Money Managers Boost Bets On Higher Robusta Coffee By 37%

Money managers boosted bets on higher robusta coffee prices traded in London by 37 percent in the week ended July 24, according to NYSE Liffe, the derivatives arm of NYSE Euronext.

Net-long positions, or bets on higher prices, rose to 27,993 futures and options, the commitments of traders report published on the exchange’s website today showed. That compares with 20,380 contracts a week earlier, according to the data. Robusta coffee rose 3.6 percent in the period.

In cocoa, money managers increased their net-long position to 45,665 futures and options, up from 42,280 contracts a week earlier. Cocoa climbed 2.1 percent in the period.

Money managers also boosted bets on higher prices of white, or refined, sugar. Net-long positions came to 12,687 contracts, compared with 10,070 contracts a week earlier. White sugar climbed 3.3 percent in the period.

In feed wheat, money mangers held a net-long position of 134 contracts, unchanged from the previous week. The grain fell 6.1 percent in the period.

Source: Bloomberg