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Money Managers Reduce Cocoa Net Shorts, Liffe Report Shows

Nov. 7 (Bloomberg) -- Money managers reduced their net-short position in cocoa futures in the week ended Nov. 1, data from NYSE Liffe, the derivatives arm of NYSE Euronext, show.

Net-short positions, or bets prices will fall, fell to 3,821 contracts as of Nov. 1 from 5,171 a week earlier, according to the weekly commitments of traders report published on the exchange’s website today. Cocoa slid 2.7 percent on NYSE Liffe in London in the same period.

In robusta coffee, net-short positions rose to 7,477 contracts as of Nov.1, from 6,251 futures the previous week, the data show. Prices rose 0.3 percent from Oct. 25 to Nov. 1

Robusta coffee money managers were net-long, or betting on higher prices, from the start of the reports on Sept. 6 until the week ended Oct. 18, exchange data show.

In white, or refined sugar, money managers decreased their net-long positions by 6.4 percent to 4,874 futures from 5,209 contracts over the week, according to the exchange. White sugar dropped 6.6 percent in the same period.

In feed wheat, money managers increased their net-short position to 655 futures, the most since the reports began on Sept. 6, according to the exchange. Feed wheat prices dropped 2.1 percent over 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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