Spot ethanol prices were lower in Chicago and the New York Harbor Tuesday under pressure from losses in corn futures. Prompt ethanol supply at the Argo terminal in the Chicago market traded at $1.66 per gallon and was then pegged at $1.67 per gallon, down 0.75 cents. November ethanol barges at the New York Harbor were talked at a $1.77 to $1.79 per gallon bid/ask, down 0.5 cents.
The retreat in the key Chicago market coincided with a rally for Renewable Identification Numbers. D6 RINs created in 2016 spiked 5.25 cents on the session following trades from 91.0 cents to 95.0 cents with no clear reason for the surge, said trade sources. 2015 D6 originated RINs held parity with 2016. The Environmental Protection Agency is expected to announce finalized 2017 Renewable Fuel Standard volume requirements by Nov. 30.
George Orwel can be reached at firstname.lastname@example.org.
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