Ethanol Blog

A bearish U.S. Department of Agriculture crop report released this afternoon estimating higher corn supplies in the United States than previously thought prompted selling in corn and ethanol markets.

May spot ethanol at the Kinder Morgan-operated Argo terminal are valued 4.5 cents lower at $2.66 gallon, while May New York Harbor ethanol traded 5.5 cents lower at $2.80 gallon.

The WASDE report estimated 2012-13 ending corn stocks at 759 million bushels compared with market forecasts at 757 million bushels. For the 2013-14 crop production is estimated at 14.14 billion bushels, 31.2% higher year-on-year.

George Orwel can be reached at george.orwel@telventdtn.com.

(ES)

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