A trade source said today Abengoa SA's shutdown last week of two ethanol processing plants in Nebraska has reduced the volume of product being shipped to the West Coast, and boosted bids for prompt ethanol in California hubs.
January delivered ethanol in northern California is assessed at $2.58 gallon, up 1 cent on the session, though actual trades were hard to come by because of a lack of cargoes.
"Plants in Nebraska are shutting down, which is why we are not seeing physical ethanol trade for the West Coast," said one broker.
George Orwel can be reached at email@example.com
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