Archer-Daniels-Midland plummeted on Thursday after President Donald Trump said that Coca-Cola has agreed to use real cane sugar in its drinks in the U.S.

Trump’s announcement that Coca-Cola will switch from high-fructose corn syrup to cane sugar is shaking up the world of sweeteners.

As investors prepped for Coke’s cane-sugar future, corn syrup producers Archer-Daniels-Midland and Ingredion both saw their shares fizzle.

A possible move by Coca-Cola and other beverage and food industries, to use cane sugar instead of corn syrup as a sweetener would be difficult and expensive to implement, while mostly negative for farmers in the United States.

Archer-Daniels-Midland Co., the U.S.'s largest ethanol producer, is preparing to enter the sugar-cane-ethanol business in Brazil, company executives say. Such a move by the grain and ethanol giant ...