ADM says China bought around 200M gallons of US ethanol for H1 2021

In Illinois, Reuters reports that ADM says China has bought around 200 million gallons of ethanol for H1 2021, equal to its previous record for total annual imports of US-origin corn-based ethanol achieved in 2016. China used to be a regular buyer of US ethanol but the trade war launched by President Trump against China brought those imports to a halt, damaging the viability of the US industry. Bringing China back into the fold could help prices and demand increase significantly. DTN reports that ADM’s CFO says how US policy around SREs will end up will be major indicators of how well the ethanol industry could recovery.