U.S. spot ethanol prices were mostly higher Thursday afternoon, rebounding in Nebraska, South Dakota, and along the West Coast after Wednesday's selloff amid "insufficient supply" of fuel ethanol due to the lingering effects of severe weather conditions earlier this week.
"Logistics (due to) cold weather and storm are keeping the prices for rail cars high," said a trader. Chicago ethanol traded under Rule 11, which is for shipments to the Gulf and East coasts, was talked at a $2.51 to $2.55 per gallon bid/ask spread. FOB S.D. prompt transfer ethanol traded at $2.38 per gallon, prompt transfer Nebraska ethanol traded at $2.40 per gallon while prompt Pacific Northwest ethanol was seen 9 cents higher at $2.65 per gallon.
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