Spot ethanol prices reversed higher Thursday on the back of gains for Chicago Board of Trade corn futures and New York Mercantile Exchange RBOB futures. Prompt supply fuel ethanol at the Argo terminal in the Chicago market traded more than a dozen times at $1.45, $1.455, $1.4555, $1.4575, $1.46, and $1.465 gallon for a gain of 1.25cts on the day. In the rail shipment market, ethanol under Rule 11 terms for this week transport traded at $1.435, $1.44, $1.445 and $1.45 gallon, up 1.5cts on the session.
On the East Coast, October barged ethanol at the New York Harbor was assessed at $1.5225 gallon, up 0.75cts on the day, with the upside for the Harbor limited by building supply. PADD 1 East Coast, where ethanol supply increased 900,000 bbl or 13.6% to 7.5 million bbl last week, is at a two-month high, according to the Energy Information Administration.
George Orwel can be reached at firstname.lastname@example.org.
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