RFS rumors squeezed hedge funds and forced them to short the market across ags

In Illinois, US President Trump’s alleged deal making to reform the Renewable Fuel Standard got commodities markets moving last week that in turn squeezed hedge funds into a place they weren’t happy to be in. Funds cut their net longs in agricultural futures by nearly 123,000 contracts during the last week of February. Though selling was seen in cocoa and sugar, the big push came at the end in grains that traders linked to statements about the RFS.