Ethanol Blog
Spot Ethanol Prices Rally in Limited Discussion
Spot ethanol prices rallied in notional values but discussions ground to a halt Thursday as market participants clamped down after federal data came out showing an increase in domestic ethanol supplies.
Traders dismissed the supply data, saying a lack of rail capacity and a winter snowstorm in the Midwest has made it difficult to ship supplies to the West Coast and other destinations.
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"[There's] not a car to be found," said a trader.
Prompt California ethanol offered at $2.50 per gallon, up 9.5 cents, while Argo prompt ethanol was talked at $2.35 per gallon for a 10.5 cents gain.
George Orwel can be reached at george.orwel@telventdtn.com
(ES)
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