Nearly half the nation's ethanol facilities are closed at the moment. No, it's not directly due to coronavirus, it's due to the oil glut created by Saudi Arabia and what that's done to ethanol prices. These closures, like every action, have a reaction. For the Business of Agriculture, the ripple effect is oftentimes misunderstood by the non farming consumer. Take meat plant closures as an example and what that's created at the grocery store. Sadly, we're seeing or about to see the downstream impact of ethanol closures. Corn prices are the first reaction (over one third of America's corn production goes to ethanol), but there are other reactions too. Geoff Cooper, CEO of the Renewable Fuels Association joins me to discuss what ethanol plant closures mean for Ag and consumers. You may just want to stock up on carbonated beverages!
The Business of Agriculture Podcast