Ethanol Blog
Argo, NYH Spot Ethanol Prices Slide on Profit Taking
By
George Orwel
Spot ethanol prices eased Friday amid profit taking ahead of a key crop report due next week that's expected to provide an outlook on corn supply in the United States.
Prompt Argo ethanol traded early at $2.54 gallon, down 3.0 cents on the session, while prompt New York Harbor ethanol was assessed at $2.66 gallon, down 4.0 cents on the day.\
"Buyers are now waiting to see what's in the inventory report while sellers are selling ... taking profits before the report," said analyst Phil Flynn at Price Futures Group.
George Orwel can be reached at george.orwel@telventdtn.com.
(ES)
© Copyright 2013 DTN/The Progressive Farmer. All rights reserved.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Comments
To comment, please Log In or Join our Community .