Spot ethanol prices rose in Chicago and New York after the U.S. Energy Information Administration reported ethanol inventories plunged 599,000 bbl during the week-ended Oct. 23 to a 10-month low of 18.273 million bbl, while demand increased 18,000 bpd to a two-month high of 915,000 bpd.
Prompt Argo ethanol traded at $1.60, $1.605 and $1.61 per gallon, up 2.5 cents on the day. A New York Harbor November barge was talked 0.5 cent higher on the day at a $1.70 to $1.72 per gallon bid/ask.
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