The potential for ending a trade dispute between the United States and the European Union that also boosts U.S. exports of soybeans rallied corn futures on the Chicago Board of Trade and pushed spot ethanol prices in Chicago higher.
This followed a meeting Wednesday at the White House between U.S. President Donald Trump and European Commission President Jean-Claude Juncker.
CBOT September corn futures rallied to a $3.656 six-week high before paring the advance, lifting physically traded ethanol in the Chicago market at the Kinder-Morgan operated Argo terminal 1.0 cent to a $1.44 gallon seven-week high Thursday afternoon. Trades were confirmed done at $1.4350 to $1.4450 per gallon.
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