Bloomberg News

Money Managers Cut Bets on Lower London Cocoa Prices By 55%

December 12, 2011

(Updates with robusta coffee in third paragraph.)

Dec. 12 (Bloomberg) -- Money managers reduced their net- short position, or bets on lower prices, on cocoa traded in London by 55 percent in the week ended Dec. 6, data from NYSE Liffe, the derivatives arm of NYSE Euronext, showed.

Net-short positions fell to 2,695 from 5,995 futures a week earlier, according to the weekly commitments of traders report published on the exchange’s website today. Prices dropped 3.6 percent over the same period.

Money managers reduced robusta coffee net-short positions by 12 percent in the period. Net-short positions fell to 6,263 contracts from 7,083 futures a week earlier, exchange data show. Prices rose 3.1 percent over the same period.

In white, or refined sugar, money managers were net long, or betting on higher prices, by 799 contracts, the data show. That compares with 801 futures a week earlier. Prices for the sweetener rose 3.5 percent in the same period. Money managers reduced bets on higher prices for a fourth consecutive week.

In feed wheat, money managers decreased their net-short position to 216 futures, from 306 the previous week. Money managers have been net-short feed wheat for 12 consecutive weeks. Feed wheat prices fell 1 percent in the period.

--Editors: John Deane, Sharon Lindores

To contact the reporter on this story: Isis Almeida in London at ialmeida3@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


Coke's Big Fat Problem
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus