Spot ethanol prices were unchanged in New York and edged higher in Chicago and other regional trade hubs amid short covering ahead of the weekend break.
A source said ethanol prices inched up as ethanol plants cut runs due to low margins, with Green Plains one of the producers seen cutting runs after reporting a fourth quarter 2015 earnings loss this week.
Still, it will take time to rebalance the physical market. Prompt delivered ethanol at Argo hub near Chicago traded at $1.3575 and $1.356 per gallon, up 0.5 cents, while February delivered barges at the New York Harbor was talked at $1.43 per gallon, unchanged.
George Orwel can be reached at email@example.com.
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