Spot ethanol prices in Chicago declined in early trade Wednesday after the Energy Information Administration reported an increase in U.S. plant production of ethanol during the week ended Oct. 20. The report showed plant production rose by 20,000 bpd or 2.0% to 1.039 million bpd during the week reviewed, while up 48,000 bpd or 4.8% year-over-year. For the four weeks ended last week, ethanol production averaged 1.009 million bpd, up 26,000 bpd or 2.6%. Prompt supply ethanol at Argo terminal traded at $1.4025 gallon, down 1.75cts, while Rule 11 traded at $1.40 and $1.395 gallon, down 1.50cts.
In renewables trade, source said the renewable credits market rallied, with 2017 D6 ethanol RINs trading at 99cts and $1.0cts for a gain of 5.5cts.
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