Spot ethanol prices were lower in New York, Houston and Chicago on downward pressure by another steep retreat for New York Mercantile Exchange RBOB futures, with modest gains by corn futures curbing the downside for ethanol values.
The weaker market also comes ahead of Wednesday's supply report for the week-ended Jan. 29 from the Energy Information Administration. The report is expected to show the impact of delayed shipments in the Gulf Coast market due to heavy fog at the Houston Ship Channel.
Today transferred ethanol at the Argo hub near Chicago traded early at $1.395 per gallon, down 2.0 cents. Any-February prices traded at $1.405 and $1.41 per gallon, down about 1.5 cents. New York Harbor February ethanol barges traded 0.5 cents down at $1.49 per gallon.
George Orwel can be reached at firstname.lastname@example.org.
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