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Michigan has three of its five ethanol plants closed, and the two remaining plants have scaled back production. The industry faces record-low crude prices and a 50-60% drop in fuel consumption from COVID-19 travel restrictions.
One plant has converted some capacity to hand-sanitizer production.
Ethanol plant closures reduce corn grind and DDGS output, tightening byproduct feed supply and weakening local corn demand in the Midwest.
michiganfarmnews.comDennis Rudat, Farm News MediaApr 27, 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.
