Spot ethanol prices traded flat to higher in various regional trade hubs, holding firm despite lower corn futures on the Chicago Board of Trade.
A trade source said EPA's decision to relax fuel standards contributed to increased demand for ethanol blending in the short term. EPA waived certain federal requirements under the Clean Air Act for the sale, production and blending of gasoline to avoid supply shortfalls in the aftermath of hurricanes Harvey and Irma in Texas and Florida.
Prompt supply ethanol at the Argo terminal in the Chicago cash market was valued flat at $1.59 per gallon. In the rail shipment market, ethanol traded under Rule 11 terms changed hands at $1.57 per gallon, up 1.0 cent, while September barged ethanol at the New York Harbor was pegged unchanged at $1.655 per gallon. In Houston, prompt delivered ethanol was seen at $1.64 per gallon, 1.0 cent higher.
George Orwel can be reached at firstname.lastname@example.org
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