ADM Ramps Up Ethanol Sales in Chicago
Company is driving down prices and angering its rivals
Archer Daniels Midland Co. (ADM) has sold unusually high volumes of ethanol into the Chicago market since late last year as export markets dried up, driving down prices in the U.S. Midwest and angering the company’s rivals, according to traders and regulatory data.
The Illinois-based global commodities powerhouse, a major ethanol producer, accounted for roughly 61% of the 9.5 million barrels sold at the Chicago hub between November and August, according to the data reviewed by Reuters.
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