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REX - U.S. Ethanol Demand And The COVID-19 Pandemic
REX American Resources Corporation
The ongoing COVID-19 pandemic and related U.S. social distancing measures have wreaked havoc on the market capitalizations of U.S. ethanol producers. While that of diversified producer The Andersons (ANDE) has held up relatively well, its less-diversified peers such as Green Plains, Inc. (GPRE), Pacific Ethanol (PEIX), and REX American Resources (REX), as well as ethanol logistics MLP Green Plains Partners (GPP), have all seen their share/unit prices fall sharply in March to date (see figure). In many ways the ethanol sector's performance has been comparable