Ethanol Blog

Spot ethanol prices rallied midweek, with cash values rising to two-week highs at the New York Harbor and Kinder Morgan-operated Argo terminals near Chicago after fresh federal data showed total domestic inventories fell to a five-week low last week, as imports slid.

Prompt New York Harbor ethanol was talked at a $2.55 to $2.60 gallon bid/ask spread, up 2.5 cents on the day, while prompt Argo ethanol prices was talked at $2.31 gallon, up 4.0 cents on the day. Chicago ethanol traded under Rule 11, which represents product for shipments to the East and Gulf coasts, traded at $2.36 gallon, up 7.0 cents on the day. "The market is going ballistic today," said a trader.

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

© Copyright 2013 DTN/The Progressive Farmer. All rights reserved.