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Speculators again hike huge bearish cocoa bet on ICE: CFTC
July 14, 2017 / 7:53 PM / 5 months ago

Speculators again hike huge bearish cocoa bet on ICE: CFTC

NEW YORK (Reuters) - Speculators again upped a record bearish cocoa bet in the week to July 11, as they also raised net short positions in raw sugar and arabica coffee on ICE Futures U.S., U.S. Commodity Futures Trading Commission data showed on Friday.

The dealers reduced a bullish stance in cotton futures and options for the eighth straight week, the data showed.

They upped a net short position in cocoa already at the largest ever, according to records dating back to 2006. They added 1,693 contracts to 52,531 contracts, CFTC said.

The speculators increased a net short position in sugar by 9,829 lots to 112,519 lots, according to the data. The increase brought them to their largest bearish stance in the commodity since April 2015.

They raised a bearish bet in coffee, bringing it back toward a record level from earlier this month, increasing it by 462 contracts to 41,057, CFTC said.

They reduced a bullish stance in cotton by 4,592 lots to 20,821 lots, the data showed. That marked the smallest net long stance in the fiber in over a year.

Reporting by Chris Prentice; editing by Diane Craft and Marguerita Choy

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