Ethanol Blog
Spot Ethanol Prices Track Corn Futures Higher
By
George Orwel
U.S. spot ethanol prices traded sharply higher during an active session Thursday. This tracked gains by Chicago Mercantile Exchange corn futures after a new USDA report outlined a tight wheat market while weather forecasts called for warmer-to-drier conditions during the next two days, according to analyst Christian Meyer at Northstar Commodity Investor Co. in Minneapolis, Minn.
Prompt ethanol at Argo near Chicago traded at $2.55 gallon, up 4.0 cents. Ethanol for late July barge transit to the New York Harbor was talked at a $2.67 to $2.69 gallon bid/ask, up 9.0 cents.
George Orwel can be reached at george.orwel@telventdtn.com.
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