NEW YORK, NY--(Marketwire - Oct 10, 2012) - Ethanol futures broke its longest streak of gains since July Friday on concerns that high prices would attract imports. Ethanol supplies in the U.S. are currently 8.4 percent higher than they were last year. "There might be a concern that if the flat price rallies too much more we could attract more imports, which is part of the reason we've had a glut in supply," said Ian Jackson, a trader at SCB & Associates. Five Star Equities examines the outlook for companies in the Specialty Chemicals Industry and provides equity research on Renewable Energy Group Inc. (
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The Environmental Protection Agency in April Approved 20 companies to make the new ethanol grade called E15, which is a fuel blend that contains 15 percent ethanol. Concerns regarding storage and use in older vehicles have stalled widespread adoption of the fuel. The EPA has only approved the use of E15 in 2001 and newer vehicles. According to the Renewable Fuels Association since E15 became available in July there have only been eight fuel stations in Kansas and Iowa that offer it, while Nebraska, South Dakota, and Illinois are soon expected to offer the fuel.
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The EPA last month announced that that the 2013 Renewable Fuels Standard (RFS2) will grow to 1.28 billion gallons. "This announcement offers certainty throughout the biodiesel supply chain, will grow green collar jobs and enhances our nation's energy independence," said Renewable Energy Group's President & CEO, Daniel J. Oh.
ADM delivers clean-burning ethanol to refiners through an expansive network of trucks, railcars, barges and terminals. The company makes ethanol from corn through an efficient process that also produces large amounts of animal feed. Bioproducts results for the quarter ended June 30, 2012 decreased $172 million to a loss of $61 million.
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