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Money Managers Reduce Bets on Rising Cocoa Prices by 8.2%

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Oct. 1 (Bloomberg) -- Money managers reduced bets on rising cocoa prices by 8.2 percent in London in the week ended Sept. 25, according to NYSE Liffe, the derivatives arm of NYSE Euronext.

Net-long positions, or bets on higher prices, fell to 50,063 futures and options, the commitments of traders report published today on the exchange’s website showed. That compares with 54,554 contracts a week earlier. Cocoa slid 2.1 percent in the period.

In robusta coffee, money managers cut their net-long position to 10,992 futures and options from 13,736 contracts a week earlier, exchange data showed. The beans rose 5.9 percent in the period.

The net-long position in white, or refined, sugar held by money managers slipped to 6,393 futures and options from 6,664 a week earlier, the data showed. The sweetener advanced 2.3 percent in the period.

Money managers held no position in feed wheat, unchanged from a week earlier. The grain slid 0.4 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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