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US ethanol output hits record high

June 20, 2014 - US ethanol production soared to a record high as plants prepared for rising seasonal demand against a background of positive margins, supported by weak corn prices and rising crude oil values.

US biofuel plants produced an average of 972,000 barrels a day of ethanol last week, up 28,000 barrels a day on the previous week, and the highest figure since records began four years ago.

Some increase had been expected, given the weak markets in corn - the main raw material for US ethanol producer - and strength in gasoline prices, up more than 6% in the past two weeks, buoyed by the latest round of Middle East unrest which has underpinned energy market overall.

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June 20, 2014
By Agrimoney.com

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