Ethanol logistics MLP Green Plains Partners (GPP) made the decision earlier this week to reduce its distribution by 75%. The new quarterly distribution of $0.12/unit will provide investors with the ~10% distribution yield that was on offer up until the MLP's price collapsed last month. The cut was also inevitable, given that Green Plains Partners was barely covering its distribution even before coronavirus-related demand disruption caused U.S. ethanol consumption volumes to fall by almost 50% YoY. (I concluded last month that investors should prepare for "the potential for a major distribution cut" due to