Spot ethanol prices soared to a 3 1/2 month high in Chicago amid concerns over tight supply at the Kinder Morgan-operated Argo hub while New York Harbor spot values eased during a choppy session Tuesday after product deliveries this week, sources said, adding the market is awaiting federal supply data due out tomorrow.
Prompt transfer ethanol at Argo traded at a $2.63 per gallon, up 8 cents while New York Harbor prompt delivered ethanol was discussed at $3.50 per gallon, down 5 cents on the day. In paper trade on Chicago Board of Trade, the April ethanol futures contract soared 8.7 cents to $2.53 per gallon, near $2.534, a 6 1/2 month high on the spot continuation chart.
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