Ethanol Rises for Second Day as Brazil’s Sugar Harvest Nears End

Ethanol futures in Chicago climbed against gasoline for a second day as Brazil’s sugarcane harvest neared its end.

The biofuel, made from corn in the U.S. and from sugarcane in Brazil, gained as industry association Unica said sugar mills in Brazil’s sugarcane belt will begin to shut down in the coming weeks. The mills crushed 42 percent more cane in the first half of November than they did a year earlier.