Spot ethanol prices in Chicago and the New York Harbor moved higher in a thinly traded session Friday, supported by advancing Chicago Board of Trade corn futures and New York Mercantile Exchange RBOB futures, with federal data showing a steep drop in fuel ethanol inventories also raising supply concerns ahead of the weekend break.
Prompt ethanol supply at the Argo hub in the Chicago cash market was talked at a $1.6575 to $1.665 per gallon bid/ask for a gain of 2.87 cents. Chicago ethanol supply traded under Rule 11 for prompt shipment changed hands at $1.62 per gallon, up 0.75 cents on the session. October ethanol barges at the New York Harbor were talked at a $1.69 to $1.70 per gallon bid/ask, up 1.0 cent. November Harbor barges traded at $1.66 per gallon.
George Orwel can be reached at firstname.lastname@example.org.
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