CBOT President and CEO Bernard W. Dan said, “The CBOT is pleased with the successful launch our new Ethanol futures contract. The result of close collaboration with producers and refiners, the contract was created to provide a transparent price discovery mechanism and an efficient tool for managing price risk within the ethanol market. The Exchange values its partnership with the various participants in the ethanol industry and looks forward to continuing to develop the innovative spirit that led to the creation of GM’s E85-capable Chevrolet Avalanche and the CBOT’s Ethanol futures contract.”
General Motors’ E85-capable Chevrolet Avalanche can operate on fuel that is a blend of 85 percent ethanol and 15 percent gasoline. General Motors provided the vehicle to the Illinois Corn Growers Association on Wednesday for use in the state as part of a campaign to promote ethanol and E85-capable vehicles. The GM vehicle will be on display at the CBOT plaza until March 31.
GM Executive Director of Powertrain Mark Maher said, “We’re pleased that CBOT has recognized the growth potential in ethanol and that the Illinois Corn Growers Association are working to encourage the production and demand for domestically produced fuel. No manufacturer has done more to promote the use of ethanol than GM and we will continue to work with organizations like the GEC, the Illinois Corn Growers Association and CBOT, today and tomorrow, to promote the use of E85 and the many available benefits for the environment, the economy and consumers.”
Regular trading hours for CBOT Ethanol futures in the open auction market are from 9:30 a.m. to 1:15 p.m. Central Time, Monday through Friday. On the CBOT’s premier electronic trading platform, trading hours are from 7:36 p.m. to 6:00 a.m. Central Time, Sunday to Thursday. The new contract is physically delivered using the most advanced electronic delivery system within the industry.
