Ethanol Blog
George Orwel DTN Energy Reporter

Thursday 12/12/13

U.S. Senate Bill to Purge Corn Ethanol from RFS Spurs Selloff

News that U.S. Sens. Diane Feinstein, D-Calif., and Tom Coburn, R-Okla., introduced a bill to purge corn-based ethanol from satisfying the Renewable Fuel Standard mandate has led to a steep fall in spot ethanol prices Thursday. Traders worry ethanol demand will be reduced.

A trader argued the bill has little chance of becoming law and instead attributed the price drop to overbought market conditions. New York Harbor barged December ethanol was offered 32.5 cents lower on the day at $3.00 per gallon while today transfer ethanol at the Argo terminal near Chicago traded at a $2.30 per gallon, down 9.25 cents.

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

(ES)

Posted at 1:42PM CST 12/12/13 by George Orwel
Comments (2)
corn based ethanol must be a miracle product to get diane feinstein and tom coburn together. tom your in some shakey company. its too bad tom doesn't do a little homework before jumping on the train with feinstein.
Posted by DAVID FREMARK at 5:04PM CST 12/12/13
Both carry dirty water for Big Oil .$100 Frack oil cannot compete with $1.65 gal.ethanol so lets go kill ethanol . E-30 the best fuel ever used 34 MPG in Malibu .
Posted by melvin meister at 10:14AM CST 12/13/13
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