Ethanol Slides Most in More Than Week as Corn and Gasoline Fall
2012年3月21日 13:1 智信中国低碳投资 www.chineselowcarbon.com 来源：Bloomberg
Ethanol declined the most in more than a week in Chicago as corn and gasoline fell.
Futures dropped as corn, the primary ingredient in the biofuel in the U.S., faltered on speculation that rain in the Midwest will improve soil moisture before planting starts next month. Gasoline slipped on concern that demand in China will wane because of increased prices for the motor fuel.
“Corn had an interesting sell-off; some of it is weather,” said Ian Jackson, a trader at SCB & Associates in Chicago. “Ethanol sold off with corn and the energies were down, sort of a broad-based sell-off.”
Denatured ethanol for April delivery fell 3.6 cents, or 1.5 percent, to $2.30 a gallon on the Chicago Board of Trade, the biggest decline since March 7. Prices have risen 4.4 percent this year.
In cash market trading, ethanol in the U.S. Gulf decreased 1 cent, or 0.4 percent, to $2.30 a gallon and on the West Coast the biofuel slipped 1 cent, or 0.4 percent, to $2.395, according to data compiled by Bloomberg.
Ethanol in Chicago dropped 1 cent, or 0.4 percent, to $2.29 a gallon and in New York the additive lost 0.5 cent to $2.355.
Corn for May delivery sank 16 cents, or 2.4 percent, to $6.475 a bushel in Chicago. One such unit makes at least 2.75 gallons of the renewable fuel.
Gasoline for April delivery fell 0.47 cent to $3.3631 a gallon on the New York Mercantile Exchange. The contract includes reformulated gasoline, which is made to be blended with ethanol before delivery to filling stations.
Futures dropped as corn, the primary ingredient in the biofuel in the U.S., faltered on speculation that rain in the Midwest will improve soil moisture before planting starts next month. Gasoline slipped on concern that demand in China will wane because of increased prices for the motor fuel.
“Corn had an interesting sell-off; some of it is weather,” said Ian Jackson, a trader at SCB & Associates in Chicago. “Ethanol sold off with corn and the energies were down, sort of a broad-based sell-off.”
Denatured ethanol for April delivery fell 3.6 cents, or 1.5 percent, to $2.30 a gallon on the Chicago Board of Trade, the biggest decline since March 7. Prices have risen 4.4 percent this year.
In cash market trading, ethanol in the U.S. Gulf decreased 1 cent, or 0.4 percent, to $2.30 a gallon and on the West Coast the biofuel slipped 1 cent, or 0.4 percent, to $2.395, according to data compiled by Bloomberg.
Ethanol in Chicago dropped 1 cent, or 0.4 percent, to $2.29 a gallon and in New York the additive lost 0.5 cent to $2.355.
Corn for May delivery sank 16 cents, or 2.4 percent, to $6.475 a bushel in Chicago. One such unit makes at least 2.75 gallons of the renewable fuel.
Gasoline for April delivery fell 0.47 cent to $3.3631 a gallon on the New York Mercantile Exchange. The contract includes reformulated gasoline, which is made to be blended with ethanol before delivery to filling stations.
