Sugar Futures Trading Steady

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October New York Sugar is trading at 23.03, up 0.01 cents/lb. March New York Sugar is trading at 23.46, up 0.02 cents/lb. Sugar futures are trading steady Wednesday morning after Tuesday's choppy trading session. Market chatter about Brazil's sugar exports and forecasts for Brazil's sugar output next season Is making the rounds. Early estimates show that Brazil's sugar production may rise by 1 million tonnes as sugar mills are moving towards sugar production rather than ethanol production. Street estimates for the global sugar supply deficit for this season are now around 6.45 million tonnes due lower sugar production in Brazil, India and Thailand.

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