Feb ’18 U.S. Ethanol Export Volumes Reached a New Monthly Record High Feb ’18 U.S. Ethanol Exports Volumes Increased 174.1% MOM and 58.4% YOY Brazil was the Top Destination for U.S. Ethanol Exports During Feb ’18 Feb ’18 U.S. Ethanol Volumes Destined to Brazil Increased Most Significantly YOY Feb ’18 U.S. Ethanol Export Volumes Destined to Brazil Increased to a Record High Feb ’18 U.S. – Brazilian Ethanol Net Trade is Estimated to Reach a Record High A 20% Tariff on U.S. Ethanol Exports Destined to Brazil Took Effect Beginning Sep ’17 Brazil has Accounted for 72% of the Total YOY U.S. Ethanol Export Growth Since 2016 Ethanol Exports Volumes Destined to Brazil up, China Down, Over the Past 12 Months U.S. Ethanol Export Volumes Destined to China Declined Sharply From the 2016 Highs Feb ’18 U.S. Ethanol Export Volumes Destined to China Increased to a 22 Month High