ADM Production at dry mills in Iowa and Nebraska to be ramped up to full rates by late spring.
Apr 05, 2021
Archer Daniels Midland (ADM) is restarting production at its Vantage Corn Processors dry mills in Cedar Rapids, Iowa, and Columbus, Neb.
“We’ve been carefully monitoring a wide variety of industry ethanol conditions, and in recent weeks, we’ve seen consistent signs pointing to accelerating demand for domestic ethanol,” the company said. “Inventories across the industry are steadily coming down, China is importing volumes, we continue to expect driving miles to increase as the pace of vaccinations accelerates, and the EPA’s support of a strong Renewable Fuel Standard is helping drive great blending economics.”
In Illinois, ADM has decided to reopen two mothballed ethanol mills. “We’ve been carefully monitoring a wide variety of industry ethanol conditions, and in recent weeks, we’ve seen consistent signs pointing to accelerating demand for domestic ethanol. Inventories across the industry are steadily coming down, China is importing volumes, we continue to expect driving miles to increase as the pace of vaccinations accelerates, and the EPA’s support of a strong Renewable Fuel Standard is helping drive great blending economics. Based on these multiple factors, we are confident in increasing demand for ethanol, and in order to meet that demand, we are planning to restart production at our Vantage Corn Processors dry mills in Cedar Rapids, Iowa, and Columbus, Nebraska.
About DTN
DTN delivers accurate, objective, real-time, and actionable insights to increase our 2 million customers’ confidence and support their business decisions. In a data-rich world, our actionable insights in weather and financial analytics make sense of the information, drive change in processes and help businesses prosper. They empower our agriculture, energy and transportation customers – those who work endlessly to feed, fuel and protect our world. We believe that when our customers are supported with the most reliable and innovative information to the Nth Degree, they prosper and we all win. DTN is based in Minneapolis with offices globally.
By Reuters Staff
1 Min Read
April 1 (Reuters) - Archer Daniels Midland said on Thursday it plans to restart production at two of its U.S. corn dry mills this year as it expects demand for ethanol to surge.
The company will restart production at its Vantage Corn Processors dry mills in Cedar Rapids, Iowa, and Columbus, Nebraska, and begin corn grind immediately. (bit.ly/3cHvRSU) (Reporting by Arathy S Nair in Bengaluru; Editing by Ramakrishnan M.)
Tim Robberts/Stone/GettyImages China s appetite for U.S. crops drives earnings to $3.59 a share and CEO expects another record year in 2021.
Bloomberg | Jan 26, 2021
By Isis Almeida
China is so hungry for American crops that it’s driving earnings of one of the world’s largest agricultural commodities traders to a record.
Archer-Daniels-Midland Co. delivered all-time high earnings of $3.59 a share on an adjusted basis last year, and Chief Executive Officer Juan Luciano expects another record year in 2021. China is scooping up U.S. crops, pushing combined American corn and soybean exports to a record in the fourth quarter, according to data from the U.S. Department of Agriculture compiled by Bloomberg.