Spot ethanol prices extended gains Thursday, with Chicago and New York Harbor trading to 4 1/2 month highs on the back of falling supply, rising demand and higher Chicago Board of Trade corn futures and RBOB futures on the New York Mercantile Exchange.
Prompt delivered fuel ethanol at Argo in the Chicago market traded a dozen times this afternoon at $1.48 and $1.4825 per gallon, up 3.30 cents, while February delivered supply by barge at the Harbor was seen at $1.575 per gallon for a 3.0-cent gain. On the West Coast, next week shipment to Northern California was pegged at $1.70 per gallon for a 5.0-cent gain.
George Orwel can be reached at email@example.com
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