Ethanol Rises as Corn Climbs on Concern for Smaller Crop
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Ethanol futures increased a second day on concern that the government’s estimate for damage to the corn crop may be too modest after the most severe U.S. drought in 56 years parched fields.
Prices followed corn higher on speculation the Agriculture Department underestimated the crop damage that led it to reduce its harvest projection on Aug. 10 by 13 percent to a six-year low of 10.78 billion bushels this year. The agency forecast that