July NY world sugar #11 (SBN24) today is down -0.10 (-0.53%), and Aug London ICE white sugar #5 (SWQ24) is down -0.20 (-0.04%). Sugar prices today fell back from 3-week highs and are moderately lower. Long liquidation emerged in sugar futures today after the Brazilian real ([^USDBRL](https://www.barchart.com/forex/quotes/%5EUSDBRL/overview)) fell to a 14-month low against the dollar. The weaker real encourages export selling by Brazil’s sugar producers. Another bearish factor for sugar is today’s slide in crude oil price (CLN24) to a 3-3/4 month low. The weaker crude prices undercut ethanol pr…