October NY world sugar #11 (SBV24) on Monday closed up +0.56 (+2.92%), and Aug London ICE white sugar #5 (SWQ24) closed up +24.00 (+4.38%). Sugar prices recovered from early losses on Monday and moved sharply higher. Sugar prices rallied Monday on below-normal monsoon rain in India, the world’s second-largest sugar producer. The Indian Meteorological Department reported Monday that India received 287.7 mm of rain during the current monsoon season as of July 15, down -2% from the comparable long-term average of 294.2 mm. Sugar prices on Monday initially moved lower, with NY sugar posting a 3-we…