Spot ethanol prices extended gains for the third straight session Tuesday on expectation supply would ease. There's talk a number of ethanol plants were either shutting down or planning to because of diminishing profit margins.
Ethanol delivered today at the Argo hub near Chicago traded unchanged at $1.32 per gallon while Chicago ethanol traded under Rule 11 for this week shipment traded within last week's range at $1.32 and $1.315 per gallon. Northern California spot prices were talked at a $1.46 to $1.50 per gallon bid/ask spread, up 2.0 cents. New York Harbor January ethanol barges were talked at a $1.42 to $1.45 per gallon bid/ask spread for a gain of 0.5 cents.
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