Money managers reduced bets on rising prices of cocoa traded in London by 31 percent to a seven-month low in the week ended Dec. 31, according to data from NYSE Liffe, the derivatives arm of NYSE Euronext.
Investors were net-long, or betting on higher prices, by 25,640 futures and options, the commitments of traders report published today on the exchange’s website showed. That compares with 37,063 contracts a week earlier. The net-long position is the smallest since May 29, data on Bloomberg showed. Cocoa slid 1.7 percent in the week ended Dec. 31.
In robusta coffee, money managers boosted bets on rising prices by more than fourfold, exchange data showed. Net-long positions rose to 3,805 futures and options from 905 contracts a week earlier. The beans climbed 0.9 percent in the period.
Money managers reduced bets on lower prices of white, or refined, sugar, exchange data showed. Net-short positions were cut to 2,605 futures and options from 2,944 the previous week. The sweetener gained 1.4 percent in the period.
In feed wheat, money managers reduced their net-short position to 332 futures and options from 337 contracts a week earlier. The grain slid 2.5 percent in the period.
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