Funds have cut bullish bets on commodity prices on speculation that sluggish global growth will reduce demand for metals, energy and grains, Bloomberg reports. The net-long positions in 18 U.S. commodities decreased by 15% to 958,309 futures and options contracts in the week ended June 28.

Soybean meal holdings were cut by 67%, while bets on silver were reduced by 26%. Commodity contracts holdings are the lowest since July 13, 2010, following the positions cut.

Click here for the story from Bloomberg.