May NY world sugar #11 (SBK24) on Monday closed up +0.80 (+3.78%), and May London ICE white sugar #5 (SWK24) closed up +19.60 (+3.28%). Sugar prices Monday rallied to a 1-1/2 week high on some short-covering after last week’s 2-month low. Sugar prices last week showed weakness on rain in Brazil. Sugar prices also showed weakness on rising sugar production in Brazil, the world’s largest producer. Unica on Feb 27 reported that Brazil’s Center-South sugar output surged +1051% y/y in the first half of February to 27,000 MT and that sugar output in the 2023/24 crop year through mid-February rose +2…