Ethanol dropped to the lowest price in more than three years, expanding its discount to gasoline, on speculation the corn harvest will enable distillers to increase production of the biofuel. Denatured ethanol for November delivery fell 1.2 cents, or 0.7
U.S. corn planting will expand to cover the second-largest area since World War II this year and still fail to meet demand for feed and ethanol, driving prices to their highest in at least 34 years. Corn will rise 5.7
The surge in grain prices that has been stoking food inflation for months in much of the world is beginning to seep into U.S. supermarkets and restaurants. U.S. food prices will jump between 3% and 4% this year, the U.S.