Spot ethanol prices moved higher in Wednesday afternoon trade after the U.S. Energy Information Administration reported a drop in weekly ethanol stocks, with higher RBOB futures offsetting lower corn futures and adding to the gains for ethanol prices.
EIA said ethanol stocks fell 1.9% to an 8 1/2-month low of 18.291 million bbl last week despite domestic ethanol output rising 3,000 bpd to 961,000 bpd, and blender inputs, a gauge for ethanol demand, declining 2.0% to a 3-1/2 month low of 878,000 bpd.
Prompt ethanol at the Argo supply hub near Chicago was valued at $1.53 per gallon, up 0.25 cents. September New York Harbor barges were talked at $1.61 per gallon, up 2.0 cents. Arizona ethanol traded at $1.65 per gallon, up 1.0 cent.
George Orwel can be reached at firstname.lastname@example.org.
© Copyright 2015 DTN/The Progressive Farmer. All rights reserved.