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Biofuels Digest Index plummets 9.78 percent to all-time low of 93.66 as corn fears fuel ethanol flight

June 13, 2008

The Biofuels Digest Index™ (BDI), a basket of public biofuels stocks, fell 9.78 percent to an all-time low of 93.66 as downgrades caused investors to flee agribusiness and ethanol stocks over rising corn price concerns. Archer Daniels Midland (ADM) fell 10.09 percent to $33.52 to lead the agribusiness free fall, while Pacific Ethanol (PEIX) lost 14.75 percent to close at $2.37 and lead the ethanol rout. Among small caps. Green Energy Resources (GRGR.PK) lost 30.00 percent to close at $0.07. Overall, declines led advances 3 to 1 for the day.

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    Written by Jim Lane · Filed Under Biofuels Digest Index (BDI) 

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