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 firstname.lastname@example.org.
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