Massive flooding in the U.S. Midwest has knocked out roughly 13 percent of the n...
MEAD, Neb./NEW YORK - Massive flooding in the U.S. Midwest has knocked out roughly 13 percent of the nation’s ethanol production capacity, as plants in Nebraska, Iowa and South Dakota have been forced to shut down or scale back production following the devastation.
The U.S. has some 200 ethanol plants capable of producing 1.06 million barrels per day, and about 100,000 to 140,000 bpd of capacity has been taken off line due to the floods, according to three traders who track operations.The disruption comes as the ethanol industry is in the midst of a historic downswing due to the ongoing trade conflict with China and sluggish domestic demand growth that has led to high inventories and weak margins.
The company said on Thursday that production is still limited without providing specific details, but traders said the plant’s production has been minimal. The plant can produce 413 million gallons annually, according to the Nebraska Energy Office. Mike Jerke, chief executive of Southwest Iowa Renewable Energy LLC, which runs a 120 million-gallon-a-year ethanol production plant in Council Bluffs, on the border of Iowa and Nebraska, said he has had to cut production.
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