Corn’s 2-Year High Fails to Curb Ethanol Profit: Energy Markets
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The highest corn costs in two years are failing to dent profits for U.S. ethanol producers as demand grows and prices for the biofuel and a byproduct used for animal feed increase.
Plants in Iowa are making an average 27 cents for every gallon of fuel produced, compared with a loss of 6 cents as recently as July, according to Ag Trader Talk, an online grains-information service in Clive, Iowa. Mills in Illinois are making about 25 cents, up from a loss of 2 cents, it said.