Spot ethanol prices traded higher in the Midwest, Arizona, and New York early Thursday, boosted by talk of tighter physical supply availability while demand grew, a trade source said. It comes a day after the Energy Information Administration detailed ethanol production fell to the lowest level in nine weeks, down 0.8% to 965,000 bpd for the week-ended July 24, while implied demand rose 0.7% to a three-week high of 903,000 bpd. July Argo ethanol traded at $1.495 gallon, August Argo ethanol traded at $1.505 gallon, up 1.0cts. Chicago ethanol under Rule 11 traded at $1.50 gallon, up 3.0cts. Arizona spot ethanol traded at $1.64, $1.65 gallon and was then pegged at $1.66 gallon for a 1.0cts gain, while a New York Harbor barge was offered at $1.60 for 1.5cts gain.
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