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ADM timeline for reopening dry mill ethanol plants remains unclear
Archer Daniels Midland remains unsure of when it will reopen idled ethanol plants in Iowa and Nebraska.
During an earnings presentation Thursday, ADM chief financial officer Ray Young said the decision to restart two dry mill facilities in Cedar Rapids, Iowa and Columbus, Nebraska will be “data driven.”
He pointed to industrial ethanol, inventory levels, driving miles and ethanol margins as factors being considered.
The two plants were idled toward the end of April at the peak of driving demand destruction caused by stay-at-home orders related to COVID-19.
ADM initially said the plants would be offline four months.
Tags: ADM, Corn, coronavirus, COVID-19, Crops, Ethanol, Farm Income/Prices, fuel demand, industrial ethanol, Iowa, Nebraska, pandemic
