Spot ethanol prices extended last week's losses into the New Year with talk that the cash market is under pressure from a lack of short-term buying interest, with export demand easing and supply rebuilding in the Midwest. Prompt delivered ethanol at the Argo terminal in the Chicago market was quoted at $1.610 per gallon for a loss of 0.5 cent on the day. In the rail market, this week delivered ethanol under Rule 11 terms traded at $1.57 per gallon, down 6.5 cents on the day. January ethanol barges in the New York Harbor were talked at a $1.69 to $1.71 per gallon bid/ask for a loss of 2.25 cents on the day.
George Orwel can be reached at email@example.com.
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