Biofuels Digest Index dives 3.85 percent on ADM drop, as ethanol recovers
March 21, 2008
The Biofuels Digest Indexâ„¢ (BDI), a basket of public biofuels stocks, dove 3.85 percent yesterday to close at 111.10 as Archer Daniels Midland rocketed downwards, overcoming improvements in ethanol stocks. For the day, Archer Daniels Midland (ADM) fell 4.76 percent to close at $40.18, while among ethanol stocks Verasun Energy (VSE) soared 15.51 percent to $6.63, shaking off a Moody’s downgrade earlier in the week; US BioEnergy (USBE) jumped 13.88 percent to $5.25.
Among small caps, Nova Biosource Fuels (NBF) gained 15.97 percent to $1.38 on news of management changes and new financing. Declines led advances 3 to 2.
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