Spot ethanol prices fell Wednesday after the U.S. Energy Information Administration issued data showing ethanol production and stockpiles both increased last week and despite blender inputs, a proxy for demand, climbing to a fresh record high.
Prompt delivered ethanol at the Argo supply hub in the Chicago market traded 1.25cts lower at $1.595 gallon. Chicago ethanol under Rule 11 for this week shipment was valued at $1.57 gallon, down 4.0cts and is expected to ease further. July New York Harbor ethanol barges were talked at a $1.655 to $1.665 gallon bid/ask, down 0.75cts, giving back gains from the prior session.
George Orwel can be reached at firstname.lastname@example.org.
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