DTN Daily Ethanol Comments
Mary Kennedy DTN Basis Analyst
Fri May 30, 2014 04:29 PM CDT

Ethanol futures backed down on Friday after a strong performance most of the week. June closed at $2.365 per gallon, down 2.0 cents, and July traded down 2.1 cents at $2.246 per gallon. The market took stock of Thursday's EIA report showing and increase in supplies for the week ending May 23. Traders were concerned that demand outweighed the supply, but after digesting the EIA's report, they turned their focus to the rising ethanol stocks, reported by the EIA to be at a 13-month high.

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