May NY world sugar #11 (SBK24) on Thursday closed down -0.61 (-2.84%), and May London ICE white sugar #5 (SWK24) closed down -4.40 (-0.70%). Sugar prices posted moderate losses on Thursday, with NY sugar falling to a 1-month low and London sugar falling to a 3-week low. Sugar prices have been under pressure since last Wednesday when Thailand’s Office of the Cane and Sugar Board reported that Thailand’s 2023/24 sugar production from Dec-Mar was 8.75 MMT, above a Feb estimate from the Thai Sugar Millers Corp for sugar production of 7.5 MMT. Weakness in the Brazilian real (^USDBRL) also weighed o…