Chicago Argo ethanol prices lose most of November’s gains

In Illinois, Chicago Argo ethanol has tumbled to its lowest in at least a month at $2.0875/gal, down 11.25 cents from recent levels. After record ethanol production following a record corn crop, the market may at last be oversupplied after soaring nearly 54% in November. Already more than 71 cents of the 98 cents gained in November has already been shed in December, however.