Ethanol’s discount to gasoline expanded as profit margins prompted distillers to send more production to the market.
Ethanol futures climbed to a seven- week high as demand in the physical market improved amid declining U.S. inventories.
Ethanol rose to a three-week high in Chicago on speculation that farmers are withholding corn supplies to boost prices.
Ethanol advanced against gasoline on concern that demand for corn as the harvest begins will raise prices for the grain, boosting the cost of making the additive.
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’s discount to gasoline widened from a five-month low on signs of a glut of the grain- based additive.
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.
Ethanol fell versus gasoline on concern that lackluster fuel demand will limit how much of the biofuel can be blended into petroleum.
Ethanol slumped a sixth day against gasoline on speculation that cheaper corn prices will help boost output of the fuel and replenish stockpiles.
Ethanol futures fell in Chicago, a day after touching a 32-month high, as crude oil declined on speculation that demand may drop.
"Stocks just declined slightly compared to output."
- Jason Ward on Nov 20, 2013