Physical ethanol prices in regional spot markets were flat to lower while June futures reversed to the downside early Friday afternoon ahead of contract expiration in a lifeless market ahead of the weekend. "It's dead quiet," said one trader.
In front of market-on-close trade, June ethanol futures on the Chicago Board of Trade dipped 0.7 cents to $1.675 per gallon ahead of its expiration this afternoon after trading Thursday at a $1.70 one-year high on the spot continuation chart. July delivery was up 1.0 cent at $1.670 per gallon, moving closer to parity with June.
Chicago June swaps traded at $1.655 per gallon, with August swaps done at $1.625. July swaps were talked either side of $1.64 per gallon.
Brian Milne can be reached at firstname.lastname@example.org
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