October NY world sugar #11 (SBV24) on Wednesday closed down -0.25 (-1.38%), and Oct London ICE white sugar #5 (SWV24) closed down -3.80 (-0.72%). NY sugar prices on Wednesday extended this month’s plunge and fell to a new 1-1/4 year low. Sugar prices continue to suffer from increased Brazilian sugar production, the prospects for improved rain in India and Thailand, and estimates for a 2024/25 sugar surplus. StoneX said Wednesday that it expects a global sugar surplus of 1.2 million MT for the 2024/25 season (Oct/Sep), down from its 2023/24 surplus estimate of 4.6 million MT. Covrig Analytics s…