US loses ethanol exporter status

In Washington, the US has lost its status as an ethanol exporter following the significant drop in production due to this year’s drought across the Midwest. The US imported 21,000 barrels of ethanol in August, the first time it had imported more than it exported since December 2009 when exports and imports were about even. Ethanol’s discount to gasoline widened to 36.4 cents a gallon from 33.6 cents on Wednesday as a result of increasing imports.