Sugar extends losses

New York Sugar futures have extended early losses on Monday. October Sugar is trading at 11.62, down 0.34 and March Sugar is trading at 13.08 down 0.27. Chatter about currency values along with weakness in other commodities is making the rounds. Market chatter about price competition for sugar based ethanol production in the Southern Hemisphere by U.S. corn based ethanol companies has been making the rounds. Market chatter weather and harvest in Brazil is constant.