Spot ethanol prices tracked gains for Chicago Board of Trade corn futures, with corn futures rallying after the U.S. Department of Agriculture reported 90 million acres of corn were planted in the United States as of March 1, down 4 million from the prior year.
Prompt ethanol supply at Argo hub in the Chicago market was valued at $1.575 gallon, up 0.5 cent on the session, while ethanol trading under Rule 11 for next week rail shipment was pegged at $1.57 gallon for a gain of 2.0 cents. April barged ethanol at the New York Harbor was assessed at $1.66 gallon for a 0.5 cent session gain.
George Orwel can be reached at firstname.lastname@example.org
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