Ethanol Rises Above $3 a Gallon for First Time Since 2011
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Ethanol futures rose above $3 for the first time since 2011 amid demand from refineries and blenders before U.S. gasoline use rises with warmer weather.
Distillers are facing delays transporting the ethanol they produce to markets after winter storms slowed deliveries and competition for rail cars forced ethanol plants to slow production. A 2007 U.S. law requires the biofuel, mostly made from corn, to be blended into gasoline, so higher ethanol costs can boost prices at the pump. Inventories last week were down 10 percent from a year earlier, according to government data.