Monday, October 5, 2009

Open Interest Surge Signals Peak as Traders See Slump

By Millie Munshi

Oct. 5 (Bloomberg) -- Investors are snapping up commodities at the fastest pace in 18 months just as stockpiles of raw materials rise and shipping rates plunge, signaling that prices may be poised to fall. Open interest, or contracts yet to be closed, liquidated or delivered, rose 6.6 percent in the third quarter for the 20 most-traded U.S. commodities, exchange data compiled by Bloomberg show. That’s the steepest gain since the first three months of 2008, just before the credit-market freeze sent prices plunging from records.

http://www.bloomberg.com/apps/news?pid=20601087&sid=afXA0T_IU_3Y

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