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Sugar surplus prompts traders' bear streak

Sugar traders are bearish for a seventh consecutive week, the longest stretch since at least 2007, on prospects for the first supply glut in four years. Sixteen of 22 analysts expect raw-sugar prices to decline next week and one was neutral, according to Bloomberg’s weekly sentiment survey that began in April 2007. Global production will exceed demand by 10 million metric tons in the 12 months ending in September, equal to about a year of US consumption, according to Singapore-based Olam International Ltd, which trades and processes commodities in 65 countries. Prices that surged to a ...