Spot ethanol prices were mostly unchanged in early trade Thursday with the exception of New York that saw a penny decline after EIA issued a mixed report today showing a build in ethanol inventories while production fell in the week-ended Jan. 15.
The report showed domestic ethanol inventory climbed 600,000 bbl, to 21.9 million bbl last week, the most in more than nine months, while U.S. plants reduced production by 20,000 bpd, to 983,000 bpd, a five-week low.
Prompt ethanol at the Argo hub near Chicago was pegged at $1.35 per gallon, unchanged. February Argo ethanol prices traded at $1.36 per gallon. New York Harbor January ethanol barges were talked at $1.43 per gallon, down a penny, while February barges were talked at a $1.43 to $1.455 per gallon bid/ask spread.
George Orwel can be reached at email@example.com
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