(Updates with prices in third paragraph.)
Oct. 31 (Bloomberg) -- Money managers were betting on lower robusta coffee prices in London last week, reversing a bet on higher values the previous seven weeks, according to data from NYSE Liffe.
Net-short positions, or bets prices will fall, came to 6,251 contracts as of Oct. 25, data on the exchange’s website today show. That compares to net-long positions, or bets on higher prices, of 2,256 contracts as of Oct. 18, the data show. Money managers have been reducing their net long bets since the reports started on Sept. 6.
Robusta coffee for January delivery fell 2.1 percent from Oct. 18 to Oct. 25 before a bigger harvest in Vietnam, the world’s largest producer of the bitter beans. Output there may be a record 22 million bags, Volcafe, the coffee unit of commodities trader ED&F Man Holdings Ltd., estimates.
In cocoa, money managers increased their net-short position by about 46 percent to 5,171 lots, the data show. Money managers have been net short on cocoa for six weeks in a row. Cocoa prices slid 0.6 percent over the latest week.
In white sugar, money managers increased their net-long positions by 15 percent, or 682 contracts, to 5,209 futures, according to the data. Money managers have been net-long on white sugar since the reports started. White sugar climbed 2.1 percent in the period.
In feed wheat, money managers were net-short 613 contracts, up from 608 contracts the previous week, exchange data show. Feed wheat rose 2.9 percent on the week.
--Editors: Claudia Carpenter, Dan Weeks
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