Us ethanol prices follow skyrocketing corn prices up

摘要

Houston-Ethanol markets in Chicago and New York Harbor reached their highest levels of the year July 3 on skyrocketing corn futures, sources said. "Corn keeps taking off, and so is ethanol," one ethanol trader said. July corn futures on the Chicago Board of Trade settled up 26.25 cents/bushel to $7.1875/bushel. Analysts said the strength was due to persistent heat and dryness in the Midwest-the largest corn-producing region in the US-and the Department of Agriculture's latest crop progress report, released late July 2, that showed only 48% of the current corn crop in a "good" or "excellent" condition.