Hedge Funds
Commodities had a resurgence in 2016, with the first annual advance since 2010. The gains will continue next year for many of the markets, at least that's what hedge funds are signalling. Money managers boosted their combined net-long position, or bets on prices gains, across 18 commodities by 9.7 per cent in December, government data shows. A year earlier, the funds were net-short, or wagering on declines. Investors last week added to bullish positions in cotton, cattle, crude oil and soybean meal, but aren't optimistic for corn, cocoa and wheat. After five straight years of losses, raw materials rebounded as...