Brazilian hydrous ethanol parity inching closer to 70%

In Brazil, hydrous ethanol parity is sneaking ever closer to the 70% tipping point, the closest seen since October, reaching 70.6% last week compared to 70.8% the week prior. Ethanol prices typically fall during this time of the year in line with the start of the sugarcane crush but recent rains in the main center-south cane growing region have reduced the amount of ethanol production possible, slowing the fall in prices from what otherwise might normally be seen.