Ethanol Gains on Gasoline on Signs of Higher Manufacturing Costs
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Ethanol strengthened against gasoline on concern that bad weather in the Midwest will slow corn planting and raise production costs to make the biofuel.
The spread, or price difference, narrowed 1.42 cents to 22.08 cents a gallon on speculation that wet weather in the corn-rich Midwest kept farmers from putting equipment in soggy fields to plant that grain and primary feedstock for ethanol in the U.S. One bushel makes at least 2.75 gallons of the fuel.