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US ethanol margins rise as feedstock cost falls
Source : reuters.com
Average profits for distilling U.S. ethanol rose for the week ending May 29 as prices for corn fell while prices for the alternative fuel held strong, analysts said. Average ethanol margins rose about 6 cents per gallon to 18 to 28 cents per gallon. "Corn is very volatile right now and ethanol profits are dependent on whether it rises or falls", said Cory Garcia, a researcher at Raymond James and Associates in Houston. He said ethanol prices have held strong despite a drop in oil prices from record highs of more than $135 per barrel last week, which has helped support profits for distillers.
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2 June 2008 |
Economy ::
Bioethanol ::
International
The information in this section is subject to a disclaimer.
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