U.S. ethanol production rose to a more than six month high last week.
The U.S. Energy Information Administration says production averaged 1.06 million barrels a day, an increase of 8,000 from the previous week and 16,000 from a year ago.
The cost of corn has declined and the industry is expecting strong consumer demand this summer.
Iowa State University’s Center for Agricultural and Rural Development says margins for the average Iowa plant shot higher last week, supported by that lower corn cost and those demand expectations.
