Spot ethanol prices were discussed lower early Thursday on continuing concern over building domestic supply and lower Chicago Board of Trade corn futures. Energy Information Administration on Wednesday showed a 6.9% year-on-year fuel ethanol supply surplus, with demand up a modest 0.5% year-on-year.
Prompt ethanol supply at the Argo terminal in the Chicago market was talked at a $1.51 to $1.52 per gallon bid/ask, down 1.88 cents, and to the lowest price this month. In the rail market, ethanol traded under Rule 11 terms for this week shipment was talked at a $1.485 to $1.495 per gallon bid/ask, down 1.0 cent on the session. August barged ethanol at the New York Harbor was pegged at a $1.59 to $1.60 per gallon bid/ask, down 1.5 cents.
George Orwel can be reached at firstname.lastname@example.org.
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