Chicago and New York Harbor cash ethanol prices and the value of Renewable Identification Numbers declined again on continued bearish sentiment. This was linked to excess supply and regulatory uncertainty after President Donald Trump last week ordered a temporary freeze of recently published regulations by the Environmental Protection Agency, including this year's Renewable Volume Obligation.
Today delivered product at the Argo terminal in the Chicago market traded at $1.43 per gallon and $1.435 per gallon, down 0.75 cents. February barges at the New York Harbor were talked at a $1.50 to $1.52 per gallon bid/ask for a 2.5-cent loss. 2016 and 2017 D6 RINs, primarily generated by production of corn-based ethanol traded at 50.0 cents, down 3.0 cents.
George Orwel can be reached at email@example.com.
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