Ethanol demand will spike because the United States Environmental Protection Agency has eased regulations so more can be blended with gasoline.
It’s one of the responses to the shut-down of Colonial Pipeline’s network serving the Eastern United States. A criminal element in Russia is rumoured to be responsible for hacking the company’s computers and demanding ransom.
The company immediately shut down after it received the threat.
That has already led to shortages with some gasoline stations running out in Florida, Georgia, South and North Carolina and Virginia.
The situation may also drive corn prices even higher from their current highly-profitable levels for farmers.
It will also spill over to corn and all feed grains markets in Ontario.