Biofuels Stock and Financial Outlook for October 11: Broader markets, biofuels up in early trading

Biofuels stocks were up strongly this morning as diversified companies such as Archer-Daniels-Midland (ADM) and Andersons (ANDE) rose between 0.5 and 2 percent in early trading. ADM opened its Velva biodiesel plant today, marking its entrance into the US biodiesel business. Pure-play Big Ethanol stocks such as VeraSun Energy (VSE) were off slightly this morning after strong trading yesterday.

The Biofuels Digest Index, a basket of publicly traded stocks, rose 1.47% yesterday to 100.73, its highest point since September 6 and three percent below its all-time high. Strong performances by Archer-Daniels-Midland, up 1.,59 percent to $33.93, Pacific Ethanol, up 1.41% to $9.33, VeraSun (VSE), up 1.17% to $12.12, and Aventine, up 1.17% to $10.37, led the strong day for the sector. Losers and gainers were even in the day’s trading.

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