Corn Basis Levels Strengthen at Ethanol Plants
Submitted by Biofuels Digest Blog
With corn futures prices increasing over the last week, ethanol plants strengthened basis levels in most of the major ethanol-producing states. Ethanol profit margins have weakened significantly over the last several weeks, likely pushing many plants into a net-loss situation. With light corn movements expected over the next couple weeks, it is likely that basis levels paid by ethanol plants may continue to strengthen in order to acquire enough corn to keep plants running at capacity without depleting inventory levels.
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