Ethanol Margins Narrow But Still Profitable – 11/7/2023
Declining ethanol prices have pressured corn ethanol margins, but the margin remains profitable compared to historical levels. The accompanying table displays the late harvest margin calculation for each of the last seven years.
The recent drop in gasoline prices and increased seasonal production of ethanol has put pressure on ethanol values. The recent rally in soybean meal prices could boost distillers dried meal values and contribute a modest boost to margins.
| Week ending | Margin $/Bu. | Ethanol $/Gallon | 10 % Dist Grain $/ton | Corn $Bu | year |
| 11/1/2017 | $1.46 | $1.31 | $108.50 | $3.17 | 2017 |
| 11/1/2018 | $1.34 | $1.24 | $133.20 | $3.31 | 2018 |
| 11/1/2019 | $1.40 | $1.43 | $131.70 | $3.77 | 2019 |
| 11/2/2020 | $1.90 | $1.54 | $185.75 | $4.06 | 2020 |
| 11/3/2021 | $4.37 | $2.90 | $180.00 | $5.36 | 2021 |
| 11/3/2022 | $2.11 | $2.48 | $231.21 | $6.87 | 2022 |
| 11/3/2023 | $2.65 | $1.96 | $204.50 | $4.62 | 2023 |
| Price Data based on Central Illinois. | |||||