ADM and Phillips 66 discussing corn-based ethanol SAF JV

In Minnesota, Reuters reports Archer Daniels Midland is in discussions with Phillips 66 to create a joint venture that would see ADM place its two remaining dry mill ethanol plants into the fold for conversion to aviation biofuel from corn-based ethanol. Most of the company’s dry mill ethanol plants have been spun out or sold off since it decided to step back from that side of the industry back in 2016. The remaining ethanol plants are based in Columbus, Nebraska, and Cedar Rapids, Iowa and together produce 613 million gallons of ethanol annually.