ICE sugar speculators raise bearish bets in latest week

• The speculator group raised its net short position by 19,968 contracts to 183,243 in the week to Oct. 8, the data showed.
• Coffee speculators increased their net short position by 7,252 contracts to 47,787 in the week.

NEW YORK: Hedge funds and other money managers upped their net short position in sugar on the Intercontinental Exchange in the latest week, according to data from the US Commodity Futures Trading Commission.

The speculator group raised its net short position by 19,968 contracts to 183,243 in the week to Oct. 8, the data showed.

Sugar futures fell about 3.3 percent during the period, driven by producer and trade selling.

Speculators also trimmed their net short position in cotton and raised bearish positions in coffee and increased bullish wagers on cocoa.

In cotton, speculators cut their net short position by 2,153 contracts to 31,860 in the week.

Coffee speculators increased their net short position by 7,252 contracts to 47,787 in the week.

In cocoa, speculators upped net long positions by 1,179 to 4,440 lots in the week to October 8.