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Money Managers Raise Bets on Higher London Cocoa by 5.8%

June 18 (Bloomberg) -- Money managers raised bets on higher cocoa prices in London by 5.8 percent in the week ended June 12, according to NYSE Liffe, the derivatives arm of NYSE Euronext.

Net-long positions, or bets on rising prices, came to 27,598 futures and options contracts as of June 12, the commitments of traders report published on the exchange’s website today showed. That compares with a net-long position of 26,095 lots a week earlier. Cocoa rose 6.9 percent in the week.

In robusta coffee, money managers lowered their net-long position by 16 percent to 20,106 contracts, the data show. That compares with 23,992 futures and options a week earlier. The beans slid 4.4 percent in the period.

White, or refined, sugar money managers switched to betting on higher prices. Net-long positions came to 1,006 futures and options from a net-short position, or bets on declining prices, of 688 contracts a week earlier. The sweetener rose 4.8 percent in the period.

Money managers were net-long in feed wheat by 105 contracts from 103 futures and options a week earlier, according to the data. The grain climbed 1 percent in the week.

NYSE Euronext is 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

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