Spot ethanol prices were mixed in thin early trade today, while the value of tradable ethanol compliance credits reversed higher after federal data showed U.S. ethanol inventories were drawn down while domestic output of the fuel edged higher. Energy Information Administration's data showed production climbed 1.9% to 812,000 bpd, while inventory fell to a 19.4 million bbl near three-month low, with the decline taking place along the East and Gulf coasts.
Argo prompt delivered ethanol was talked at $2.38 gallon, down 1.25 cents on the day, while New York Harbor values edged up 1.25 cents to $2.52 gallon. 2012 RINs traded up 7cts at 44 cents and 2013 RINs traded 8 cents higher 52 cents.
George Orwel can be reached at email@example.com.
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