Spot ethanol prices tracked lower with falling Chicago Board of Trade corn futures and New York Mercantile Exchange RBOB futures. The decline in the physical cash market comes despite expectation by traders that supply data for the week-ended Aug. 5 to be released midmorning Wednesday by the Energy Information Administration would show a drop in domestic production, which averaged just over 1.0 million bpd in July.
In cash trade, prompt delivered ethanol at the Argo supply hub in the Chicago market traded at $1.41 per gallon, down 1.25 cents. Chicago ethanol under Rule 11 for this week shipment was talked in a wide $1.39 to $1.425 per gallon range, softening 0.25 cents. New York Harbor August delivered ethanol barges were offered at $1.495 per gallon, down 0.25 cents on the day.
George Orwel can be reached at firstname.lastname@example.org
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