Ethanol Plunges Amid Disagreement Over Tax Credit Extension
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Ethanol futures tumbled to an eight-week low in Chicago as factions of U.S. lawmakers split on whether to extend the blending tax credit.
The biofuel slumped a third time this week less than a month before the expiration of the 45-cent tax credit and 54-cent import tariff. Refiners receive the tax credit for each gallon of ethanol blended into gasoline.