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Money Managers Cut Bets on Higher Robusta Coffee by 18%

Aug. 28 (Bloomberg) -- Money managers reduced bets on rising prices for robusta coffee traded in London by 18 percent in the week ended Aug. 21, according to NYSE Liffe, the derivatives arm of NYSE Euronext.

Net-long positions, or bets on rising prices, fell to 27,237 futures and options, the commitments of traders report published today on the exchange’s website showed. That compares with 33,303 contracts a week earlier. Robusta coffee advanced 0.8 percent in the period.

In cocoa, money managers cut their net-long position to 54,348 futures and options from a record 55,001 contracts a week earlier, exchange data showed. The chocolate ingredient slid 2.4 percent in the period.

The net-long position in white, or refined, sugar held by money managers slipped to 8,153 futures and options from 10,377 a week earlier, the data showed. The sweetener fell 4.3 percent in the period.

Money managers’ net-long position in feed wheat was 125 futures and options contracts, from 124 a week earlier. The grain gained 5.9 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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