NEWS
DTN Daily Ethanol Comments
Rick Kment DTN Analyst
Tue Sep 24, 2013 03:12 PM CDT

Ethanol futures posted sharp losses Tuesday following lack of follow-through support and additional weakness in corn futures. Traders are focusing on additional short-term pressure in nearby contracts as traders look for the potential of corn prices to fall further through harvest. September corn futures broke below $4.50 per bushel, after a 4 1/2 cent loss. This could add additional losses to nearby and deferred ethanol prices. October ethanol prices slipped to $1.828 a gallon after a 5.8-cent-per-gallon loss. There still remains a 20-cent premium over the November contracts, which suggests short-term commercial buying is still developing across the market.

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