Spot ethanol prices pared early session losses in Chicago and the New York Harbor during afternoon trade on Monday, but remained under pressure amid talk of limited short-term buying interest and production from domestic plants remains high. The Energy Information Administration's data for the week ended Jan. 12 showed plant production up 65,000 bpd or 6.5% to a 1.061 million bpd three-week high. In the physical market Monday afternoon, prompt delivered ethanol at the Kinder Morgan-operated Argo terminal in the Chicago market traded at least twice at $1.28 gallon, down 0.75cts, with a prompt ethanol barge delivered to the New York Harbor pegged 0.5cts lower at $1.425 gallon.
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