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Funds increase long position in coffee in latest week amid Brazil frosts

Credit: REUTERS/EDGARD GARRIDO

Speculators sharply increased their net long position in arabica coffee futures on ICE in the week to July 20 as an unusual cold snap hit the heart of Brazil's coffee belt.

NEW YORK, July 23 (Reuters) - Speculators sharply increased their net long position in arabica coffee futures on ICE in the week to July 20 as an unusual cold snap hit the heart of Brazil's coffee belt.

According to data from the U.S. Commodity Futures Trading Commission released on Friday, money managers and hedge funds added 12,295 contracts to their bullish bets in coffee to a total long of 33,133.

(Reporting by Marcelo Teixeira; Editing by Leslie Adler)

((marcelo.teixeira@tr.com; +1 332 220 8062; Reuters Messaging: marcelo.teixeira.thomsonreuters.com@reuters.net - https://twitter.com/tx_marcelo))

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