Spot ethanol prices fell while the values of ethanol compliance credits soared in early trade, reacting differently to fresh data showing total ethanol inventories in the United States extended higher last week to a 10-week high.
Stocks rose on higher imports and lower demand, pressing spot ethanol prices lower in New York and Chicago, though D6 Renewable Identification Numbers traded sharply higher on the perception data by Energy Information Administration may be overestimating available supply and underestimating demand. Any-July ethanol at Argo traded at $2.60 per gallon, down 1 cent, while D6 RINs for 2013 traded at $1.46, up 10 cents.
George Orwel can be reached at firstname.lastname@example.org
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