19 September 2012 22:01 [Source: ICIS news]
HOUSTON (ICIS)--US industrial ethanol producers said on Wednesday they may not announce any price increases for the fourth quarter as previously expected because of a recent decline in corn prices.
Market participants had said in August that they expected producers to announce price increases of about 30-40 cents/gal for the fourth quarter because many producers did not get the full increases they had sought for the third quarter.
Third-quarter contract settlements ranged from rollovers to the full 75 cent/gal increase sought by sellers.
Third-quarter industrial ethanol contracts increased because of record-high corn prices during the summer months, which were brought on by the severe drought in the US midwest.
Third-quarter 200 proof industrial ethanol contracts were settled at $4.12-4.22/gal, while 190 proof contracts settled at $3.92-4.02/gal.
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