Spot ethanol prices rebounded Thursday amid concern Wednesday's selloff was overdone in the wake of data showing domestic ethanol supplies are at a three-year low.
Prompt delivered Argo ethanol was seen at $2.55 gallon, up 2.0 cents on the day, while prompt delivered New York Harbor ethanol was talked at $2.67 gallon, up 7.0 cents.
"This is probably a correction back from yesterday's slide," said one trade source.
"I think people realized that what they were doing for the previous three days was not right. Draw in stocks to the lowest level helped them," added another trader.
George Orwel can be reached at email@example.com.
© Copyright 2013 DTN/The Progressive Farmer. All rights reserved.
More Recommended for You
SALEM, Ore. (AP) -- Some folks in Oregon might not want to ask, when served an elk burger or a venison steak, where...
DALLAS (AP) -- Americans are expected to put down the TV remote and hit the road in record numbers for the July 4th...