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 Falls Second Day on Economic Pessimism, Corn Decline

Don't Miss Out —
Follow us on:

June 21 (Bloomberg) -- Ethanol fell for a second day in Chicago, following corn lower, on concern that the global economy is slowing.

Futures declined after reports showed manufacturing in the U.S., China and Europe slumped and as sales of existing homes fell in May to a level lower than analysts had expected.

“All commodities were feeling the pain today and ethanol is being dragged off the cliff with the rest of them,” said Peyton Feltus, president of Randolph Risk Management in Dallas.

Denatured ethanol for July delivery slid 3.4 cents, or 1.6 percent, to $2.055 a gallon on the Chicago Board of Trade. Prices have fallen 6.7 percent this year.

In cash market trading, ethanol was unchanged in New York at $2.125 a gallon and on the West Coast at $2.155, according to data compiled by Bloomberg.

Ethanol in Chicago slumped 4 cents, or 1.9 percent, to $2.045 a gallon and in the U.S. Gulf the additive slipped 1 cent to $2.125.

Corn futures for December delivery declined 2.9 percent to settle at $5.50 a bushel on the CBOT, the biggest drop since June 5, on speculation that cooler weather and rain in the Midwest will aid crop development.

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.