March NY world sugar #11 (SBH24) on Thursday closed down -0.55 (-2.35%), and May London ICE white sugar #5 (SWK24) closed down -14.00 (-2.17%). Sugar prices on Thursday tumbled to 4-week lows and closed sharply lower. A sharp increase in Brazil’s sugar production is undercutting prices. Also, forecasted rain for Brazil’s Center-South, the country’s main sugar-growing region, should support sugar yields and is bearish for prices. On Thursday, Unica reported that Brazil’s Center-South sugar output jumped +68.5% y/y in the second half of January to 28,000 MT and that sugar output in the 2023/24 c…