ADM rethinking its dry corn mills in light of oversupplied ethanol market

In Minnesota, oversupply of the ethanol market and weak margins has Archer Daniels Midland looking at other options for its three dry corn milling assets rather than producing ethanol as it attempts to reduce its capital investments by about $1 billion. Since 2006, the company has invested $1.3 billion to build two new dry mills. The review doesn’t look at its five wet milling facilities. In total, the eight sites have production capacity of 1.7 billion gallons of ethanol annually.