David, Your link leads to a Youtube video you shared, not to a website, unless Youtube corrected the oil price for inflation, it isn’t something that the website you shared did.
Jul. 19, 2019 5:25 PM ET|By: Carl Surran, SA News Editor
U.S. ethanol plants are expected to sharply cut production in the weeks ahead as high Midwest corn prices and the U.S.-China trade war have caused weak margins and oversupply, Reuters reports.
Margins to produce ethanol in the Corn Belt have dropped to a four-year seasonal low, while ethanol inventories are at the highest seasonally since at least 2010, a glut that makes future cuts inevitable, particularly as corn prices are making production even more expensive; corn futures on the CBoT traded at ~$4.49/bushel last week, the highest for this time of year since 2013.
"Plants have exhausted all resources, and I think we will start seeing some real cuts to production," says Josh Bailey, CEO of ethanol marketer and distributor Eco-Energy, adding most producers are losing money on every gallon produced given the weak margins.
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