Merchant consolidates spring commodity gains


With a gain of 4.54% in May, it was another solid month for the Merchant Commodity Fund after an even better April, thanks to favourable market conditions in the commodities and energy sectors.

A drought in South America, delayed spring planting in the US and increased imports from China lifted the prices within the soybean complex and this extended to related products such as palm oil, rapeseed and rapeseed oil, explains Aisling Analytics' Mike Coleman.

The fund was also long sugar, benefiting from an upward move in prices in anticipation of an expected tightening in the supply and