Spot ethanol prices traded lower in the Chicago market and elsewhere, despite Energy Information Administration's latest report showing fuel ethanol supply fell last week by 200,000 bbl to 21.6 million bbl, the lowest since mid-January, while eliminating a year-over-year surplus. PADD 2 Midwest saw its stocks down 200,000 bbl to a six-month low of 7.2 million bbl.
In the market for physical supply, prompt ethanol supply at the Kinder Morgan-operated Argo terminal in the Chicago market traded twice at $1.48 per gallon, down 1.5 cents. In the rail market, fuel ethanol trading under Rule 11 terms for this week shipment traded 1.0 cent lower at $1.48 per gallon.
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