U.S. ethanol profits stay weak on poor fuel demand

Reuters
Fri Oct 10, 2008 3:41pm EDT

NEW YORK, Oct 10 (Reuters) - Average U.S. ethanol distillers profits rose a few pennies this week on softer corn prices but remained weak overall on poor motor fuel demand, analysts said on Friday.

"Those companies that are able to keep costs under control continue to do okay. Those that can't are in a world of hurt," said Rick Kment, analyst at DTN in Nebraska.

Average U.S. distillers were making about 10 to 20 cents per gallon for the week ending Thursday, analysts said.

That was up about five to 10 cents from the previous week, but was no relief from the range seen in recent months.

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