Spot ethanol prices continued higher in early trade at the New York Harbor, in Chicago's Argo terminal and in Arizona's Phoenix trade hub.
Prices were supported by the bullish weekly ethanol data by the Energy Information Administration; ethanol fuel inventories were drawn down 3.2% during the week-ended Oct. 23 to a 10-month low of 18.273 million bbl, while demand increased to a two-month high of 915,000 bpd.
Prompt delivered ethanol at Argo traded 0.5 cent higher to $1.595 per gallon, while a New York Harbor November barge was talked 1.0 cent higher at $1.72 per gallon. Arizona spot ethanol traded at $1.76 per gallon, up 1.0cent.
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