Cash ethanol in Chicago and New York Harbor traded lower early Tuesday amid talk of ample supply at the regions' two main storage terminals, with a substantial amount of swap trades reported done as traders hedged ahead of a weekly supply report set for release at 10:30 a.m. ET Wednesday by the U.S. Energy Information Administration, traders said.
Prompt delivered ethanol at the Argo terminal in the Chicago market traded early at $1.48 per gallon, down 2.25 cents on the day, with any March delivered product trading at $1.50 and $1.505 per gallon.
In the rail market, ethanol traded under Rule 11 for this week shipment changed hands at $1.48 per gallon, down 1.0 cent on the day. On the East Coast, March barged ethanol at the New York Harbor traded at $1.565 per gallon, down 1.0 cent on the session.
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