Ethanol Margins, DDGS, & The EPA’s Small Refinery Waiver

Declining ethanol margins are beginning to put the brakes on production, thereby slowing DDGS supply. The outlook for ethanol is a debatable topic.  The RFS requires 15 billion gallons of ethanol to be blended with gasoline. However the Environmental Protection Agency (EPA) use of the small refiners waiver, has blown holes in that mandate. Last year, the EPA’s use of the…