Ethanol profits remain high as corn prices soar

In New York, Bloomberg is reporting that profits in ethanol production are up to $0.27 per gallon, swinging from losses as high as $0.06 per gallon during the summer. The rising profits come in spite of corn prices, which have risen 40 percent high.

Among factors benefiting ethanol producers: 20 percent increases in ethanol prices, and a 13-month low in natural gas prices. Ethanol, is now nearing the $2.34 per gallon mark, the highest since August 2008.

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