Sugar Little Higher

Sugar futures are trading a little higher early Friday morning. October Sugar is trading at 11.61, up 0.10 and March Sugar is trading at 12.92, up 0.09. Trading is rangebound. Market talk about global demand and supply has kept both buyers and sellers active. Market chatter about Brazil sugar production is making the rounds. The sugar mills in the sugar producing center-south region of Brazil during the first half of July produced 1.4 million tonnes, down over 43 percent from a year ago and ethanol production was down over 23 percent from a year ago. Overall, sugar production for the season is 10.7 million tons, down nearly 17 percent and ethanol production down just under 3 percent as more sugarcane has been used for ethanol.