Sugar extended the longest slump in more than 15 months as processors are beginning to turn cane into sweetener in India, the world’s second-biggest producer, at a time when inventories are swelling to a record.
A gnat-sized insect, the Asian citrus psyllid, forced Dean Mixon to replace about 1,000 orange trees in the past two years on the 50-acre Florida farm his grandfather started in the 1930s. The bug spreads a disease called citrus greening, causing fruit to shrink and drop early.
Commodities capped the biggest five- session slide since July 2009 on concern that China will seek to slow its economic growth, curbing raw-material demand in the country that is leading the global recovery.
Orange juice futures fell, extending a decline to a three-week low, on speculation that U.S. demand will remain weak while output rebounds in Florida, the world’s second-largest producer. Cotton also dropped.