Brazilian and US ethanol markets split as policies and demand diverge

In Brazil, Bloomberg reports that the global ethanol market has split, with ethanol in the US acting almost completely unrelated from Brazil where the ethanol market is booming, as the sugarcane crush kicks off and drivers look to fill their tanks with record volumes of hydrous ethanol. In the US, on the other hand, stocks are so higher and production continues chugging on that margins are squeezed and corn prices are falling in response. Previously the US and Brazilian ethanol markets had been much more closely linked.