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Money Managers Turn Bearish on London Cocoa, Liffe Shows

(Corrects definition of net-short in second paragraph.)

Feb. 20 (Bloomberg) -- Money managers were betting on lower cocoa prices as of Feb. 14, reversing a bet on higher prices the previous week, according to the NYSE Liffe exchange, the derivatives arm of NYSE Euronext.

Money managers were net-short, or betting on lower prices, by 2,375 futures and options, according to the weekly commitments of traders report published on the exchange’s website today. That compares with a net-long position, or a bet on higher prices, of 1,774 the previous week, the data show. Cocoa climbed 0.5 percent in the period.

In robusta coffee, money managers turned bullish, holding a net-long position of 1,627 contracts, reversing a net-short of 6,873 futures and options the previous week, the data show. Robusta coffee climbed 13 percent in the period.

Money managers increased their net long-position in white sugar futures and options to 9,894 contracts, from 9,034 a week earlier, exchange data show. White, or refined, sugar retreated 1.4 percent in the period.

In feed wheat, money managers held a net-short of 607 contracts, up from 602 contracts on Feb. 7, the data show. The grain slipped 3.2 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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