July 29 (Bloomberg) -- Raw sugar may decline next week on signs that global supplies will outpace demand.
Seven of 10 traders, analysts and brokers surveyed by Bloomberg News said raw sugar in New York would fall. Two said it would gain, while one was neutral. Before today, futures for October delivery fell 4.5 percent this week to 29.92 cents a pound on ICE Futures U.S.
Seven respondents said refined sugar on London’s NYSE Liffe would fall, while one forecast a gain. Two expected little change. Futures for October delivery fell 2.9 percent this week through yesterday.
Four respondents said refined-sugar’s premium over raw would narrow, two said it would widen, and four were neutral.
Bullish on raw sugar: 2 Bearish: 7 Neutral: 1 Bullish on white sugar: 1 Bearish: 7 Neutral: 2 Widening white premium: 2 Narrow: 4 Neutral: 4
-- Editors: Millie Munshi, Daniel Enoch
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