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Money Managers Extend Record Bets on Higher London Cocoa

Aug. 20 (Bloomberg) -- Money managers boosted bets on rising prices for cocoa traded in London to a record in the week ended Aug. 14, according to NYSE Liffe, the derivatives arm of NYSE Euronext.

Net-long positions gained to 55,001 futures and options, the highest since the data started last year, the commitments of traders report published on the exchange’s website today showed. That compares with the week-earlier 53,436 contracts. Cocoa declined 0.5 percent in the period.

In robusta coffee, money managers cut their net-long position by 13 percent to 33,303 futures and options contracts from 38,071 a week earlier, according to the exchange. The beans declined 4.8 percent in the period.

The net-long position in white, or refined, sugar held by money managers slipped to 10,377 futures and options from 12,577 a week earlier, the data showed. The sweetener fell 4.3 percent in the period.

Money managers’ net-long position in feed wheat was 124 futures and options contracts, from 127 a week earlier. The grain gained 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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