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Green Plains, the nation's fourth-largest ethanol producer, has permanently closed a 60 million gallon plant in Hopewell, Virginia, and cut output at several other facilities. Ethanol prices have reached decade lows amid flat domestic demand and the loss of Chinese import demand from the trade war.
Plant closures and idled capacity cut corn demand from ethanol producers, which is bearish for corn and DDGS. The industry-wide shutdowns show the glut is hitting processors hard.
admin.hydrocarbonprocessing.comNov 15, 2018Not 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.
