POET to idle 330MG of ethanol production across four facilities and delays Shelbyville

In South Dakota, POET announced it will idle production at its bioprocessing facilities in Chancellor, S.D., Ashton, Iowa, and Coon Rapids, Iowa, and delay the start-up of its new plant in Shelbyville, Ind., as producers across the United States continue to grapple with the economic fallout of the ongoing COVID-19 pandemic. On an annualized basis, these operational changes are expected to reduce corn demand by 110 million bushels, freezing 330 million gallons of ethanol production across the four facilities. POET has also significantly slowed production at other facilities, further decreasing corn demand.