Disclosed are a method of hydrolysis of wet fiber and a method for preparing ethanol. Generally, an agricultural plant material, such as corn hulls, distillers dried grains, or spent germ, is treated to at least partially hydrolyze the fiber. The process may include a maceration step followed by a shearing operation in the presence of steam to yield a treated product, in which, in many embodiments, saccharides will be released and unbound from fibrous portions of the agricultural product. In some embodiments, the process includes macerating the material to provide a slurry having a solids content of at least 10 percent and jet cooking the slurry. A mixture of saccharides prepared in this fashion may be fermented to yield ethanol and/or biochemicals.