Ethanol Blog

Midwest Spot Ethanol Values Buoyed by Short Covering

Midwest spot ethanol prices traded higher Tuesday amid short covering ahead of Wednesday's weekly supply data from the Energy Information Administration that's expected to show a rebound in demand.

The ethanol market was also boosted by a rally by New York Mercantile Exchange RBOB futures while Chicago Board of Trade corn futures have since pared an early rally. Prompt Argo transfer ethanol traded at $1.55 per gallon, up 0.5 cents, while July Argo ethanol traded at $1.53 per gallon. Chicago ethanol traded under Rule 11 was little changed on a trade at $1.555 per gallon while Nebraska spot ethanol traded at $1.465 per gallon for a 1.5-cents gain.

George Orwel can be reached at george.orwel@telventdtn.com

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