Money managers cut bullish wagers in robusta coffee traded in London for the first time in four weeks after bets on rising prices reached a six-month high, according to NYSE Liffe, the derivatives arm of NYSE Euronext.
Net-long positions, or bets on higher prices, fell 8.7 percent to 26,829 futures and options in the week ended Feb. 26, the commitments of traders report published today on the exchange’s website showed. That’s down from 29,379 contracts a week earlier, which was the highest since Aug. 14. The beans used in instant coffee and espresso gained 2.1 percent in the period.
In cocoa, money managers increased their net-long position to 10,780 futures and options, the data showed. That’s up from 9,431 contracts a week earlier, which was the lowest in more than 11 months. The beans used to make chocolate gained 1.2 percent in the period.
Money managers’ net-short positions in sugar, or bets on lower prices, fell to 10,837 contracts from a record 11,564 futures and options a week earlier. The sweetener climbed 2.7 percent in the period.
In feed wheat, money managers increased their net-short position to 366 futures and options from 315 contracts a week earlier. The grain slid 1.7 percent in the period.
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