DAR - Biofuel producers to get $700M in U.S. COVID-19 aid

scanrail/iStock via Getty Images The U.S. Department of Agriculture says it will give $700M in aid to biofuels producers as part of a package to assist industries recovering from COVID-19. Biofuel groups had sought the assistance after the pandemic cut fuel demand as well as consumption of biofuels such as ethanol. But ethanol-related stocks are showing little effect from the news: [[ADM]] -0.3%, [[REGI]] -2%, [[GPRE]] -1%, [[GPP]] -2.3%, [[DAR]] -0.7%. "Ethanol producers are still struggling to recover from COVID-related market losses and are now facing historically high feedstock costs," the Renewable Fuels Association says, adding that many plants remain offline or are operating at reduced production. U.S. ethanol output has climbed to 1.1M bbl/day from 837K bbl/day a year ago, according to the latest data from the Energy Information Administration. According to reports last week, the Biden administration is weighing options to provide relief to U.S. oil refiners from

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Biofuel producers to get $700M in U.S. COVID-19 aid