Ethanol futures sink to 9-year lows

In Illinois, ethanol futures prices fell to a nine-year low to $1.29 per gallon following the Energy Information Agency’s data release that showed ethanol stocks at a two year high of 20.23 million barrels for the week ending Jan. 9. That is 1.38 million barrels more than the week before.  The EIA data also weighed on corn futures prices, which also triggered technical moves.