Sugar Futures Trading Lower

May New York Sugar is trading at 18.94, down 0.21 cents/lb. July New York Sugar is trading at 18.86, down 0.18 cents/lb. New York Sugar futures are trading at the session lows. Market chatter about global sugar supplies and weather in Brazil is making the rounds. Australia's sugar production for the season is estimated to be around 5.2 million tonnes versus 5.1 million tonnes a year ago. The street is estimating that Australia's sugar exports will be near 4.3 million tonnes, about the same as last year.