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Brazil's ethanol trade flow has reversed to net exports as domestic fuel demand fell 18.1% through June because of COVID-19. July ethanol exports reached 353 million liters, the highest in seven years, while July imports were the lowest since 2015.
Brazilian ethanol stocks rose 42% year on year to 5.95 billion liters.
Brazil's shift to heavy exports reflects a weaker real and strong demand for hand sanitizer, not a change in feed supply. The impact on feed markets is minimal.
spglobal.comAug 10, 2020Not enough comparable past events yet for a historical read.
After 1,982 past trade events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +1.6%), and +0.4% 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.
