Ethanol Declines With Corn as Analyst Forecasts More Planting
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Ethanol fell after an analyst said corn planting may exceed U.S. estimates. The biofuel’s discount to gasoline tightened for a third day.
Ethanol slipped as corn tumbled 1.6 percent after Christopher Narayanan, a Societe Generale analyst in New York, said the grain used to make ethanol in the U.S. may be planted on more than the 88.8 million acres reported by the Agriculture Department’s Farm Service Agency. The ethanol-gasoline spread narrowed 0.4 cent to 73.85 cents a gallon.