The invention relates to improved processes of producing ethanol from starch-containing material wherein saccharification and/or fermentation is done at a temperature below the initial gelatinization temperature in the presence of glucoamylase and alpha-amylase, and optionally a protease and/or a cellulolytic enzyme composition; wherein the fermenting organism is a Saccharomyces yeast strain providing a higher ethanol yield boost and lower glycerol production compared to ETHANOL RED™ under the same fermentation conditions. The invention also relates to Saccharomyces yeast strains and derivatives thereof, as well as compositions comprising such yeast strains, suitable for use in a process of the invention.