Spot ethanol prices edged higher in Chicago and New York markets in early trade Friday amid short covering ahead of the weekend break and on modest gains for Chicago Board of Trade corn futures.
A source said the Gulf Coast was up since traders looking for ethanol to export to Europe from Houston can't get enough supply due to the shutdown of Abengoa plants.
Prompt delivered ethanol at the Argo supply hub in the Chicago market was talked at $1.49 to $1.50 per gallon, up 0.25 cents. May delivered barges at the New York Harbor traded at $1.5875 per gallon, up 1.75 cents, while Houston spot prices were pegged a penny higher at $1.57 per gallon.
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