Ethanol futures posted a wide price shift Monday with moderate gains redeveloping in December and January futures. This pushed prices 1.4 to 2.8 cents per gallon higher. December futures closed at $1.805 per gallon, which is the highest price of the month. Pressure is starting to become more prevalent in deferred contract months through the end of 2014 as traders are more uncertain about how the proposed restrictions will affect long-term market structure and the production infrastructure set up in the country.
Corn prices lost 10 cents per bushel as buyers remain unwilling to step back into the market at this point. The strong gains seen Friday in the RBOB gasoline market were unable to be reestablished, as traders seem to be less focused on long-term market support, at least before the holidays.
Rick Kment can be reached at firstname.lastname@example.org
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