View Full Version : Speculators bet that crop prices hit new record

Got Goldies
11-08-2010, 08:34 AM
Speculators' bets on rising crop prices hit record
The level of bets by speculators on farm commodity futures has hit a record high - even before last week's announcement of a $600bn injection into the US economy prompted a fresh spate of buying.

The amount of crop covered by speculators' investments has hit a record top, as measured by their interest in open farm commodity futures and options on US agricultural futures markets.

And most of this exposure was to further rises in crop prices, with speculators' net long position that is, subtracting short bets, which profit when values fall - accounting for 103m tonnes of crop, according to Australian & New Zealand Bank calculations.

'New record expected'


The speculators are running the show.

11-08-2010, 10:13 AM
Farmers around here have money to burn. I suspect John Deere will be selling a lot of new equipment. The farmers need to buy stuff, dump money into IRAs or pay taxes on their earnings.