An ag economist says recovery to the ethanol industry continues to face an uphill climb following the disruptions from the coronavirus pandemic.
Dr. Michael Swanson with Wells Fargo says ethanol consumption is still running about 10 percent below year-ago levels, but he expects it to come back. “As we see a reopening of the economy and we’re seeing good rollout of the vaccines as they come along every single month,” he says. “That’s going to be positive for the ethanol utilization and we’re also going to see them spin up production, which is good for corn demand.”
He tells Brownfield exports of ethanol present opportunity for the market – at least in the short term.
