Spot ethanol prices extended higher in early trade Thursday amid concerns about tight supply and strong demand for transportation fuels linked to an anticipated jump in travel during the upcoming Labor Day holiday.
Federal data yesterday showed domestic ethanol production fell during the week-ended Aug. 16 to a three-week low at 844,000 bbl while implied demand rose to a six-month high. Prompt delivered ethanol at Argo hub near Chicago was talked at $2.43 gallon, up 2 cents for the day, while August New York Harbor ethanol barge was talked at $2.65 gallon, up 4 cents on the day.
George Orwel can be reached at email@example.com.
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