Chicago Argo ethanol prices following corn futures higher

In Illinois, high corn prices are supporting Chicago Argo ethanol prices to an 11-month high of $1.6445/gal, 1.7 cents higher on Wednesday than on Tuesday. Corn prices have risen on the back of a weakening dollar, with currency fluctuations moving around due to uncertainty as to whether the Fed will raise interest rates in June. A lower dollar supports commodity markets by keeping them the same price in foreign currencies. Both corn and ethanol prices are the highest since July 2015.