Surging ethanol stockpiles and tumbling prices for the biofuel risk bringing back more sugar production in top grower Brazil.
“Prices have been coming down, ethanol stocks are building. Demand is strong but is probably not sufficient to clear the stocks,” said Tom McNeill, a director at Brisbane, Australia-based researcher Green Pool Commodity Specialists. “I think this assumption that everyone has made that maximum ethanol is absolutely locked in could be challenged within the next three months.”
Jul 9, 2018