Hedge funds are the most bearish on commodities prices in at least 13 years as fears of a deeper economic slowdown cast doubts on demand for everything from crude oil to metals and grains.
Money managers piled a combined net-short position of almost 153,000 futures and options across 20 raw-material markets in the week ended Tuesday, according to US Commodity Futures Trade Commission data compiled by Bloomberg. That’s the most on record, based on figures going back to 2011.