Here is the latest data from the CFTC. All figures are in thousands of futures contracts.
As you can see, index funds are long 477,000 contracts of WTI crude. That's the equivalent of 477 million barrels. The U.S. consumes about 18.6 million barrels per day, so index funds hold about an entire month's worth of consumption. They're just sitting on it. You wonder why prices are going up?
Look at corn, it's even more unbelievable.
Index funds hold 2 billion bushels of corn! That equals about 60 million tons or nearly HALF THE CURRENT 145 MILLION TON GLOBAL STOCKS OF CORN!!
And you wonder why prices are going up?