Ethanol spot prices widen as consumption starts to ramp up post-COVID

In Texas, ICIS reports that as ethanol demand begins to increase against the background of production well below consumption that is eating away as the significant stocks held nationwide, the spot prices for ethanol are beginning to widen. Underlying the market is a planned record corn harvest that should see upwards of 40% of the corn dedicated to ethanol production but COVID-19 related impacts are pushing down demand and in turn forcing the temporary or long-term closure of billions of gallons of ethanol.