U.S. corn problems boost Brazil ethanol outlook, might affect sugar
SAO PAULO, June 18 (Reuters) – Brazilian sugar mills are closely watching the 2019 U.S. corn crop for reduced harvests that could boost prices for the cereal, raising ethanol production costs there and opening room for Brazilian ethanol to gain domestic market share.
In that scenario, ethanol demand in Brazil would likely rise further, experts say, leading mills to maintain current production mix that heavily favors ethanol at the expense of sugar.
By Marcelo Teixeira via Reuters