Ethanol futures hit highest since July 2006

In Illinois, ethanol futures prices continued to soar on Friday with prices jumping 7.8% to the highest seen July 2006. Rail delays both to transport corn to distilleries and to ship ethanol to the coast areas where most of the demand is are forcing the high prices. Futures are up by a third in the past year, with delivery for April hitting $3.252 a gallon.