Ethanol Blog

Spot ethanol prices rose across the board, boosted by a CME corn futures rally linked to short covering, with an advance by NYMEX RBOB futures also lifting cash ethanol values.

"There was some short covering rally when the market opened, though corn is now about to back off since it's come up too strong," said a trader.

Prompt delivered ethanol in northern California traded early afternoon at $1.66 and $1.67 per gallon, up 4.0 cents. Pacific Northwest and Arizona spot prices were pegged at $1.675 per gallon, up 6.5 cents. Prompt ethanol at the Argo terminal near Chicago was valued at $1.525 per gallon, up 1.5 cents. New York Harbor June ethanol barges were talked at $1.60 per gallon, up 2.0 cents.

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

(ES)

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