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| I used to think like this as well IN555, then an ethanol trader had the correlation between ethanol and other markets…. Ethanol and rbob had a 10% correlation, while ethanol and corn was something like 70%. Long story short, as stupid as it sounds, ethanol and crude oil markets seem to be pretty unrelated historically. If it was truly a competitive market without the RINS and the oil companies disdain for ethanol things might be different.
Edit to add corn can go as low as it needs to to find demand
Edited by SteigerMan310 6/30/2024 18:37
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M2M
