Trump's Comments Send ADM Shares Tumbling Amid Coca-Cola's Potential Switch to Cane Sugar

Shares of Archer-Daniels-Midland (ADM) plummeted nearly 3% in premarket trading after President Donald Trump announced that Coca-Cola agreed to use real cane sugar in its drinks in the US. Trump claimed the move would be a "very good" one, but Coca-Cola did not explicitly agree to the change. The Corn Refiners Association warned of potential job losses and a boost in foreign sugar imports. Ingredion shares also fell more than 7%.

Shares of Archer-Daniels-Midland (ADM) plummeted nearly 3% in premarket trading on July 2, 2025, following President Donald Trump's announcement that Coca-Cola had agreed to use real cane sugar in its drinks in the United States. Trump claimed the move would be a "very good" one, but Coca-Cola did not explicitly confirm this change. The Corn Refiners Association warned of potential job losses and a boost in foreign sugar imports. Ingredion shares also fell more than 7% in response to the news [1].

Coca-Cola's response to Trump's claim was non-committal. The company stated, "All Coca-Cola brand products are wholesome beverages manufactured in compliance with the federal law." This ambiguity has left investors and the market uncertain about the actual intentions of the beverage giant [1].

The debate over sweeteners in popular U.S. soft drinks has been ongoing. While Coca-Cola in the U.S. typically uses high-fructose corn syrup, many international versions use cane sugar, which is considered superior by some consumers. The Make America Healthy Again (MAHA) initiative, led by Health Secretary Robert F. Kennedy Jr., has been advocating for reformulating foods to reduce added sugars and artificial ingredients [1].

The Corn Refiners Association, representing corn syrup producers, warned that a move away from corn syrup could lead to significant job losses and harm to U.S. agriculture. They emphasized that high-fructose corn syrup and cane sugar are nutritionally similar and that a switch would not yield major public health benefits [1].

Coca-Cola has not issued a formal confirmation of a planned switch to cane sugar in its U.S. products or released a timetable for any such change. The company indicated that new product announcements are forthcoming but did not specifically mention reformulating its flagship Coca-Cola beverage. It remains unclear if any regulatory or industry-wide changes will follow as a result of the MAHA initiative or the White House's advocacy for reformulated foods [1].

Investors are closely watching the situation, as any definitive move by Coca-Cola could have significant implications for the market and the broader food industry. The uncertainty surrounding the company's response to Trump's claim has contributed to the volatility in the stock market, particularly for companies like ADM and Ingredion, which are directly affected by the sweetener debate.

References:
[1] https://www.newsweek.com/coca-cola-responds-donald-trump-cane-sugar-2100060