Physical ethanol prices advanced amid short covering and in line with a rally for NYMEX RBOB futures. The Energy Information Administration said Wednesday that ethanol stocks declined by 500,000 bbl to 22.6 million bbl during the week-ended Feb. 26.
Prompt transfer ethanol at Argo traded at $1.34 per gallon, up 0.75 cents on the session, while any March ethanol prices at the hub were seen at $1.36 per gallon, up 2.0 cents. Chicago ethanol traded on the basis of Rule 11 for this week shipment changed hands at $1.3325 per gallon while next week shipment traded at $1.335 per gallon, up 0.5 cents. April ethanol swaps traded at $1.385 and $1.39 per gallon, up 2.0 cents, while ethanol barges for March shipment to the New York Harbor was pegged at $1.44 per gallon, up 1.25 cents on the day.
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