Money Managers Boost Bets on Higher Cocoa Prices by 6.4%

Money managers increased bets on rising prices of cocoa traded in London by 6.4 percent in the week ended Nov. 6, according to data from NYSE Liffe, the derivatives arm of NYSE Euronext.

Net-long positions, or bets on higher prices, climbed to 45,025 futures and options, the commitments of traders report published today on the exchange’s website showed. That compares with 42,310 contracts a week earlier. Cocoa advanced 2.9 percent in the period.

In robusta coffee, money managers reduced their net-long to 3,125 futures and options from 3,876 contracts a week earlier, according to the data. The beans slid 3.2 percent in the period.

The net-long position in white, or refined, sugar held by money managers fell to 2,076 futures and options from 2,678 contracts a week earlier, the data showed. The sweetener slid 0.4 percent in the period.

Money managers held no position in feed wheat, unchanged from a week earlier. The grain rose 3.8 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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