Spot ethanol prices traded higher in the Chicago cash market early Wednesday afternoon as traders shrugged off the latest data from the Energy Information Administration detailing a 1.1 million bbl or 4.8% jump in domestic ethanol inventory to a record high of 23.8 million bbl during the week ended Jan. 19. Prompt delivered ethanol at the Argo terminal traded at $1.32 and $1.31 gallon for a 1.0cts gain. Rule 11 ethanol for this week shipment traded at $1.31 gallon, up 0.5cts. Prompt delivered ethanol by barge in the New York Harbor was talked up 0.5cts at $1.435 gallon.
George Orwel can be reached at firstname.lastname@example.org.
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