US ethanol production reaches record high

US ethanol outputs have hit a record high as plants prepare for the increasing seasonal demand and positive margins.

With weak corn prices and increasing crude oil values to reinforce this demand, last week saw plants produce on average 972,000 barrels a day, 28,000 barrels a day more than the previous week – the highest ever figure since records began.

The weak markets in corn and strong petrol prices have led to an increase in ethanol production of more than 6% in the past two weeks.