Spot ethanol prices edged higher Tuesday as part of an early rebound in commodities, with New York Mercantile RBOB futures and Chicago Board of Trade corn futures gaining after Monday's plunge.
Corn futures were supported by the USDA's export sales report for the week-ended July 23 that indicated an increase of 63%. Traders now await a weekly ethanol supply report due out Wednesday from the Energy Information Administration.
Prompt ethanol at Argo terminal traded at $1.49 per gallon, up 1.0 cent. August ethanol barge at the New York Harbor was pegged at $1.57 per gallon, up 1.0 cent. Prompt shipment of ethanol to northern California traded at $1.66 per gallon, up 1.0 cent.
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