REX - U.S. Ethanol Producers Will Be Affected By Brazil's Pandemic Response

The share prices of U.S. independent ethanol producers Green Plains, Inc. (GPRE), Pacific Ethanol (PEIX), and REX American Resources (REX) have staged an impressive rally since the beginning of April. Those of Pacific Ethanol and REX American Resources have almost rebounded to their early March levels, although that of Green Plains remains 33% lower over the same period (see figure).

The rally has been driven by a rapid rebound of U.S. gasoline demand that has in turn caused demand for ethanol, which is commonly blended with

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