Speculators significantly increased their bearish bets on raw sugar futures on ICE U.S. in the week leading up to May 21, while slightly expanding their long positions in arabica coffee and cocoa, according to the Commodity Futures Trading Commission (CFTC) on Friday, reported Reuters.
Funds increased their short position in raw sugar by 11,217 lots, bringing it to 69,490 contracts. They also boosted their net long position in arabica coffee by 1,373 lots, reaching 41,377 contracts. Additionally, funds’ net long position in cocoa futures grew by 1,103 contracts, totaling 8,668 contracts.
