Sugar Futures May Gain Next Week on Rising Demand, Survey Says
Raw sugar may advance next week on signs of rising global demand.
Five of nine traders, analysts and brokers surveyed by Bloomberg News said raw sugar in New York would rise. Two forecast a fall, and two were neutral. Before today, futures for October delivery rose 4.6 percent this week to 29.12 cents a pound on ICE Futures U.S.
Six respondents said refined sugar on London’s NYSE Liffe would gain. Two expected a slide. One said prices would be steady. Futures for October delivery rose 3 percent this week through yesterday to $765.80 a metric ton.
Five of eight respondents said refined sugar’s premium over raw would widen. Two said it would narrow, and one was neutral.
Bullish on raw sugar: 5 Bearish: 2 Neutral: 2 Bullish on white sugar: 6 Bearish: 2 Neutral: 1 Widening white premium: 5 Narrow: 2 Neutral: 1
To contact the reporters on this story: Justin Doom in New York at jdoom1@bloomberg.net; Maria Kolesnikova in London at mkolesnikova@bloomberg.net
To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net
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