* Speculators still hold huge net short positions in sugar,
coffee
* Speculators go net long cotton after three weeks short
* Graphics http://r.reuters.com/buv87r
(New throughout, adds details, graphic link)
Dec 7 (Reuters) – Speculators raised their net long position
in cocoa contracts to the biggest in nearly three years on ICE
Futures U.S. in the week to Dec. 4, when the futures soared to a
nine-week high, U.S. Commodity Futures Trading Commission data
showed on Friday.
The noncommercial dealers added 4,325 contracts to their net
long position in ICE cocoa futures and options, bringing it to
29,968 contracts, the data showed.
This raised their position to the highest since January
2010.
Speculators trimmed their net short position in raw sugar
futures and options to 42,170 lots, down by 8,729 lots and
falling from the previous week’s highest level in more than five
years, the data showed.
In arabica coffee contracts, speculators cut their net short
position slightly for the third straight week, down 725 lots to
32,941 lots. Their net short position is still large and down
only 8 percent from 35,939 lots a few weeks prior, the highest
since records were made available in 2006 .
The noncommercial dealers switched to a net long position in
cotton futures and options, after being net short for only three
weeks. They added 9,961 contracts to become net long 5,773
contracts during a volatile week that saw the futures market
jump to a near-six-week high on speculative buying and then
tumble along with the commodity complex.
(Reporting by Marcy Nicholson in New York; Editing by
Marguerita Choy)
