United States ethanol exports hit a record in 2017 and could make a repeat performance in 2018. Mike Dwyer with the U.S. Grains Council says exports way outperformed their expectations in 2017, especially with China essentially out of the market. He says Brazil picked up the slack.

Dwyer says they are optimistic about U.S. ethanol exports to Brazil in 2018, despite their recently imposed 20-percent Tariff Rate Quota.

However, the Brazilian Minister of Ag recently commented that they were looking at lifting the tariff in exchange for the U.S. allowing fresh beef imports in return. Dwyer says right now that is just speculation.

Dwyer says they’re optimistic about long term growth in ethanol and within five years are projecting a ramp up to 4 billion gallons annually.