Corn Refiners Association CEO John Bode released a statement following President Trump’s comment on social media that Coca-Cola (KO) will start using cane sugar in the U.S.: “Replacing high fructose corn syrup with cane sugar doesn’t make sense. President Trump stands for American manufacturing jobs, American farmers, and reducing the trade deficit. Replacing high fructose corn syrup with cane sugar would cost thousands of American food manufacturing jobs, depress farm income, and boost imports of foreign sugar, all with no nutritional benefit.” Shares of Archer Daniels (ADM) are down 2% to $52.84 in premarket trading following Trump’s comment.
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