Ethanol inventories last week were down 10 percent from a year earlier and are at a seasonal record low, data compiled by Bloomberg show. Close Close Open Photographer: Daniel Acker/Bloomberg Ethanol inventories last week were down 10 percent from a year earlier and are at a seasonal record low, data compiled by Bloomberg show. Ethanol rose to the highest price since July 2006 as demand for the biofuel climbed while rail congestion held down production rates. Futures surged 7.8 percent. Distillers are being forced to dial back output because of the availability of trains to transport corn to turn into the biofuel. The same delays are affecting the shipment of ethanol to the population-dense East Coast from the corn-rich Midwest, where about 89 percent of plants are located. “It is logistics, logistics, logistics,” said Julie Ward, an assistant vice president at R.J. O’Brien & Associates, a […]