Spot ethanol prices were discussed higher Wednesday following the release of a report by the U.S. Energy Information Administration showing week-on-week declines for ethanol inventories of 3.0% and by 1.7% for domestic production. EIA said blending demand dipped 0.2%, but was up 3.6% versus a year ago.
Prompt supply ethanol at the Argo hub was seen early at $1.43 to $1.46 gallon, up 3.5cts. May fuel ethanol barges at the New York Harbor were talked at $1.48 gallon, up 0.5cts on the session. In California, this week product shipment was pegged at $1.62 gallon after earlier offers at $1.69 gallon, up 3.0cts.
George Orwel can be reached at email@example.com.
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