Ethanol Falls to Three-Month Low
Businessweek reported on Wednesday that ethanol plunged to a three-month low, as speculation grows that there may be worldwide downturn in demand for the biofuel. Total U.S. fuel has decreased more than 1 percent in the last four weeks.
“All the markets seem to be down,” said Dan Flynn, a trader at Price Futures Group in Chicago. “There’s not too much positive news. We’re down hard on crude and the grains.”
Denatured ethanol for October delivery fell 1.6 percent on the Chicago Board of Trade and 1.7 percent on the West Coast in cash market trading.