Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Ethanol Falters for Third Day on Record Production, Ample Supply

Dec. 13 (Bloomberg) -- Ethanol futures faltered for a third day in Chicago amid record production and ample inventories.

Futures have fallen 3.2 percent since a Dec. 7 Energy Department report showed ethanol production at a record 954,000 barrels a day in the week ended Dec. 2 and stockpiles at 17.9 million barrels, the highest since Aug. 19.

“There’s a lot of sellers right now and not a lot of buyers,” said Jim Damask, a manager at BiofuelsConnect, a Jupiter, Florida-based alternative energy broker. “There’s plenty of material to be bought.”

Denatured ethanol for January delivery fell 0.3 cent to $2.111 a gallon on the Chicago Board of Trade, the lowest price since Dec. 10, 2010. Futures have fallen 11 percent this year, heading for the first yearly decline since 2008.

In cash market trading, ethanol in the U.S. Gulf slipped 7.5 cents, or 3.1 percent, to $2.375 a gallon and on the West Coast the additive decreased 5 cents, or 2 percent, to $2.40, according to data compiled by Bloomberg.

Ethanol in New York increased 3 cents, or 1.2 percent, to $2.45 a gallon and in Chicago the biofuel added 2.5 cents, or 1.1 percent, to $2.325.

To contact the reporter on this story: Mario Parker in Chicago at mparker22@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.