Spot ethanol prices extended last week's gains Monday afternoon, rising between 2.25 cents and 5.5 cents on the back of a pre-holiday short-covering rally and gains by Chicago Board of Trade corn futures, with corn futures rallying to a three-week high.
Prompt ethanol supply at the Argo terminal in the Chicago market was talked at a $1.53 to $1.54 per gallon bid/ask spread, up 4.5 cents on the day. July fuel ethanol barges at the New York Harbor were discussed at a $1.58 to $1.60 per gallon bid/ask spread, up 2.25 cents on the session. California fuel ethanol for this week shipment was pegged at $1.755 per gallon for a gain of 4.5 cents on the session.
George Orwel can be reached at firstname.lastname@example.org.
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