Adds particulars for espresso, cotton and cocoa
NEW YORK, Might 7 (Reuters) – Speculators lower their internet lengthy positions in uncooked sugar and cotton futures on ICE within the week to Might 4, and switched from lengthy to brief place in cocoa, information from the U.S. Commodity Futures Buying and selling Fee confirmed on Friday.
Cash managers and hedge funds lowered their bullish bets in uncooked sugar by 10,128 contracts for the interval, however they nonetheless maintain a big internet lengthy place within the sweetener at 180,286 contracts.
The outlook for sugar remains to be seen as optimistic by most analysts as near-term provides seem restricted.SOF/L
The lower for cotton futures was smaller at 3,138 contracts and funds’ internet lengthy place within the fiber is now at 58,731 contracts.
The one delicate commodity to see a rise in lengthy place was arabica espresso, with cash managers now holding a bullish wager of 33,869 contracts. Espresso futures hit a four-year excessive on Thursday.KCc2
And speculators switched to a brief place of 8,714 contracts in New York cocoa futures, chopping 16,584 contracts within the week to Might 4, the CFTC mentioned.
(Reporting by Marcelo Teixeira; Enhancing by Leslie Adler and Diane Craft)
(([email protected]; +1 332 220 8062; Reuters Messaging: [email protected] – https://twitter.com/tx_marcelo))
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