U.S. spot ethanol prices eased in early afternoon trade Monday after federal data showed a modest increase in total ethanol supplies, with additional pressure coming from weaker corn and RBOB futures.
The Energy Information Administration released data showing fuel ethanol inventories edged up 29,000 bbl during the week-ended Oct. 11 to 15.419 million bbl, 3.6 million bbl or 18.8% lower than supply held during the comparable week year ago. Spot Argo ethanol was seen at a $2.06 to $2.08 per gallon bid/ask, down 1.0 cent, while Chicago ethanol traded under Rule 11 changed hands at $2.08 per gallon.
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