Biofuels Digest Indexâ„¢ plunges 5.45 percent to 120.58 as grain prices decline, ethanol weakens

The Biofuels Digest Indexâ„¢, a basket of public biofuels stocks, plunged 5.45 percent yesterday to 120.58 as profit taking and falling grain prices hit agribusiness hard and ethanol stocks continued to slide.

For the day, declines led advances 3 to 1 as Archer Daniels Midland (ADM) fell 5.84 percent to close at $42.37. Bloggers said that the slide was temporary. Among mid caps, Aventine Renewable (AVR) eked out a modest 0.51 percent gain to close at $9.95, but Pacific Ethanol (PEIX) fell 7.38 percent to close at $6.15.

Among small caps, GreenShift (GSHF.OB) fell 19.23 percent to $0105 and Bio Solutions Manufacturing (BSLM.OB) tumbled 12.50 percent to $0.028, while Nova Biosource (NBF) made a small 0.43 percent gain to close at $2.34.

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