N.Y. Sugar Moves Lower

Large global supplies continue to weigh on sugar prices. N.Y. Sugar has moved lower Tuesday morning , May Sugar is trading at 13.43 down 0.21. Market chatter about concern over Chinese demand has emerged. Little reaction in sugar futures from the rate cut in china has traders worried. Some talk that the U.S. Dollar has moved higher against the Chinese Yuan indicating that China is looking to devalue the Yuan for lack of economic strength is going around. Market talk that good weather in China has helped the Chinese Sugar cane harvest has also added pressure. Trading has stalled a bit, some buying is seen near 13.34.