Chicago, IL — Archer Daniels Midland Co. said Thursday that two of the company’s dry mill ethanol plants will remain idle, according to areport from Ethanol Producer Magazine.
The company is taking a data-driven approach to determining a restart date for those plants, and indicated the strategic review of ADM’s ethanol business in ongoing, officials said during ADM’s second quarter earnings call.
ADM is considering a variety of factors concerning the potential restart of the Cedar Rapids, IA and Columbus, NE plants, idled April 23, including data on ethanol inventory levels, driving miles, and the margin environment.
Recent data released by the U.S. Energy Information Administration is encouraging, he said, noting that ethanol inventories reached a peak of more than 27 million barrels in April, but have fallen to approximately 20 million barrels in recent weeks, according to Ray Young, executive vice president and chief financial officer of ADM.
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