U.S. spot ethanol prices fell on Wednesday despite what was deemed a bullish weekly ethanol report, while the renewable fuel credit market rallied on concerns imports will decrease after the U.S. Department of Commerce found that Argentinian and Indonesian biodiesel producers violated U.S. anti-dumping law.
Energy Information Administration data showed ethanol stocks fell by 300,000 bbl to 21.5 million bbl in the week-ended Aug. 18. The agency said the United States will impose duties on biodiesel imports into the U.S. from those two countries.
In the cash market, prompt ethanol supply at Argo hub in the Chicago market was seen at $1.52 per gallon, tumbling 4.0 cents.
In the rail market, fuel ethanol traded under Rule 11 terms for this week shipment was pegged at $1.505 per gallon and trading earlier at $1.52 per gallon, down 2.5 cents.
On the East Coast, August barged ethanol at the New York Harbor was pegged at $1.615 per gallon, down a penny on the session.
George Orwel can be reached at firstname.lastname@example.org.
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