Sugar Falls on Outlook for Surplus; Orange Juice Tumbles
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Sugar fell, halting the longest rally in a month, as rising global supplies outpaced demand. Orange juice and cotton slid, while coffee and cocoa rose.
More sugar exports from Thailand, the world’s second-biggest shipper, are expected because mills are behind with sales, Tom McNeill, a director at Green Pool Commodity Specialists Pty in Brisbane, Australia, said in a telephone interview. Global supplies will outpace consumption by 11 million metric tons this year, Paris-based Sucres et Denrees SA said last week.