Ethanol production hits all-time high and pushes down prices

In Washington, the Energy Information Administration said ethanol production rose to an all-time high last week at 1.040 million b/d, adding more than half a million barrels of stocks to the market, data which served to push down prices from near two-year highs. High prices and high margins have encouraged producers to give it all they’ve got in order to cash in while the run lasted, but with so many producing that run may already be over.