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Money Managers Boost Bets on Rising Robusta Coffee by 22%

Oct. 8 (Bloomberg) -- Money managers boosted bets on rising prices of robusta coffee traded in London by 22 percent in the week ended Oct. 2, according to NYSE Liffe, the derivatives arm of NYSE Euronext.

Net-long positions, or bets on higher prices, rose to 13,390 futures and options, the commitments of traders report published today on the exchange’s website showed. That compares with 10,992 contracts a week earlier. Robusta coffee gained 2.6 percent in the period.

In cocoa, money managers reduced their net-long positions to 48,004 contracts from 50,063 futures and options a week earlier, the data showed. Cocoa slid 0.1 percent in the period.

The net-long position in white, or refined, sugar held by money managers rose to 6,843 futures and options from 6,393 contracts a week earlier, the data showed. The sweetener advanced 2.6 percent in the period.

Money managers held no position in feed wheat, unchanged from a week earlier. The grain slid 2 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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