Spot ethanol prices traded higher in early afternoon trade, extending Thursday's gains amid short covering ahead of the weekend.
Higher RBOB futures on the New York Mercantile Exchange also boosted cash ethanol prices.
Today ethanol at the Argo hub near Chicago traded twice at $1.50 per gallon, up 1.5 cents, with December prices trading at $1.48 per gallon.
Chicago ethanol traded under Rule 11 for this week shipment was talked at a $1.48 to $1.49 per gallon bid/ask spread, up 2.0 cents. New York Harbor November barges were talked at a $1.565 to $2.59 per gallon bid/ask spread, up 2.25 cents. Pacific Northwest prices were talked at $1.59 to $1.62 per gallon bid/ask, up 7.0 cents, while Phoenix hub in Arizona was talked at $1.64 to $1.67 per gallon bid/ask, up 5.5 cents.
George Orwel can be reached at firstname.lastname@example.org.
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