Rising corn prices squeezing Midwest ethanol producers

In Illinois, Platts reports that it may be rising corn prices squeezing the already tight crush margin that begins to slow down ethanol production. Platts reported margins at just 2.96 cents/gal after corn futures soared nearly 14 cents in a week following China’s decision to drop an investigation into US sorghum exports that sent all grains higher. Ethanol production continues to rise at well over 1.05 million barrels per day while ethanol prices were holding stead earlier this week at $1.4680/gal on Monday.