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At least three dozen U.S. ethanol plants have shut down and about three dozen more are slowing production, with roughly 130 plants still operating. Reported operating margins of negative 20 to 30 cents per gallon are pushing more plants to curtail output as oil price war and COVID-19 demand losses persist.
Ethanol output cuts remove a major source of corn demand and reduce DDGS supply, which weighs on corn prices and tightens feed byproduct supplies for livestock buyers.
farmprogress.comMatthew KruseApr 10, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
