Raw Sugar Slumps Most Since April After Previous Day’s Rally
Cocoa pods at a farm in Kwabeng, Ghana, in 2023.
Photographer: Paul Ninson/BloombergTakeaways by Bloomberg AI
Raw sugar futures retreated in New York, posting the biggest intraday loss in more than two months on an outlook for improving global supplies.
The most-active contract fell as much as 3.1%, erasing gains from Monday’s rally and nearing four-year lows again. While the expiration of July options on Monday is seen as a cause for the recent volatility, traders are now once again focusing on good prospects for production in top growers Brazil, India and Thailand.