Corn Continues Bullish Push
Today's biggest stories surrounding the sector:
- Corn continued its push into uncharted territory today as March corn on the CBOT settled 9.4 cents higher to $5.55 per bushel. The rise was due to spillover support from soybeans, crude oil, silver and gold. The cost for corn has recently become a much greater problem for ethanol producers as VeraSun - at its Aurora plant - bought its corn today for a frightening $5.33 per bushel. Ethanol futures, however, managed to overshadow the record-setting gain by climbing 4.1 cents to $2.401 per gallon (Remember: 1 gallon of ethanol = 2.8 bushels of corn).
- Corn continued its push into uncharted territory today as March corn on the CBOT settled 9.4 cents higher to $5.55 per bushel. The rise was due to spillover support from soybeans, crude oil, silver and gold. The cost for corn has recently become a much greater problem for ethanol producers as VeraSun - at its Aurora plant - bought its corn today for a frightening $5.33 per bushel. Ethanol futures, however, managed to overshadow the record-setting gain by climbing 4.1 cents to $2.401 per gallon (Remember: 1 gallon of ethanol = 2.8 bushels of corn).
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