Chicago Argo ethanol crashes to lowest price ever at $1.04/gallon

In Illinois, Platts reports that the Chicago Argo ethanol benchmark price has fallen to a historic low of $1.04/gallon on the back of falling demand brought about by the coronavirus outbreak that is keeping people at home and off the roads. The last time the price was near this level was in July 2003 when it reached $1.1550/gallon, the previous record. With falling prices, Platts estimates the crush margin to have fallen to negative 22.7 cents per gallon.