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.
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