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Money Managers Reduce Wagers on Rising London Cocoa by 10%

Money managers cut bets on rising cocoa prices in London by 10 percent in the week ended Oct. 9, according to NYSE Liffe, the derivatives arm of NYSE Euronext.

Net-long positions, or bets on higher prices, fell to 43,021 futures and options, the commitments of traders report published today on the exchange’s website showed. That compares with 48,004 contracts a week earlier. Cocoa retreated 1.8 percent in the period.

In robusta coffee, net-long positions climbed to 16,406 futures and options from 13,390 contracts a week earlier, the data showed. The beans slid 6.1 percent in the period.

The net-long position in white, or refined, sugar held by money managers rose to 11,696 futures and options from 6,843 contracts a week earlier, the data showed. The sweetener slipped 0.2 percent in the period.

Money managers held no position in feed wheat, unchanged from a week earlier. The grain rose 0.9 percent in the period.

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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