U.S. ethanol makers 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, according to a report from Reuters.

“The current level of profitability meets or exceeds the highs from 2011,” said Jerrod Kitt, a biofuels analyst at brokerage Linn Group in Chicago. “We’ve been scraping tank bottoms for months in ethanol – (inventories) have been well below average since June – and demand just keeps humming along.”

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