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US ethanol profit margins hit records even as biofuels cut looms

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CHICAGO Dec 11 (Reuters) - U.S. ethanol markers are seeing their best profit margins in more than five years on strong demand for the biofuel and cheap corn despite a looming reduction to the federal biofuels program, analysts and traders said on Wednesday. The price of corn, the main feedstock used to produced ethanol in the United States, is hovering near a three-year low while ethanol prices have been buoyed by demand to meet the mandate...

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