Ethanol Blog

Ethanol Futures Inch Higher

By Rick Kment , DTN Analyst

Commodity markets trudged along at a snail's pace Wednesday with traders focusing on the lack of direction in the grain market with prices trading on either side of unchanged for most of the day in corn futures, as well as general lack of interest in outside markets.

Late_day support did find its way into the energy complex at the end of the session as traders pushed RBOB gasoline prices 2 to 3 cents per gallon higher while crude oil increased nearly $1 per barrel.

The combination of the higher corn and energy prices at the end of the session helped to draw light buying interest into the ethanol futures markets with nearby contracts posting fractional gains at closing bell.

There is growing emphasis on production and inventory level changes that will be released from the EIA Thursday. Due to Veterans Day holiday on Monday, reports are delayed a day.

Rick Kment can be reached at rick.kment@telventdtn.com

Comments

To comment, please Log In or Join our Community .