Sergio Flores | Bloomberg | Getty ImagesEthanol prices have collapsed as gasoline demand dropped by half due to COVID-19 shutdowns. That because ethanol —a biofuel derived from corn — makes up about 10% of the gas in your tank.
His company runs more than two dozen ethanol plants in the U.S., though currently three plants are closed, and 10% of his workforce is laid off.However, in two plants, POET is doing something new. It has re-engineered systems to make pharmaceutical grade hand sanitizer.The conversion from ethanol to hand sanitizer comes with "some pretty significant costs," he says.
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$DL - Ethanol's yield is at a recent low of -8.72, 84% of the time this led to a rally in price (last: 1.05) TOGGLEbot cnbc