Speculators cut their net short position in raw sugar on ICE Futures US to a near two-month low in the week ended September 8, and boosted their bearish bets in arabica coffee contracts, US Commodity Futures Trading Commission data showed on Friday. The non-commercial dealers raised their net long position in cocoa and cut their bullish bets in cotton futures and options, the data showed.
The dealers cut their raw sugar net short for the second straight week, slashing 39,387 lots for a bearish bet of 21,445 lots, the lowest since the week ended July 14, as prices rose to their highest levels in 5 weeks. They boosted their arabica coffee net short by 4,273 contracts to 28,991 contracts, the highest since the week ended July 28, as prices fell to more than 1-1/2 year lows. The speculators increased their cocoa net long by 6,191 lots to 34,993 lots, the highest since the week ended August 4, as prices hit their highest levels in more than 5-1/2 weeks. The non-commercial dealers cut their cotton net long by 4,436 contracts to 27,748 contracts, the smallest since the week ended August 11 as prices fell to three-week lows.