U.S. spot ethanol prices edged up in early trade Wednesday following data showing tight supply across the country, especially in the New York Harbor, California, and Texas markets.
Energy Information Administration data released this morning show U.S. ethanol stocks fell 200,000 bbl or 1.1% to an 18-month low at 16.8 million bbl last week, with supplies along the East Coast at 5.7 million bbl, which is near the 5.6 million bbl all-time low posted the prior week.
A trade source said shipments have been delayed due to scarcity of available railcars. After being valued at $2.91 gallon, a trade source said N.Y. Harbor prices could reach $3.00 gallon before the week is over.
George Orwel can be reached at firstname.lastname@example.org.
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