Spot ethanol prices tumbled amid easing supply concerns and expiry-related trade ahead of the April futures contract expiration Thursday afternoon. The Energy Information Administration reported Wednesday domestic ethanol supply rose last week to a three-week high, with supplies rising in the Midwest and along East Coast, while demand eased from a three-month high.
Prompt delivered ethanol at the Argo supply hub near Chicago was talked at a $2.70 to $2.80 per gallon bid/asks spread, down 65.0 cents. Prompt delivered barge at the New York Harbor traded at $3.15 per gallon, down 30.0 cents.
George Orwel can be reached at email@example.com.
© Copyright 2014 DTN/The Progressive Farmer. All rights reserved.