Futures positions and changes made by hedge funds across commodities, forex, bonds, and stock indices up until last Tuesday, May 18. A relatively quiet week ahead of Wednesday’s crypto collapse and FOMC minutes saw stocks, bonds, and the dollar trade softer, while the biggest changes were seen across the commodities sector where the month-long synchronized rally increasingly showed signs of running out of steam.

The Bloomberg Commodity index dropped 0.7% on the week as an emerging correction across agriculture commodities, led by soybeans and corn off-set gains in energy and precious metals. In response to these developments, hedge funds cut bullish commodity bets for a second week with the total net long across 24 futures contracts falling by 4% to a four-week low at 2.4 million lots.

Broad selling across all sectors except precious metals was led by corn, (25.3k lots), soybeans (25.2k), Sugar (20.8k) and crude oil (22.2k) with most of the buying concentrated in gold (11.3k) and natural gas (12.1k).

Futures positions and changes made by hedge funds across commodities, forex, bonds, and stock indices up until last Tuesday, May 18. A relatively quiet week ahead of Wednesday’s crypto collapse and FOMC minutes saw stocks, bonds, and the dollar trade softer, while the biggest changes were seen across the commodities sector where the month-long synchronized rally increasingly showed signs of running out of steam.

The Bloomberg Commodity index dropped 0.7% on the week as an emerging correction across agriculture commodities, led by soybeans and corn off-set gains in energy and precious metals. In response to these developments, hedge funds cut bullish commodity bets for a second week with the total net long across 24 futures contracts falling by 4% to a four-week low at 2.4 million lots.

Broad selling across all sectors except precious metals was led by corn, (25.3k lots), soybeans (25.2k), Sugar (20.8k) and crude oil (22.2k) with most of the buying concentrated in gold (11.3k) and natural gas (12.1k).