October NY world sugar #11 (SBV24) today is up +0.72 (+3.40%), and December London ICE white sugar #5 (SWZ24) is up +13.90 (+2.50%). Sugar prices today extended this week’s sharp rally, with NY sugar posting a 5-1/4 month high and London sugar posting a 2-month high. Sugar prices are soaring as drought conditions in Brazil threaten its sugarcane crops. Fund buying this week supports sugar prices after meteorologist Climatempo said hot and dry conditions will persist in Brazil’s sugar-producing areas until next week. Drought and excessive heat recently caused massive fires in Brazil that have d…