Spot ethanol prices tumbled Tuesday under pressure from a selloff by New York Mercantile Exchange October RBOB futures and lower Chicago Board of Trade corn futures triggered by weak manufacturing data in China.
Ethanol traders now await a weekly ethanol supply and demand report due out Wednesday from the Energy Information Administration. Prompt ethanol at Argo was talked at a $1.43 to $1.45 per gallon bid/ask for a 1.5-cents loss. New York Harbor September ethanol barges were talked at a $1.51 to $1.53 per gallon bid/ask, down 2.0 cents on the day, while this week transfer ethanol in northern California traded at $1.60 per gallon for a 6.0-cents loss.
George Orwel can be reached at email@example.com
© Copyright 2015 DTN/The Progressive Farmer. All rights reserved.