Corn Skyrockets/Verenium Wins Grant

Today's biggest stories surrounding the sector:

- March Corn shot up 18 1/4 cents today to $5.43 1/4 per bushel. The rise was due to a record setting rally by both gold($975 per ounce) and oil($102.59 per barrel) as the U.S. dollar fell to a record low against the Euro. Ethanol on the CBOT managed to rise 3.9 cents to $2.359 per gallon. After today's trading, ethanol's crush spread has fallen to $1.17.

Date
CBOT ethanol price
CBOT corn price
Crush spread
February 28th
 $2.36
 $5.43
 $1.17
January 2nd
 $2.42
 $4.62
 $2.15
December 18th
 $2.13
 $4.32
 $1.66
December 15th
 $2.08  $4.38
 $1.44
November 19th
 $1.81 $3.94  $1.12
October 16th
 $1.61 $3.74 $.77
September 1st
 $1.54  $3.69  $.62

-Verenium Corporation (VRNM) was awarded today one of the four grants available by the U.S. Department of Energy to "develop improved enzyme systems to convert cellulosic material into sugars suitable for the production of ethanol." Verenium will receive a nice slice of the $33.8 million available. Earlier in the year, Pacific Ethanol received a similar grant of up to $24.3 million to build a small-scale demonstration plant that will make ethanol out of wood chips.

 

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Comments

  • 2/29/2008 8:19 AM poetryman69 wrote:
    Stop funding the terrorists!

    No more Oil Wars!

    Energy Independence Now!

    Drill in Anwar.

    Build more nuclear power plants

    Use More coal.

    Use more natural gas


    Turn trash into energy


    Double the efficiency of windmills and solar cells.



    If France can do nuclear power so can we.


    If Brazil can do biomass/ethanol power so can we.


    If Australia can do LNG power so can we.


    Domestically produced energy will end the recession and spur the economy.


    Stop paying oil dollars to those who worship daily at the alter of our destruction.


    Preserve our Civil Rights and defend our Freedom by ending dependence on foreign oil.
    Reply to this
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