Hedge, index fund corn speculation down by half since February

In Illinois, analysis of non-commercial investors in corn, revealed that speculators, hedge funds and index funds held 484,000 long positions in corn in February 2008, equivalent to 2.42 billion bushels of corn, dropping to 240,000 as of October. The Guardian concluded that “Heavy demand for corn from ethanol makers was seen as a key driver of corn futures to record highs in June, but since then the sharp decline of corn along with other commodities shows that belief was mistaken.”

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