Spot ethanol prices were mixed early Thursday afternoon, with modest changes for ethanol stocks, production and blending demand for the week-ended May 26 reported late morning by the Energy Information Administration brushed aside.
Trade sources said traders were sitting on the sidelines, adding that "everyone's waiting for the announcement today by President Donald Trump on the Paris agreement."
He said Trump's decision would indicate whether the United States would pursue policies injurious to fuel ethanol, including scaling back rules regulating operation of ethanol plants, although acknowledged there's likely to be no immediate impact.
In cash trade, prompt ethanol supply at the Argo hub in Chicago cash market was talked at a $1.52 to $1.54 per gallon bid/ask for a 1.0-cent gain. In the rail transport market, ethanol under Rule 11 terms was assessed at $1.54 per gallon, up 2.0 cents. June fuel ethanol barges at the New York Harbor were seen at a $1.58 to $1.59 per gallon bid/ask for a 0.5-cemt loss.
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