US ethanol futures hit 12-month low

December 21, 2011 |

In Illinois, ethanol futures trading on the Chicago Mercantile Exchange have fallen to a 12-month low to about $2.09 per gallon as buyers stay away from the market following a massive sell off since mid-November. Since then futures have fallen by more than a $1 when they reached $3.10 on Nov. 17. Ethanol producers are still making good margins but if the drop in prices continues, they’ll be forced to drop their prices but that won’t work into the market until January or February.

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