Brazilian ethanol export get boost from falling currency but stability needed

In Brazil, a sinking real against the dollar means more offers for ethanol exports, though bids are holding off until the currency stabilizes some. The sugarcane crush will start back up in April, meaning mills want to off-load old supply before then which has pushed prices FOB Santos to their lowest since 2009 at $440 per cubic meter. When ethanol is 5 cents per gallon below US prices, that will signal the opening of the arbitrage window with the US.

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