(Bloomberg) — Hedge funds plowed money into bets that the commodities rally of 2021 still has further to run, snapping three straight weeks of reductions.
Net-long positions on a basket of 20 commodities rose by 8.3% in the week ended Tuesday, according to U.S. Commodity Futures Trade Commission data compiled by Bloomberg. Investors added wagers on further price gains for raw materials including crude oil, natural gas, corn and copper, while cutting those for platinum and soybeans.
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