Ethanol Blog
Argo, Arizona Spot Ethanol Rebound on Short Covering
By
George Orwel
Spot ethanol traded higher Tuesday in Chicago and Arizona as some traders moved to cover their short positions ahead of federal weekly supply data due Nov 26 and the Thanksgiving Day holiday Nov. 27. Demand is seen improving while recent data showed inventories drawn down, with logistical woes also delaying product delivery to some key hubs.
Prompt delivered Argo ethanol traded twice at $2.70 per gallon for a 6.0-cents gain while prompt delivered ethanol to Phoenix, Arizona traded at $2.71 per gallon for a 7.0-cents gain.
George Orwel can be reached at george.orwel@telventdtn.com
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