Spot ethanol prices eased in the Chicago area and at the New York Harbor, coming under pressure from falling corn futures on the Chicago Board of Trade amid a forecast for higher supplies, with wet weather seen easing stress on crops in the Great Plains of the United States.
Today transfer ethanol at the Argo hub near Chicago was discussed at a $2.26 to $2.27 per gallon bid/ask, down 1.0 cent on the day. May New York Harbor was seen at a $2.26 to $2.30 per gallon bid/ask, down 1.0 cent. Traders await weekly ethanol supply data due out Wednesday.
George Orwel can be reached at email@example.com
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