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Green Plains and ADM are shifting part of their fuel-ethanol capacity to beverage and industrial alcohol, and ADM will send 100 million gallons of annual output to export markets. The moves follow a record US ethanol inventory of 23.705 million barrels in April and thin margins amid industry overcapacity.
Taking fuel ethanol out of the domestic market can ease the glut and support margins over time, but it also reduces ethanol-driven corn demand in the US. The net effect on corn is bearish while the glut persists.
worldenergynews.comJoseph KeefeAug 2, 2017Not 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.
