Various hedge funds have increased bullish bets on agricultural commodities as they are concerned that corn and soybean yields in the U.S. may decline, Bloomberg reports. Speculators boosted their net-long positions across 11 agricultural futures and options by 15% to 776,774 contracts in the week through August 23.

Funds became optimistic about wheat for the first time since June as soybeans are expected to rise 64%. As per the U.S. Commodity Futures Trading Commission’s data, funds’ net-long positions in 18 commodities increased by 9% to 1.11 million futures and options contracts. Speculators lowered positions in gold by 7.8% to 201,294 contracts.

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