Ethanol makers hope to rebound after demand drops
Farmer Dwayne Ehlert remembers the moment last August when he delivered a truckload of corn to an ethanol plant here and sold it for a record $8.16 a bushel.
"I knew it was good for me, and I knew it wasn't good for anyone else," said Ehlert, 70, who has been farming for five decades on the outskirts of this southern Minnesota city.
High prices for corn, from which ethanol is made, have hammered the ethanol industry. A month after Ehlert made his profitable delivery, the Fairmont plant halted production, one of 20 U.S. ethanol producers to do so in the past year. Corn farmers like Ehlert, whose crops survived the drought, kept hauling corn to ethanol plants as he continued to fetch some of the highest prices ever.
For the first time in 16 years, U.S. ethanol production declined in 2012,
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