Greeting from the CEO
According to U.S. officials, drivers in eight Midwestern states will be able to fuel up with a higher blend of ethanol throughout the year under a final rule announced Thursday by the Environmental Protection Agency.
The biofuels industry and farming groups, with support of Midwest governors, sought the end of a summertime ban on sales of gasoline blended with 15% ethanol for years. The higher blend has been prohibited because of concerns it could worsen smog during warm weather.
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The move reflects the importance of ethanol to agriculture. The fuel additive consumes roughly 40% of the nation’s corn crop, so higher sales of ethanol could mean greater profits for corn farmers. The rule, which takes effect in April 2025, will apply in Illinois, Iowa, Minnesota, Missouri, Nebraska, Ohio, South Dakota and Wisconsin. Those states grow the bulk of the U.S. corn crop and are home to much of the nation’s ethanol production. As of March 31, 2024, United Ethanol produced 14,934,526 gallons of ethanol. The plant also produced 35,185 tons of dried distillers’ grains (DDGs) and extracted 4,380,055 pounds of corn oil. First quarter profits were not quite as good as last year because of slightly lower crush margins on ethanol and lower values for distillers and corn oil versus last year. Wishing you the very best in 2024! Cooperatively yours, David A Cramer President and CEO |