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Ethanol Climbs to Six-Week High as Tax Credit Extension Passes

Ethanol futures advanced for an eighth day in Chicago as Congress passed an $858 billion bill extending Bush-era tax cuts and provisions that help support the biofuel industry.

The grain-based additive capped its longest string of advances in six weeks as lawmakers extended a 45-cent incentive to refiners for each gallon of the fuel blended with gasoline and renewed a 54-cent tariff on Brazilian imports.