July NY world sugar #11 (SBN24) on Thursday closed down -0.16 (-0.87%), and Aug London ICE white sugar #5 (SWQ24) closed down -3.30 (-0.61%). Sugar prices posted moderate losses on Thursday as they consolidated above the major lows posted earlier this month. An early arrival of monsoon rains in India has improved India’s sugar crop outlook for this year and is weighing on prices. Monsoon rains arrived Thursday in southern India, slightly earlier than the normal date of June 1, according to India’s Meteorological Department. Sugar prices have tumbled over the past eight weeks as ramped-up sugar…