Sugar Futures May Fall in New York on Increased Thailand Supply

Sugar may fall next week on bets that output will rise in Thailand, the world’s largest exporter after Brazil.

Five of 11 traders, analysts and brokers surveyed by Bloomberg News said raw sugar traded in New York will decline, while four said it will gain. Two were neutral. Before today, the commodity fell 2.7 percent this week to 27.11 cents a pound.

Four of 11 survey respondents said refined sugar on London’s NYSE Liffe exchange will slump, and three said it will rise. Four were neutral.

Refined sugar’s premium over raw sweetener may be little changed next week, according to five respondents. Three said it will narrow, and three expect it to widen.

Bullish on raw sugar:     4      Bearish:   5    Neutral:  2
Bullish on refined sugar: 3      Bearish:   4    Neutral:  4
Widening refined premium: 3      Narrow:    3    Neutral:  5

(Source:  http://www.bloomberg.com/news/2011-03-31/sugar-futures-may-fall-in-new-york-on-increased-thailand-supply.html)