the calculations based on the U.S.Commodity Futures Trading Commission’s weekly Commitment of Traders report, managed-money funds, such as hedge funds and proprietary traders lowered their overall net long holdings in 21 commodities by around $15 billion.

The total value of long positions reached $93 billion during the period. In the biggest seven-day sell-off, traders offloaded $6 billion of bullish bets on the market. Soybeans saw the second-biggest liquidation with $3 billion of net selling by funds.

Click here for the story fromThe Telegraph.