Spot ethanol prices were higher Wednesday after the Energy Information Administration reported total fuel ethanol inventories were drawn down 400,000 bbl to a 15-month low at 19 million bbl for the week-ended Oct. 14.
Prompt physical ethanol supply at the Argo hub in the Chicago cash market traded at $1.63 per gallon, and was then talked at $1.63 to $1.64 per gallon bid/ask, up 0.5 cents on the day.
Chicago ethanol supply traded under Rule 11 for prompt shipment was seen $1.615 to $1.625 per gallon bid/ask, up 1.5 cents. Ethanol for this week shipment in northern California was offered at $1.815 per gallon for a gain of 3.5 cents. New York Harbor barges were seen at $1.675 per gallon for a 0.5-cent gain.
George Orwel can be reached at firstname.lastname@example.org
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