The Chicago cash ethanol market continued lower Thursday under pressure from a drop by Chicago Board of Trade corn futures. Meanwhile, the market for renewable credits rallied to one-week highs after profit-taking. This was in the aftermath of the nomination last week of Scott Pruitt to head the Environmental Protection Agency that sent values sharply lower.
Some of the earlier concerns about Pruitt that sent prices spiraling have been quelled.
Prompt delivered ethanol at the Argo terminal in the Chicago market was pegged at $1.90 per gallon, down 1.75 cents on the day, while any December deliveries traded at $1.825 per gallon early and then talked at a $1.75 to $1.78 per gallon bid/ask, down 3.0 cents. In the rail market, prompt supply traded under Rule 11 was pegged at a $1.80 to $1.85 per gallon bid/ask, down 4.5 cents. 2016 and 2017 D6 RINs traded at 95.0 cents, 96.0 cents, 97.0 cents, and $1.00 for an 8.0-cent session gain. 2017 D6 RINs traded at 99.0 cents for a 7.0-cent gain. D4 biomass-based diesel RINs for 2017 traded at $1.18 and $1.19, up 5.0 cents.
George Orwel can be reached at firstname.lastname@example.org.
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