01
Feedstock and yield
Corn and wheat prices influence the largest variable input in many Canadian plants. The relevant cost is delivered feedstock adjusted for conversion yield, quality and procurement terms, not a distant futures quote copied without basis or freight.
02
Coproduct credits
Dry and wet distillers grains, corn oil and other coproducts can offset part of the feedstock and processing cost. Their value depends on local feed demand, moisture, freight and specification.
03
Energy, logistics and policy
Natural gas, electricity, denaturant, rail and truck availability, storage and terminal access shape the delivered economics. Policy can create obligations and compliance value, but a regulation is not itself a spot price.