Corn Prices Pressure Ethanol Producers (PEIX) (ADM) (BIOF)
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Corn prices are continuing higher Thursday following several weeks of drought which are ravaging crops across the Midwestern U.S. At last check, futures were up $.054 to $7.894 per bushel on December contracts, the most actively traded.
The higher corn prices will make feeding cattle and hogs more expensive, but ethanol producers are likely to feel a pinch as well, with margins compressing with each cent the commodity rises.
Traders are keeping an eye on companies which utilize corn to the fullest, including:
The higher corn prices will make feeding cattle and hogs more expensive, but ethanol producers are likely to feel a pinch as well, with margins compressing with each cent the commodity rises.
Traders are keeping an eye on companies which utilize corn to the fullest, including:
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