Spot ethanol prices rose Wednesday on the back of higher corn futures and after weekly data showed declines in ethanol inventories and demand while production increased. Prompt delivered ethanol at the Argo supply hub in the Chicago market traded at $1.60 gallon, up 1.75cts. Chicago ethanol under Rule 11 for this week traded up 1.75cts at $1.585 gallon. This week delivered ethanol in California was offered at $1.785 gallon for a 3.0cts gain. In the Southwest, spot Arizona ethanol initially traded at $1.64 gallon although it was later pegged at $1.71 gallon.
George Orwel can be reached at firstname.lastname@example.org.
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