Brazilian president stuck on ethanol import decision

In Brazil, Reuters reports President Bolsonaro is stuck between a rock and a hard place on the issue of US ethanol imports, or the sugarcane industry represented by UNICA and his buddy the president of the US. The US ethanol industry wants more access to the Brazilian ethanol market while the Brazilian cane industry wants more access to the US sugar market in exchange. What’s more, Trump is pushing Bolsonaro to drop the 20% import duty on US ethanol that goes above current quota levels.