In Illinois, the Ohio Country Journal reports Wisconsin ethanol producers United Wisconsin Grain Producers, Didion Ethanol, Ace Ethanol, Fox River Valley Ethanol, Badger State Ethanol and Iowa producer Pine Lake Corn had until Wednesday to respond to ADM’s intent to have their antitrust cases against the company dismissed. ADM filed for dismissal of the suit that alleges price manipulation of ethanol, saying the suits filed in the U.S. District Court for the Central District of Illinois in Urbana as well as the suit filed by Green Plains in Nebraska that has been told to shift the venue to Illinois aren’t antitrust cases.
Jim Parkin iStock Slowed fuel use from pandemic results in loss of 700 million bushels of corn grind and 2 billion gallons of production.
The coronavirus pandemic’s induced reduction in gasoline demand and fuel use resulted in 2 billion gallons in reduced ethanol production from March to November. That equals an estimated $3.8 billion in lost revenues for the ethanol industry, and 700 million bushels of corn not ground, according to Scott Richman, economist at the Renewable Fuels Association.
During a call with the media Wednesday morning, Richman says the economic impact to the ethanol industry is continuing. “The impact from this pandemic is not over yet. Even though our industry is very resilient, it’s taken a direct hit from this pandemic.”