Corn price rise fails to curb ethanol output

摘要

New York-High corn prices have not slowed US ethanol production, according to ethanol producer-marketer Aventine Renewable Energy. Front-month Chicago corn futures closed November 28 at 3.68/bushel, up from around 2.20/bushel in mid-September. Despite rising feedstock costs, "we haven't seen any slowdown in production," Aventine President Ron Miller told an Friedman Billings Ramsey Investor Conference in New York. While there are "still very good margins" on ethanol, he said 2007 spreads "will be thinner" than 2006.