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Money Managers Turned Positive on Robusta Coffee in London

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Dec. 31 (Bloomberg) -- Money managers reversed bets on falling prices of robusta coffee traded in London in the six days ended Dec. 24, according to data from NYSE Liffe, the derivatives arm of NYSE Euronext.

Investors were net-long, or betting on higher prices, by 905 futures and options, a report published today on the exchange’s website showed. That compares with a net-short, or bets on lower prices, by 1,309 contracts in the week ended Dec. 18. The beans climbed 3.5 percent in the period. The exchange was closed on Dec. 25 for Christmas.

In white, or refined, sugar, money managers reduced bets on lower prices by 37 percent, exchange data showed. Net-short positions were cut to 2,944 futures and options from 4,683 the previous week. The sweetener slid 0.8 percent in the period.

Money managers increased their net-long position cocoa to 37,063 futures and options from 36,142 contracts as of Dec. 18, according to NYSE Liffe. The beans used to make chocolate retreated 3.4 percent in the period.

In feed wheat, money managers increased their net-short position to 337 futures and options from 335 contracts a week earlier. The grain slid 0.7 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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