Ethanol Tumbles Third Day on Higher Supply and on Corn Harvest
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Ethanol futures tumbled for a third day as the U.S. corn harvest accelerates and on ample supplies of the fuel from domestic output, stockpiles and imports.
Prices slipped to the lowest level in eight weeks as corn costs dropped and as ethanol output in the week ended Aug. 31, the most recent Energy Department data available, was at 829,000 barrels a day, up 4 percent from July 20, when production fell to the lowest in at least two years, and imports averaged 34,000 barrels a day, compared with none a year earlier.