Spot ethanol prices for Chicago terminal declined midday Wednesday in reaction to data from the Energy Information Administration. EIA showed a regional inventory gain while domestic plant production, concentrated in the Midwest, reached an 18-week high to 1.064 million bpd during the second week of June.
EIA reported Midwest PADD 2 ethanol stocks rose 339,000 bbl to 7.7 million bbl during the week-ended June 15, which are 1.3% higher than the same week in 2017.
Prompt delivered ethanol at the Kinder Morgan-operated Argo terminal traded at $1.380 per gallon, down 0.5 cents, while any-June traded at $1.385 per gallon. Intraday Tuesday, spot values at the key Chicago hub slid to a 4 1/2-month low of $1.37 per gallon before ending the session at $1.385.
Dawn Gallagher can be reached at email@example.com
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