One of the world’s biggest ethanol producers painted a grim picture for American-made biofuel, along with its own prospects, if Donald Trump’s trade war with China lingers much longer.
According to Bloomberg, Archer-Daniels-Midland Co. said Thursday that the main risk to its goal of matching earnings levels of last year is a continuation of the trade spat between the world’s two largest economies.
Like U.S.-grown soybeans, ethanol — made primarily from corn and a revenue generator for farmers — faces steep tariffs in China.
America’s ethanol industry is beset by a supply glut and negative returns.
