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REX - The Critical Importance Of Higher Ethanol Blends To Ethanol Producers
REX American Resources Corporation
Last week I provided an update on the extended slump that U.S. ethanol producers find themselves caught in. A share price rally early last week (see figure) following a favorable court ruling quickly dissipated as gasoline prices fell in response to growing international concern about 2019 Novel Coronavirus. The share prices of The Andersons (ANDE), Green Plains, Inc. (GPRE), Pacific Ethanol (PEIX), and REX American Resources (REX) are all in negative territory for 2020 to date, in some cases by double digit amounts (see figure).