Spot ethanol prices moved higher Friday over concern of storm-related delivery delays that were joined by a decline in domestic production to spur short covering ahead of the weekend break. The winter storm moving up the East Coast is expected to dump as much as 2 feet of snow by Sunday in the Mid-Atlantic area, and it could cause power outages and delay the shipment of products from the Midwest to East Coast terminals, sources said.
Prompt ethanol delivered to the Argo hub near Chicago traded at $1.35 and $1.36 per gallon, up 2.0 cents. February delivered Argo ethanol prices traded early at $1.37 and $1.375 per gallon, up a penny. New York Harbor January ethanol barges were discussed at a $1.44 to $1.46 per gallon bid/ask spread, up 1.75 cents.
George Orwel can be reached at email@example.com
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