Ethanol Blog
Spot Ethanol Lower on Corn Futures Decline before Crop Data
Spot ethanol prices slid in early trade under selling pressure from Chicago Board of Trade corn futures, as traders looked ahead to supply and demand estimates data due out tomorrow from the USDA.
"Everybody's trying to game the USDA estimates," said one trade source. "There was some technical selling earlier after corn broke the 15-to-20-day moving averages," said analyst Tom Pfitzenmaier at Summit Commodity Brokerage in Des Moines, Iowa.
George Orwel can be reached at george.orwel@telventdtn.com.
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