Spot ethanol prices rose in the New York Harbor amid talk of a tight regional market, while short-term buying interest has increased ahead of the three-day New Year holiday weekend.
A trade source said this week's snowstorm in northern Pennsylvania hindered rail shipments. Trains from Chicago to the East Coast were unable to pass through Erie County, Pa., and other areas that received record-breaking 65 inches of snow. "It's pretty bad in Pennsylvania ... we've got 50 rail cars coming back because they can't pass," said a source.
The Energy Information Administration said ethanol supply along the East Coast fell 13,000 bbl last week to a two-week low of 6.914 million low bbl.
In physical trade, January barge delivery at the New York Harbor was talked at $1.425 gallon for a 1.0cts gain on the session, with some offers coming in at $1.44 gallon for a 13.0cts premium to Chicago. February delivered supply was seen unchanged at $1.42 gallon.
George Orwel can be reached at firstname.lastname@example.org.
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