Spot ethanol prices eased in most of the nation's main regional trade hubs except in California where cash prices remained steady during a very thinly traded session Tuesday.
Prompt delivered ethanol prices in Chicago and New York tracked losses in Chicago Board of Trade corn futures and New York Mercantile Exchange RBOB futures.
Today delivered ethanol at the Argo supply hub in the Chicago market traded at $1.45 per gallon, for a 0.5-cent loss. Chicago ethanol traded under Rule 11 for this week shipment was seen at $1.435 per gallon for a 1.0-cent loss.
Sources said the spread between New York Harbor and Chicago area prices narrowed to a 7.5-cent premium from the usual 10.0-cent spread. As a result, September barges at the Harbor were pegged at $1.51 per gallon for a loss of 0.5 cent.
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