Ethanol Declines From One-Week High on Lower Corn Prices
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Ethanol futures declined from a one-week high, falling with corn on forecasts of higher temperatures in the U.S. Midwest.
The biofuel followed corn lower on speculation warm weather in the U.S. Midwest will increase corn yields. The grain is the primary input for ethanol production, with one bushel distilling into at least 2.75 gallons of the gasoline additive.