The company has plants nearing the end of construction in Mount Vernon, Indiana, and in Madison, Illinois, Christopher Standlee, a spokesman for Seville-based Abengoa said today in an interview. The Indiana mill will begin production about one month before the Illinois plant, he said.
Denatured ethanol for November delivery rose 1.1 cents, or 0.6 percent, to $1.835 a gallon at 10:49 a.m. on the Chicago Board of Trade. Futures have climbed 13 percent this year. The average spot price for the fuel in the Midwest was about $2.495 a gallon on Oct. 9, according to data compiled by Bloomberg.
Margins for the fuel have improved from earlier this year amid lower corn prices. An average ethanol mill in Iowa is earning 8 cents a gallon and a distillery in Illinois is pocketing 13 cents, according to Ag Trader Talk, an online grains information service in Clive, Iowa. On May 7, a plant in Iowa was losing 2 cents.
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