Spot ethanol prices pared gains in Chicago, reversed lower in the New York Harbor, and maintained gains in California after the Energy Information Administration released a mixed supply report late morning.
The report showed a surge in domestic ethanol fuel inventories for the week-ended July 1 while production fell and blender inputs, a proxy for demand, rose to a new record high.
Prompt delivered ethanol at the Argo supply hub in the Chicago market traded at $1.57 per gallon, up 0.5 cent for the day. Chicago ethanol under Rule 11 for this week was unchanged at $1.55 per gallon. July New York Harbor ethanol barges traded at $1.62 per gallon, down 1.5 cents on the day, with August barges sold at the same level. Northern California was pegged at $1.77 per gallon, up 2.5 cents on the day, while Nevada ethanol traded at $1.70 per gallon.
George Orwel can be reached at email@example.com
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