Ethanol Sinks to Five-Week Low After Report Shows Ample Supply
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Ethanol fell to a five-week low in Chicago after a government report showed stockpiles near a record and as corn and gasoline declined.
Futures dropped after the Energy Department said supply fell 0.4 percent to 22.6 million barrels from a record 22.7 million the previous week. Corn, the primary ingredient in the fuel in the U.S., was down on speculation that farmers will boost acreage and gasoline slipped after oil inventories climbed the most in 20 months.