CHICAGO, April 1, 2021—ADM (NYSE: ADM) today released the following statement:
“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.
“We plan to begin corn grind immediately, with initial ethanol deliveries for customers by mid-April and ramping up to full rates by late spring, to meet the demands of the spring and summer driving season. We’re pleased to welcome back our Cedar Rapids and Columbus colleagues, and we’re excited about the prospects for these facilities as ethanol demand increases and as we continue to expand the range of innovative, alternative products we make from corn.
“In addition, with the restart of our dry mills, we will continue with the discussions with the interested parties regarding these assets.”