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What do sky-high corn prices mean for ethanol producers? Quartz 3 hrs ago © Provided by Quartz In late April, 2020, as the pandemic descended on the US, demand for gasoline crashed to historic lows. Archer Daniels Midland (ADM), the agricultural commodities giant, decided to idle two of the country’s biggest plants producing corn-based ethanol mixed into oil-based fuels to reduce their carbon intensity. ADM’s chief biofuels rival, POET Inc., also shut down several plants. Overall, the bio-fuel accounts for about 10% of every gallon of gas pumped in the US. A year later, American drivers are back at the gas pump, and ethanol plants are back online. ADM re-opened its plants in early April; POET’s plants re-opened in August 2020 but only hit full production capacity in April. Then, just as ethanol’s road ahead was beginning to look clear, another unanticipated obstacle emerged: the spot price of its key ingredient corn surged to its highest levels in a decade in May.

United statesJuan ricardo lucianoNicholas paulsonJoe bidenNaomi blohmUniversity of illinoisDaniels midlandTotal farm marketingRicardo lucianoஒன்றுபட்டது மாநிலங்களில்ஜுவான் ரிக்கார்டோ லூசியானோநிக்கோலஸ் பால்சன்ஓஹோ பிடென்நவோமி ப்லோஹ்பல்கலைக்கழகம் ஆஃப் இல்லினாய்ஸ்டேனியல்ஸ் மிட்லாண்ட்