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Brazil's corn output is surging, making corn ethanol more profitable and prompting mills to shift cane toward sugar. The shift is expected to ease a global sugar shortage that drove prices to an 11-year high.
Expanding Brazilian corn ethanol increases domestic corn demand there and may shift sugar supply, with limited direct effect on feed grain prices.
financialpost.comBloomberg NewsSep 22, 2023After 78 past neutral macro events, Corn moved a median +0.3% over 5 sessions (55% higher; middle half -1.1% to +1.6%), and -0.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
