Spot ethanol prices advanced 2.0 cents in the New York Harbor this afternoon, while easing 0.25 cents at the Argo supply hub in the Chicago market. This came after the Energy Information Administration reported ethanol stocks rose last week in the Midwest by 700,000 bbl to a record high for the region of 9.2 million amid reports elevated river levels around Chicago slowed barge movement. East Coast supply fell 500,000 bbl to 7.2 million bbl during the week-ended March 9, EIA showed.
In physical trade this afternoon, prompt delivered ethanol at Argo traded five times during the aftermarket window at $1.4905, $1.4925 and $1.495 gallon. Ethanol railed under Rule 11 terms for this week shipment traded at $1.485 to $1.50 gallon, down 1.0cts. In the NYH, March delivered ethanol barge was assessed at $1.63 gallon.
George Orwel can be reached at firstname.lastname@example.org
© Copyright 2018 DTN/The Progressive Farmer. All rights reserved.