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Money Managers Raise Bets on Higher Cocoa Prices by 23%

May 14 (Bloomberg) -- Money managers increased bets on higher London cocoa prices by 23 percent in the week ended May 8, according to NYSE Liffe, the derivatives arm of NYSE Euronext.

Net-long positions, or bets on higher prices, came to 27,837 futures and options, according to the weekly commitment of traders report published on the exchange’s website today. That compares with 22,596 contracts a week earlier, the data show. Cocoa climbed 0.3 percent in the period.

NYSE Liffe has recalculated data in the commitment of traders reports after deciding some traders should be included in the producer category, the exchange said on May 7.

In robusta coffee, money managers increased bets on higher prices to 10,874 contracts, the data show. That compares to 8,210 futures and options a week earlier. The beans rose 3 percent in the period.

White, or refined, sugar money managers, reduced their net-long positions by 42 percent to 2,624 futures and options, according to the exchange. That compares with a net-long position of 4,553 contracts a week earlier. White sugar declined 2.2 percent in the period.

Money managers held no positions in feed wheat, unchanged from last week, according to the NYSE Liffe report. Feed wheat fell 1.1 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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