Ethanol Blog
George Orwel DTN Energy Reporter

Monday 09/17/12

Spot Ethanol Prices Plunge on Plummeting Corn Prices

U.S. spot ethanol prices tumbled 8cts to 10cts in thin early trade, pressured by a sell-off in corn and soybeans on the Chicago Board of Trade amid reports harvests for this year appear to be better than initially thought.

"We've got harvest pressure on ethanol," said analyst Scott Strand at Northstar Investment Co. in Minneapolist, Minn. "Corn yields are better than anticipated and soybeans are in liquidation mode. The weaker market is also taking a hit from profit-taking in commodities, with people reducing risk exposure."

George Orwel can be reached at george.orwel@telventdtn.com.

Posted at 4:41PM CDT 09/17/12 by George Orwel
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