NEWS
DTN Daily Ethanol Comments
Rick Kment DTN Analyst
Fri Mar 22, 2013 04:28 PM CDT

Ethanol futures continue to move lower Friday. The 6-cent loss in the corn futures market continues to erode additional buyer support in the ethanol market, even though prices didn't track together through much of the week. April futures closed 2.5 cents per gallon lower, at $2.544 a gallon. This accounts for an 8.5-cent-per-gallon loss in the last week, and signals that the recent highs may be the new resistance points of the market. Traders are looking for additional support, but with very little buyer interest in either the corn or RBOB gasoline markets on Friday, buyer interest quickly evaporated.

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