Ethanol breaks another production record at 1.196B barrels per day

In Washington, Pro Farmer reports Energy Information Administration data shows ethanol production broke another record last week at average of 1.196 million barrels per day, well above the levels analysts surveyed by Bloomberg expected of 1.105 million. With the 17 billion bushels of corn produced last season, prices have been very low, providing opportunities for ethanol producers to cash in on stronger margins. The Secretary of Agriculture has been pushing for year-round E15 along with other policymakers to help boost demand for the surplus corn.