Ethanol advanced versus gasoline as cool, wet weather in the Midwest threatened to reduce corn yields and push up costs to make the biofuel.
Ethanol’s discount against gasoline tightened to the smallest in more than four months on concern that slower corn planting will boost the cost of producing the biofuel.
Texas lawmakers are joining the push to curb municipal bonds that push off debt payments for as long as 40 years on loans for public schools built to handle surging enrollment.
Ethanol weakened to a three-week low against gasoline on concern that unrest in the Middle East will disrupt crude supply.
Ethanol’s discount to gasoline narrowed on speculation that the cost of producing the biofuel will increase with rising prices for corn.
Ethanol futures fell a second day in Chicago amid unease about Europe’s economic recovery and as U.S. production of the biofuel rebounded from a two-year low.
Ethanol’s discount to gasoline fell the most in more than three months as the motor fuel slumped and corn rose.
Ethanol futures declined for a second day in Chicago as corn and gasoline dropped on signs of lower demand.
Ethanol futures fell a second day in Chicago on speculation rain and cooler weather in the Midwest is helping the corn crop and will reduce production costs.
Ethanol futures rose the most this month after corn costs increased for U.S. producers.
"We're getting a pretty decent spike in corn and that really has to do with the cooler weather."
- Dan Flynn on May 13, 2013
Flynn Discusses Oil and Energy Markets