US weekly ethanol margins at break even on corn

Reuters UK
Fri May 1, 2009 8:35pm BST

NEW YORK, May 1 (Reuters) - Average weekly U.S. ethanol profits held near break even on strong corn prices and soft fuel demand, market players said on Friday.

"Overall demand for ethanol remains soft, and it looks like it will be that way through the spring," said Rick Kment, an renewable fuels expert at DTN in Nebraska. He said the recession could put a damper on summer driving season which is traditionally the highest motor fuel demand period of the year.

Prices for corn, the top input cost for U.S. ethanol makers, have risen as soggy weather slowed down plantings. May corn CK9 on the Chicago Board of Trade closed up more than 3 cents on Thursday at more than $3.96 a bushel.

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