Ethanol Blog
Spot Ethanol Lifted by Corn Futures Rally on USDA Data
Spot ethanol prices rose Friday afternoon in Chicago, New York Harbor and along the West Coast on pre-weekend short-covering and higher Chicago Board of Trade corn futures. CBOT July corn futures rallied 10.0 cents to $3.70 bushel after the USDA lowered estimated planted corn acreage.
Traders also are concerned a forecast for dry weather could dent corn yields.
Prompt supply ethanol at the Kinder Morgan-operated Argo terminal traded at $1.4875 gallon, up 1.25 cents, while July ethanol barges at the New York Harbor were pegged at $1.56 gallon, up 1.0 cent. Prompt delivered ethanol supply in California was seen at $1.71 for a 6.0-cent gain on the day.
George Orwel can be reached at george.orwel@dtn.com.
(TN)
© Copyright 2017 DTN/The Progressive Farmer. All rights reserved.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Comments
To comment, please Log In or Join our Community .