Corn Dec 17 (CZ17.CBT)
CBOT - CBOT Delayed Price. Currency in USX
|Day's Range||373.50 - 378.50|
- 24/7 Wall St.•last year
The U.S. Department of Agriculture indicated that the corn crop for this year faces some hurdles, and that has pushed up the spot price for a gallon of ethanol.
- Reuters•last year
CHICAGO/NEW YORK, Sept 2 (Reuters) - The closure of two ethanol plants this week and proposed sale of a third highlight the growing challenges faced by small producers located far from cheap feedstock supplies in the U.S. Corn Belt, as demand for alternative fuels heads lower. Profit margins are shrinking across the U.S. ethanol industry, which produces about 15 billion gallons a year of the biofuel mainly from corn, as oil prices have sunk to the lowest in 6-1/2 years.