Spot ethanol prices traded lower in Chicago and New York Harbor despite data from the Energy Information Administration released Wednesday morning showing domestic plant production declined for the second straight week.
The market has been closely watching production to see if biorefineries are cutting back output with the approach of the autumn maintenance season. EIA reported plant production dropped 14,000 bpd or 1.3% to 1.033 million bpd during the week-ended Sept. 15, but output is still 5.3% higher than a year ago.
Prompt supply ethanol at the Argo terminal in the Chicago cash market traded at $1.59 and $1.58 per gallon for a loss of 1.5 cents. Any September supply product at Argo traded $1.5775 per gallon, down 0.25 cents. September ethanol at the New York Harbor traded twice at $1.625 gallon, down 2.0 cents.
George Orwel can be reached at email@example.com
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