Spot ethanol prices fell while renewable credits rallied after the Energy Information Administration said U.S. ethanol stocks rose to a better-than five-month high last week, with most of the additional supply seen along the West Coast.
EIA said ethanol stocks rose 370,000 bbl to nearly 20.0 million bbl for the week-ended Nov. 27, with 36,000 bpd in ethanol imports reported on the West Coast, which also saw a 395,000 bbl jump in its stocks to 2.7 million bbl.
This week delivered ethanol in northern California was pegged at $1.615 per gallon, down a penny. New York Harbor December barges were pegged at $1.58 per gallon, down 1.0 cent, while today ethanol at the Argo hub near Chicago was pegged at $1.50 per gallon, down 2.0 cents.
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