Spot ethanol prices traded higher Wednesday in the New York Harbor and Chicago after the Energy Information Administration reported a second straight weekly stock draw from U.S. ethanol supply and an increase in blending activity that offset higher plant production. EIA said domestic fuel ethanol inventories fell 100,000 barrels (bbl) to 22.8 million bbl during the week-ended March 10 while blending activity increased 34,000 barrels per day (bpd) to 911,000 bpd, the highest input rate in 2017.
Prompt delivered ethanol at the Argo terminal in the Chicago market traded at $1.50 and $1.5075 gallon, up 2.25 cents. On the East Coast, March barged ethanol at the New York Harbor was discussed at $1.58 to $1.60 gallon, up 4.0 cents, after the EIA showed supplies in the East Coast eased by 18,000 bbl to 7.8 million bbl.
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