Money Managers Raise Bets on Higher London Cocoa by 5.7%

Money managers raised bets on higher prices for cocoa traded in London by 5.7 percent in the latest week, according to NYSE Liffe, the derivatives arm of NYSE Euronext.

Net-long positions gained to 53,436 futures and options contracts in the week ended Aug. 7, the commitments of traders report published on the exchange’s website today showed. That compares with the week-earlier 50,574 lots, according to the data. Cocoa rose 2.8 percent in the period. Each contract represents 10 metric tons of the beans used to make chocolate.

In robusta coffee, money managers increased their net-long position to 38,071 futures and options contracts from 33,296 a week earlier. The beans declined 1.7 percent in the period.

The net-long position in white, or refined, sugar held by money managers slipped to 12,577 futures and options contracts from 12,683 a week earlier. The sweetener fell 3 percent in the period.

Money managers’ net-long position in feed wheat was 127 futures and options contracts, little changed from 128 a week earlier. The grain gained 0.5 percent in the period.

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