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Drinks

Funds Increase Shorts In Sugar, Cocoa; Cut Long Position In Coffee

By Dave Simpson

Speculators increased their net short positions in futures of raw sugar and cocoa on ICE US in the week to 2 August and reduced their bullish bets on arabica coffee, data from the Commodity Futures Trading Commission (CFTC) have shown.

Sugar

Money managers and hedge funds added 23,837 contracts to their bearish bet in raw sugar, boosting their net short position in the sweetener to 67,388 lots.

Cocoa And Coffee

They increased their net short position in cocoa by 7,893 lots to 25,252 contracts, while cutting their long position in arabica coffee by 1,155 contracts to 13,539 lots.

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News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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