ADM gives no firm restart date for two US dry mill ethanol plants
Alex Snodgrass
30-Jul-2020
HOUSTON (ICIS)–Archer Daniels Midland (ADM) gave no firm restart dates for its two dry mill ethanol plants in Cedar Rapids, Iowa, and Columbus, Nebraska, in its earnings presentation.
ADM CFO Ray Young said a decision on the restarts will be “very data driven”.
Young said that the factors include industrial ethanol, inventory levels, driving miles and ethanol margins.
The two plants were idled late April when driving demand destruction was at its peak and ADM was originally planning on a four month timeline.
Ethanol is used as a gasoline blendstock, in pharmaceuticals, and in food and beverage applications, such as hand sanitizers and vodka.
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