Ethanol Blog
Rick Kment DTN Analyst

Friday 11/08/13

Ethanol Futures Rally Higher

Ethanol futures quickly responded to tighter corn supply numbers in the USDA report today. This helped to draw additional support into corn futures which closed 6 to 7 cents per bushel higher. Traders are looking for additional potential support early next week which could draw additional interest back into the market.

Ethanol prices rallied 6.7 cents per gallon higher during the last two trading sessions. This abrupt and aggressive shift in price has started to affect the market tone. Additional moderate gains through the first part of next week could move through initial resistance levels in October, and draw additional buyer support into the market.

Over the next several weeks, emphasis is likely to be placed back on the direction of corn prices and availability of corn for processors. Demand for ethanol, as well as gasoline, is expected to continue to fade through the upcoming weeks. This could limit price support of both markets.

Rick Kment can be reached at rick.kment@telventdtn.com

(ES/)

Posted at 4:17PM CST 11/08/13 by Rick Kment
Comments (1)
Rick, My news opened this AM with a very long article bashing the production of fuel ethanol. The article smacks of a hatchet job promoted by the oil industry and some of the ultra rich "conservative" folks who do not mind that the Oil Industry obtains obscene amounts of tax subsidies from the government and they are so afraid that the small amounts of fuel ethanol used for fuel in the US may bring their industry down. Can someone respond to the mis statements made by the Associated Press reporters, and uncover the sources of the mis information published by the AP?
Posted by Robert Lawler at 7:35AM CST 11/12/13
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