Spot ethanol prices were buoyed Friday on increased buying interest in front of the spring maintenance season when production and inventories are expected to decline. While the Chicago market is well supplied, some traders were said to be looking to buy so they can resell product when supply gets tight over the coming weeks.
Prompt Argo delivered ethanol traded at $1.51 and $1.52 per gallon, up 0.25 cent, and a Rule 11 deal for this week shipment changed hands at $1.51 per gallon, up 2.0 cents. New York Harbor was talked at a $1.61 to $1.63 per gallon bid/ask, up 4.5 cents, with March barges at a $1.59 to $1.62 per gallon bid/ask spread.
George Orwel can be reached at firstname.lastname@example.org
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