Valero shuts two ethanol plants and declares force majeure

In Texas, ICIS reports that Valero has declared force majeure and as a result shuttered two of its ethanol plants in Albion, Nebraska, and Albert City, Iowa, a move that is said to roil the animal feed market with concern about the availability of DDGS. The company no longer has sufficient storage to handle more corn or more ethanol due to the lack of demand for ethanol, forcing its hand. Some sources said that fuel demand has fallen by half as a result of people staying home.