Ethanol Climbs as Overseas Corn Demand Signals Higher Costs
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Ethanol futures climbed in Chicago as overseas demand for corn signaled higher production costs for the biofuel.
Prices rose along with corn after the Agriculture Department said sales of the grain for delivery before Aug. 31, 2013, were more than double the level a week earlier. In the first three days of this week, the department reported sales to China and unknown destinations totaling 1.28 million metric tons. Ethanol in the U.S. is derived from corn.