U.S. spot ethanol prices rose in New York and Chicago Monday afternoon after a U.S. Department of Agriculture report lowered projected ending stocks for the current corn crop, while upping projected corn exports from U.S. producers. Aside from the report, which was considered mildly bullish, ethanol prices continued to be supported by tight supply. Today transfer ethanol at the Argo hub near Chicago was talked wide at a $1.95 to $2.03 gallon bid/ask spread, traders said, up 4.0cts on the day. On the New York Harbor, an ethanol barge for prompt delivery was talked at a $2.45 to $2.50 gallon bid/ask spread, up 2.5cts on the day.
George Orwel can be reached at email@example.com.
© Copyright 2014 DTN/The Progressive Farmer. All rights reserved.