Spot ethanol prices traded lower early Thursday as excess product supply combined with a retreat for Chicago Board of Trade corn futures amid disappointing export sales for corn.
"Ethanol is following corn and the stocks and ... (production) numbers doesn't help here," said a trader who's active in the Chicago and New York cash markets. "There's too much (product stocks) for now, but if you look at it for an extended period, it's not."
George Orwel can be reached at firstname.lastname@example.org.
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