Spot ethanol prices traded lower in Chicago and Oregon despite federal data showing a drawdown in U.S. ethanol inventory for the week-ended Feb. 19. Sources, however, noted the sizable ramp-up in domestic production, with the Energy Information Administration showing a 19,000 bpd increase in plant output to a six-week high of 994,000 bpd.
Prompt delivered ethanol at the Argo terminal near Chicago traded at $1.39 per gallon, down 1.5 cents. This week delivered ethanol in the Pacific Northwest traded at $1.52 per gallon, down 1.5 cents.
George Orwel can be reached at email@example.com.
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