Ethanol exports from the United States set another record last year and industry leaders say the market has substantial room for more growth.

The U.S. shipped 1.7 billion gallons of ethanol overseas in 2018, a 23% leap over the previous year. The exports totaled more than $2.7 billion in value and represent the equivalent of 577 million bushels of corn. 

“Exports are a huge deal to the ethanol industry,” says Craig Willis, senior vice president of global markets for Growth Energy....