Spot ethanol prices declined in the New York Harbor and at the Argo terminal in the Chicago cash market, pressured by data from the Energy Information Administration showing domestic and regional fuel ethanol inventories increased in the week ended Feb. 2. EIA reported fuel ethanol inventories rose 500,000 bbl or 2.2% to 23.5 million bbl last week, with supply along the East Coast jumping 500,000 bbl to 8.0 million bbl, while up 200,000 bbl in the Midwest to 8.4 million bbl.
In physical trade, prompt delivered ethanol at Argo traded once during the aftermarket this afternoon at $1.395 gallon for a 2.0cts loss. February delivered ethanol by barge at the Harbor was pegged at $1.50 gallon for a 3.0cts loss on the day. Trade volume was thin, said one source.
George Orwel can be reached at firstname.lastname@example.org.
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