Sugar futures were on track for the longest run of losses in almost two years, on signs of improved supplies and a stronger dollar. Orange juice plunged the exchange limit on signs that U.S. consumption continues its decades-long slide.
The All India Sugar Trade Association said output may rise about 3% to 31.9 million tons this season. That’s even as roughly 3 million tons of cane will be diverted to make ethanol, which has become more attractive amid higher fuel prices. Also, European yields have been strong and traders are watching top shipper Brazil, where rain is expected to aid cane.