October NY world sugar #11 (SBV24) today is up +1.07 (+5.36%), and December London ICE white sugar #5 (SWZ24) is up +20.50 (+3.83%). Sugar prices today rallied sharply for a second day, with NY sugar posting a 5-1/4 month high and London sugar posting a 2-week high. Sugar prices are soaring as drought conditions in Brazil threaten its sugarcane crops. Fund buying is supporting sugar prices after meteorologist Climatempo said most of this week will continue to be hot and dry in Brazil’s sugar-producing areas. Drought and excessive heat recently caused massive fires in Brazil that have damaged s…