October NY world sugar #11 (SBV24) today is down -0.31 (-1612%), and Oct London ICE white sugar #5 (SWV24) is down -3.80 (-0.71%). Sugar prices today are moderately lower, with NY sugar falling to a 1-1/2 week low. Today’s fall in crude prices (CLV24) to a new 8-3/4 month low is pressuring sugar prices. The weakness in crude undercuts ethanol prices and may prompt the world’s sugar mills to divert cane crushing toward sugar production rather than ethanol, thus boosting sugar supplies. Sugar prices last week rallied to 1-1/2 month highs as drought and excessive heat have caused massive fires in…