I'm pretty sure you want to keep whatever you are fermenting in the proper range for the type of yeast you are using. I'm fairly new so I could be wrong but I believe the higher the temp, the faster the ferment but potentially the more off flavours that might be created. At lower temps, the fermentation will be a bit slower but the off flavours created by a higher temp fermentation won't happen. If you go to low then the yeast will go dormant and not ferment at all.
Once again, I'm very new and might be wrong but that is my understanding of it.
Wine yeast is far more tolarable of temps then beer yeast. The flavors that wine yeast produce are not affected by temperature very much. Some wine yeasts have recommended temp range that spans 30 F.
Example
Quote:
Originally Posted by Fermentis
Red Star Montrachett
FERMENTATIVE PROPERTIES
• This strain guaranties a quick start of the fermentation by rapidly settling into the must faced with indigenous
microflora.
• Good alcohol resistance (till 15% vol.) and specially recommended for fermentation without temperature control
thanks to its ability to ferment within a large temperature range (15°C to 35°C, 59°F to 95°F).
• Optimum resistance to all nutritional deficiencies (musts poor in available nitrogen) and to difficult conditions
(strongly clarified musts, high SO2 content).
In my experience, most wine yeast strains easily go to the mid-80s without any flavor issues, and have a healthy ferment. When it's too hot for beer, I make wine.
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