Spot ethanol prices traded lower Friday in the Chicago market amid pressure from a force majeure declared on loadings in Chicago that could last until Monday.
The disruption has been caused by heavy rains that slowed barge movement on the Chicago River, affecting prompt supply at the Argo terminal and ethanol traded under Rule 11 terms for this week's shipment, a source said.
It comes a day after the Energy Information Administration released data showing ethanol stocks in the Midwest increased by 100,000 bbl, or 1.2%, to 8.3 million bbl last week and 200,000 bbl, or 2.5%, higher than a year ago.
Argo prompt supply in the Chicago market traded at $1.465 and $1.4675 per gallon for a 2.0-cent loss. February anys (any delivery) traded three times at $1.47 and $1.4775 per gallon, and March anys were seen at $1.4875 per gallon. Rule 11 ethanol for this week transport traded at $1.465 per gallon, down 0.5 cent.
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