Spot ethanol prices rallied in a busy cash market Monday amid talk of short-covering and tight supply in Chicago and other key regional trade hubs. There are some logistical woes delaying product deliveries at the Argo terminal in the Chicago market, with short demand also supporting prices, said a source.
Prompt deals done at Argo ranged from $1.88 to a two-year high of $1.9775 per gallon, up 13.75 cents on the day. New York Harbor January barges were pegged at $1.945 for an 8.5-cents gain while Arizona spot prices traded at $1.95 per gallon for an 8-cents gain.
George Orwel can be reached at firstname.lastname@example.org.
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