Biofuels stocks were up strongly this morning as diversified companies such as Archer-Daniels-Midland (ADM) and Andersons (ANDE) rose between 0.5 and 2 percent in early trading. ADM opened its Velva biodiesel plant today, marking its entrance into the US biodiesel business. Pure-play Big Ethanol stocks such as VeraSun Energy (VSE) were off slightly this morning after strong trading yesterday.
The Biofuels Digest Index, a basket of publicly traded stocks, rose 1.47% yesterday to 100.73, its highest point since September 6 and three percent below its all-time high. Strong performances by Archer-Daniels-Midland, up 1.,59 percent to $33.93, Pacific Ethanol, up 1.41% to $9.33, VeraSun (VSE), up 1.17% to $12.12, and Aventine, up 1.17% to $10.37, led the strong day for the sector. Losers and gainers were even in the day’s trading.
Stock futures were up for all major indices around 0.3 percent this morning as strong corporate earnings reports helped in the broader markets.
Yesterday, the Biofuels Digest Indexâ„¢, a basket...
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