Brazil’s ethanol parity price likely hit by presidential scandal-induced Real rollercoaster

In Brazil, accusations against the country’s president suggesting he bribed a witness to a corruption investigation have sent the Real sliding by 8%, a move that will likely impact the ethanol parity price that mills use to determine whether they will produce ethanol or sugar. That price was recently around 15 cents per pound against but the lower real sent prices for sugar down to a session low of 15.58 cents Thursday for ICE July futures.