Ethanol futures break above $2.4 per gallon for the first time in more than six years, as inventories continue to diminish as a result of growing demand for renewable fuels as drivers return to the road and a potential wave of bioenergy-friendly regulations from the Biden administration. On the supply side, many ethanol producers have been cutting production as they faced negative margins for much of 2020.
Historically, Ethanol reached an all time high of 4.33 in June of 2006. Ethanol - data, forecasts, historical chart - was last updated on May of 2021.
Ethanol is expected to trade at 2.29 USD/GAL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.88 in 12 months time.