Corn, ethanol prices rise despite VEETC sunset

In Illinois, ethanol futures rose for a with consecutive day despite the apparent failure of Congress to renew the $0.54 per gallon tax credit on corn ethanol. For 2011 as a whole, ethanol prices have fallen 8.1 percent. At the same time, corn futures prices were up 5.44 percent for the week on the Chicago Mercantile Exchange, closing at $6.20 per bushel, and overall the crush spread between corn and ethanol prices remained stable, despite the VEETC’s imminent demise.