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Money Managers Boost Bets on Higher White Sugar Price by 53%

July 2 (Bloomberg) -- Money managers boosted bets on higher prices of white, or refined, sugar traded in London by 53 percent in the week ended June 26, according to NYSE Liffe, the derivatives arm of NYSE Euronext.

Net-long positions, or bets on higher prices, rose to 3,516 futures and options, the commitments of traders report published on the exchange’s website today showed. That compares with 2,300 contracts a week earlier, according to the data. White sugar fell 3.3 percent in the period.

In cocoa, money managers increased their net-long position to 30,686 futures and options from 30,552 contracts a week earlier, the data showed. Cocoa fell 5.2 percent in the period.

Money managers trimmed their net-long position in robusta coffee to 17,575 contracts, the data show. That compares with 20,443 futures and options a week earlier. The beans slid 1 percent in the period.

In feed wheat, money managers were net-long by 119 contracts compared with 111 futures and options a week earlier, according to the data. The grain climbed 6.4 percent over the five sessions.

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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