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Money Managers Increase Bets 136% on Higher Cocoa Price

April 30 (Bloomberg) -- Money managers more than doubled bets on higher London cocoa prices in the week ended April 24, according to NYSE Liffe, the derivatives arm of NYSE Euronext.

Net-long positions, or bets on higher prices, came to 6,990 futures and options, according to the weekly commitment of traders report published on the exchange’s website today. That compares with 2,959 contracts a week earlier. Cocoa climbed 1.3 percent in the period. Net-long positions rose for a second week, according to the data.

Robusta coffee money managers increased their net-long position by 38 percent to 13,367 futures and options, according to the data. That compares with 9,714 contracts a week earlier. Robusta coffee advanced 1.7 percent in the period.

In white, or refined, sugar, money managers trimmed bets on higher prices to 8,466 futures and options, the data show. That compares with a net-long position of 8,833 contracts a week earlier. White sugar declined 2.4 percent in the period.

In feed wheat, money managers decreased their net-short position, or bets on lower prices, to 757 futures and options as of April 24 from 897 contracts a week earlier, the data show. Feed wheat fell 0.5 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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