Ethanol traders wary of getting burnt in volatile corn market

In Illinois, Platts reports ethanol traders have been keeping to the sidelines of the corn market, buying only small lots as and when necessary, in an attempt to not get burned as corn’s volatility continues on the Chicago Board of Trade as crop predictions call for smaller and then larger volumes. On Wednesday, corn futures fell 13 cents per bushel after rising 32 cents the day before while Chicago Argo ethanol prices fell five cents per gallon on the same day to $2.5020/gal.