Ethanol Blog

Argo, NYH Spot Ethanol Gains on Growing Export Demand

Spot ethanol prices edged higher at midday Wednesday despite fresh Energy Information Administration data showing domestic inventories rose last week to a three-week high.

"Higher export demand for U.S. ethanol and domestic gasoline demand as well as short covering are driving the cash market higher," said a trader. Prompt delivered ethanol at the Argo was talked at $1.59 to $1.62 per gallon, up 1.0 cent. New York Harbor September ethanol barges were discussed at a $1.63 to $1.65 per gallon bid/ask, up 0.5 cents, while October barges were seen up 0.5 cents at a $1.615 to $1.645 per gallon bid/ask.

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

(ES)

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