Bloomberg News

Money Managers Cut Bets on Rising London Cocoa Prices By 12%

June 06, 2012

Money-managers reduced wagers on higher cocoa prices in London by 12 percent in the week ended May 29, according to NYSE Liffe.

Net-long positions on higher prices came to 24,675 futures and options, according to the weekly commitment of traders report published on the exchange’s website today. That compares with 28,128 contracts a week earlier, the data show. Cocoa fell 2.4 percent in the period.

In robusta coffee, money managers increased their net-long position by 20 percent to 24,774 contracts, up from 20,606 futures and options a week earlier, the data show. Robusta coffee climbed 1.7 percent over the week.

White, or refined, sugar money managers slashed their net- long positions to 39 futures and options, according to the exchange. That’s down from a net-long of 1,434 contracts a week earlier. White sugar rose 0.2 percent over the five days.

Money managers held no positions in feed wheat, unchanged from last week, according to the data. Feed wheat fell 1 percent at the same time.

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


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