U.S. corn crop off to slow start
In the U.S., ethanol production has for years been one of the biggest users of the corn crop, taking anywhere from 40% to 50% of production.


In South America, and specifically in Brazil, ethanol production in recent years has used just 10% to 15% of the corn crop produced there, though this appears to be quickly trending higher.

To start with, yes, Brazil does have an ethanol industry. In 2024, the country produced just under 10 billion gallons of the fuel product, compared to the U.S. at around 16 billion gallons.

However, the stark difference between the two countries isn't their production capacity but their feedstock use. In the U.S., almost all (around 95%) of the ethanol produced is made with corn.

In Brazil, nearly 80% of the...