Spot ethanol prices extended higher Tuesday on worries over tightening product supply and gains by Chicago Board of Trade corn futures ahead of both the Energy Information Administration's weekly ethanol supply report and the U.S. Department of Agriculture's monthly corn supply report.
Trade sources expect both reports to show tight supply for the nation's corn and ethanol. "Traders are prepositioning themselves ahead to the EIA inventory data tomorrow," said a trade source. "It's a strong market," added another trader.
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