Ethanol fell versus gasoline on concern that lackluster fuel demand will limit how much of the biofuel can be blended into petroleum.
Ethanol weakened against gasoline on speculation a tighter discount to the motor fuel will reduce demand and higher returns to make the additive will spur output.
Ethanol weakened against gasoline on speculation that the cheapest corn in more than nine months will boost returns and spur higher production of the biofuel.
Ethanol’s discount to gasoline narrowed to the smallest in more than a week as plant shutdowns led to a record streak of inventory declines.
Corn rallied after plunging the most in 24 years yesterday, while wheat and soybeans advanced on speculation the slump in the past two days may attract investors, feed millers and biofuel producers.
Ethanol’s discount to gasoline widened from a five-month low on signs of a glut of the grain- based additive.
Ethanol weakened against gasoline by the most in three weeks after the motor fuel rallied and as the biofuel fell on higher output.
Ethanol jumped the most in five weeks against gasoline on signs of increased demand for the additive while prices for the motor fuel dropped.
Ethanol’s discount to gasoline widened as imports of the biofuel rose to a seasonal high.
Ethanol futures fell in Chicago, a day after touching a 32-month high, as crude oil declined on speculation that demand may drop.
"The only thing that worries me is the gasoline demand category."
- Jason Ward on May 03, 2013