Spot ethanol prices retreated again Thursday amid concerns over high domestic production, said trade sources. Trade volume was very thin, with most traders staying on the sideline and no discussions on ethanol barges for September delivery in the New York Harbor.
September barged ethanol at the New York Harbor was pegged at $1.575 per gallon, down 2.5 cents. Prompt ethanol supply at Argo terminal in the Chicago market was pegged at $1.52 per gallon, down 2.0 cents.
In rail market, ethanol traded under Rule 11 for this week shipment was pegged early at $1.51 per gallon, down 1.0 cent on the session.
In the Southeast, ethanol supply tightened after a railroad company that services the area reduced the number of railcars delivering ethanol to terminals in Alabama, according to a source.
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