Ethanol Blog

Spot ethanol prices nosedived by double-digits Thursday as buying interest dried up and a new USDA report raised estimates for corn supply, the feedstock for ethanol.

The report hiked the USDA's corn production forecast 363 million to a record 14.395 bushels, raised the corn yield forecast 4.3 to a record 171.7 bushels an acre while upping ending stocks estimate by 194 million bushels to 2.002 billion bushels, a 10-year high.

Today in-tank transfer ethanol at the Argo hub was pegged at a $1.86 to $1.88 per gallon bid/ask, down 12.0 cents on the day. New York Harbor October delivered ethanol barge was talked at a $1.80 to $1.82 per gallon bid/ask spread without a trade done, down 14.5 cents.

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

(ES)

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