Spot ethanol prices traded mixed in early trade Monday after last week's lackluster market, with prices for product delivered to California easing on the prospect of more ethanol imports from Brazil in the near term.
Rain in Argentina and Brazil are boosting crop supply, with Brazil likely to use more of its sugarcane output for ethanol production, and could export more of its ethanol to the United States, said analysts.
Prompt ethanol delivered to California traded at $2.575 per gallon, down 2.25 cents on the day, while Chicago and New York Harbor spot ethanol prices edged higher.
George Orwel can be reached at firstname.lastname@example.org.
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