Ethanol Blog

Spot ethanol prices moved higher Wednesday afternoon, rebounding from losses earlier this week after the Energy Information Administration reported that U.S. ethanol stocks nudged down during the week-ended May 29 to a fresh five-month low.

The gains were modest because the EIA data also showed domestic production rose to a better than four-month high while implied demand tumbled 3.4% from a week earlier. Prompt transfer Argo traded from $1.525 to $1.5375 per gallon for a 1.25-cents gain while New York Harbor in-tank transfer was pegged at $1.64 per gallon for a 1.5-cents gain and Northern California ethanol discussed 2 cents higher at $1.705 per gallon.

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

(ES)

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