Archer-Daniels-Midland drops as Trump claims Coca-Cola will use “REAL Cane Sugar”

Archer-Daniels-Midland is slumping and Coca-Cola is modestly higher after President Donald Trump touted his alleged progress in changing a key ingredient in one of America’s most iconic beverages.

“I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so,” the president wrote in a Truth Social post. “I’d like to thank all of those in authority at Coca-Cola. This will be a very good move by them — You’ll see. It’s just better!”

Coca-Cola did not confirm this news, but rather said that it appreciated the president’s enthusiasm and would offer “more details on new innovative offerings” soon.

Archer-Daniels-Midland produces, among other things, high-fructose corn syrup, which is right behind “carbonated water” in the list of Coca-Cola Original ingredients. Its starches and sweeteners business booked $207 million in operating profit in Q1, down 21% from a year earlier, and accounted for about 28% of total operating profits in the first three months of 2025.

The president did not say that Coke would no longer be using any corn syrup in its American formulation of Coca-Cola.

High-fructose corn syrup, which is cheaper than cane sugar in the US thanks in large part to government subsidies, has been a target of health advocates, who contend that its low price point leads to a wider array of inexpensive, unhealthy processed foods on the market. Some consumers, including many in the so-called “Make American Healthy Again” coalition, contend that high-fructose corn syrup is inextricably less healthy than cane sugar, despite the two ingredients being chemically nearly identical.