Ethanol Declines With Corn at Lowest Level Since 2010
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Ethanol dropped as corn touched a three-year low, reducing costs for distillers.
The biofuel fell on speculation that rain in South America will aid corn planting and help boost global supplies of the grain. U.S. ethanol production rose to the highest level since June 2012 last week, according to data from the Energy Information Administration. A bushel of corn yields about 2.75 gallons of ethanol in the U.S.