Sugar wagers dropped 9.4 percent to 107,232, the lowest in four weeks. Sixteen of 22 analysts expect prices in New York to decline next week and one was neutral, according to Bloomberg's weekly sentiment survey. The traders were bearish for a seventh consecutive week, the longest stretch since at least 2007, when the surveys began.
"There's more concern now over the possibility of a global recession," said James Dailey, who manages $215 million of assets at TEAM Financial Management LLC in Harrisburg, Pennsylvania. "It's quite difficult to navigate trading in commodities right now because things are going to have to get worse before policy makers step in."