Money Managers Boost Bullish Bets on Robusta Coffee by 8.4%Isis Almeida
Money managers boosted bets on rising prices of robusta coffee traded in London by 8.4 percent, according to NYSE Liffe, the derivatives arm of NYSE Euronext.
The net-long position, a wager on a higher market, rose to 28,115 futures and options contracts in the week ended March 12, the Commitments of Traders report published today on the exchange’s website showed. That’s up from 25,941 lots a week earlier and the first increase in three weeks. The beans used in espresso gained 5.6 percent in the period.
In cocoa, money managers cut their net-long position to 10,585 contracts from 11,406 a week earlier, the figures showed. The chocolate ingredient rose 5.3 percent in the period.
Money managers’ net-short position, or bet on lower prices, in white, or refined, sugar fell to 7,266 contracts from 11,329 a week earlier. The sweetener gained 3.5 percent in the period.
In feed wheat, money managers increased their net-short position to 368 contracts from 367 a week earlier. The grain fell 3.2 percent in the period.