Physical ethanol prices were discussed slightly higher on Thursday, boosted by rising demand and modest gains for corn futures on the Chicago Board of Trade.
"If you look at demand, it's above 4% year-over-year and that's very supportive [for ethanol prices]. That should be the headline," said a source.
Prompt delivered ethanol at the Argo hub near Chicago was pegged early at $1.37 per gallon, while any March Argo prices were seen at $1.38 per gallon for a gain of 1.5 cents. This week delivered ethanol in Arizona traded at $1.51 per gallon, up 2.5 cents, while March New York Harbor barges were pegged at $1.46 per gallon, up 1.5 cents on the day.
George Orwel can be reached at firstname.lastname@example.org
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