Open interest in ICE soft commodities climbs to multi-year highs
NEW YORK Feb 7 (Reuters) - Open interest in raw sugar, cotton and arabica coffee markets trading on ICE Futures U.S. continued to rise steadily, reaching the highest levels in up to three years on Feb. 6, exchange data showed on Thursday.
Total open interest in raw sugar futures jumped by 0.9 percent to 848,677 contracts on Feb. 6, the highest level in three years, ICE data showed.
In cotton futures , open interest climbed for the eighth straight day in the previous session, rising by 1,429 contracts to 214,167 contracts, the highest since February 2011.
Arabica coffee open interest rose for the fourth straight day on Wednesday, rising by 1,827 lots to reach 164,601 lots, the highest since August 2010, ICE data showed.
Open interest in cocoa futures recently hit a record high exceeding 210,000 lots on Jan. 30, but have since declined by nearly 4 percent, reaching 202,554 lots on Feb. 6.
The small frozen concentrated orange juice futures market was the odd one out on the softs complex, with open interest inching down by 109 lots to 21,059 lots in the previous session, up nearly 5 percent from the nine-month low reached on Jan. 24 at 20,118 lots.