March NY world sugar #11 (SBH25) Thursday closed up +0.12 (+0.54%), and December London ICE white sugar #5 (SWZ24) closed up +2.80 (+0.50%). Sugar prices posted moderate gains on Thursday, supported by strength in crude oil. WTI crude (CLX24) rose more than +3% Thursday, which benefits ethanol prices and may prompt the world’s sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies. On Wednesday, sugar prices retreated to 3-week lows as forecasted rains in Brazil alleviated drought concerns. Forecaster Maxar Technologies said showers wi…