Speculator Bets on Higher London Coffee at 5-Month HighIsis Almeida
Money managers more than doubled bets on rising prices of robusta coffee traded in London to a five-month high in the week ended Feb. 5, according to data from NYSE Liffe, the derivatives arm of NYSE Euronext.
Investors were net-long, or betting on higher prices, by 19,641 futures and options, the commitments of traders report published today on the exchange’s website showed. That’s the biggest net-long position since Sept. 4 and compares with a net-long of 8,476 lots a week earlier. Robusta coffee gained 6.7 percent in the period.
In cocoa, money managers boosted bets on higher prices by 16 percent. Net-long positions totaled 16,650 futures and options, up from 14,329 lots a week earlier. The beans gained 2 percent in the period.
Money managers’ bets on lower sugar prices dropped by 21 percent, the data showed. Net-short positions were 7,302 futures and options. That compares with 9,192 contracts a week earlier. Sugar gained 3.8 percent in the period.
In feed wheat, money managers increased their net-short position to 278 futures and options from 271 contracts a week earlier. The grain fell 1 percent in the period.
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