U.S. ethanol profits from bumper corn crop

Reuters
Wed Oct 7, 2009 5:36pm EDT
By Sam Nelson

CHICAGO (Reuters) - The U.S. ethanol industry is chalking up the best profits in months after suffering through 2008, with a bumper corn crop this year, relatively high energy prices and the possibility of exports bolstering the sector.

Corn is the foundation of the U.S. ethanol industry, and producers got a huge boost to their bottom line this year as corn prices were cut in half from the record high of $7.65 per bushel posted in the summer of 2008.

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