Spot ethanol prices declined for the second session running Tuesday on a dearth of demand, while supplies are expected to continue rising and the value of tradeable renewable fuel credits were up.
"[Traders] have already bought what they need and we are getting some imports as well," said a source. Prompt delivered ethanol at the Argo hub near Chicago was assessed at $1.56 per gallon, down 1.5 cents. New York Harbor November barges were talked 3.0 cents lower, at a $1.64 to $1.68 per gallon bid/ask spread. Prompt delivered ethanol in the Phoenix hub in Arizona was pegged at $1.715 per gallon, down 2.0 cents.
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