Ethanol Blog
Spot Ethanol Prices Tumble on Rising Domestic Supply
U.S. spot ethanol prices fell sharply in early Wednesday trade amid easing supply concerns after EIA data showed total U.S. fuel ethanol inventories climbed another 300,000 bbl or 2.1% last week to a 15.4 million bbl six-week high, as domestic production spiked to the highest level since the start of 2012.
New York Harbor barged December ethanol was pegged 1.5 cents lower at $3.42 to $3.45 per gallon bid/ask while today transfer ethanol at Argo terminal near Chicago traded at $2.45 per gallon and was last seen at a $2.40 to $2.44 per gallon bid/ask spread, down 10.5 cents.
George Orwel can be reached at george.orwel@telventdtn.com.
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