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Money Managers Switch to Betting on Lower White-Sugar Prices

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June 11 (Bloomberg) -- Money managers switched to betting on lower prices for white sugar traded in London from wagering on a gain, according to NYSE Liffe.

Net-short positions, or bets on a decline, came to 688 futures and options contracts in the week of May 5, the Commitments of Traders report published on the exchange’s website today showed. That compared with a net-long position of 39 lots a week earlier, according to the data. White, or refined, sugar fell 0.5 percent in the week.

In robusta coffee, money managers lowered the net-long position by 3.2 percent to 23,992 contracts from 24,774 futures and options a week earlier. The beans slid 3.7 percent in the period.

Cocoa money managers boosted their net-long position to 26,095 futures and options, an increase of 5.8 percent from the week-earlier 24,675 contracts, the data showed. Cocoa fell 1.6 percent in the period.

Money managers were net-long in feed wheat by 103 contracts, according to the data. They held no positions a week earlier. The grain fell 1.7 percent in the week.

NYSE Liffe is the derivatives arm of NYSE Euronext, the biggest U.S. exchange owner.

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