Spot ethanol prices eased in lackluster trade Tuesday amid speculation ethanol inventories rose to new highs in the week-ended Feb. 19 and on early losses for corn and RBOB futures.
"We are swimming in [supplies]" said one source. Prompt transfer ethanol at the Argo supply hub near Chicago traded at $1.40 per gallon for a 1.75-cents loss while a Rule 11 term deal traded at $1.39 per gallon, unchanged.
New York Harbor March barged ethanol traded at $1.49 per gallon, down 1.0 cent, while Arizona spot ethanol was talked at $1.53 per gallon, down 1.5 cents.
George Orwel can be reached at firstname.lastname@example.org.
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