July NY world sugar #11 (SBN24) on Thursday closed up +0.88 (+4.57%), and Aug London ICE white sugar #5 (SWQ24) closed up +15.90 (+2.79%). Sugar prices Thursday rallied sharply to 2-1/2 month highs. Sugar had carryover support from Wednesday when India’s agricultural agency reported spreading a fungus crop disease called red rot through India’s Uttar Pradesh state, a key sugar-growing region. Also, Thursday’s rally in crude oil (CLQ24) prices to a 1-3/4 month high was bullish for sugar. Higher crude prices benefit ethanol prices and may prompt the world’s sugar mills to divert more cane crushi…