Spot ethanol prices in Chicago traded 3.0 cents lower Wednesday after the Energy Information Administration reported fuel ethanol stocks increased by roughly 300,000 bbl to 23.4 million bbl last week, 10.9% higher than year prior, even as blending demand climbed 23,000 bpd to a near one-year high of 951,000 bpd. Midwest ethanol stocks rose by nearly 200,000 bbl to 8.1 million bbl.
Prompt supply fuel ethanol at the Kinder Morgan-run Argo terminal in the Chicago cash market traded at $1.40 per gallon for a loss of 3.5 cents on the day. In the rail market, ethanol under Rule 11 terms for shipment this week was talked at a $1.365 to $1.38 per gallon bid/ask spread, down 6.75 cents on the session.
George Orwel can be reached at firstname.lastname@example.org.
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