Ethanol Rises to Highest Price Since July 2006
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Ethanol rose to the highest price since July 2006 as demand for the biofuel climbed while rail congestion held down production rates.
Futures surged 7.8 percent. Distillers are being forced to dial back output because of the availability of trains to transport corn to turn into the biofuel. The same delays are affecting the shipment of ethanol to the population-dense East Coast from the corn-rich Midwest, where about 89 percent of plants are located.