U.S. physical ethanol prices eased in Chicago and New York in a thinly traded Friday afternoon session despite gains in corn and RBOB futures markets.
The downside reflects reluctance by traders to extend Thursday's gains given the Energy Information Administration's data that showed an ethanol stock gain of 700,000 bbl to a record high of 23.3 million bbl for the week-ended March 4.
Today Argo ethanol transfer traded at $1.365 per gallon, down 1.0 cent, while April ethanol swaps traded at $1.425 per gallon. March delivered barges in the New York Harbor were talked at a $1.445 to $1.4625 per gallon bid/ask, down 2.13 cents on the day. April Harbor barges were pegged at $1.50 per gallon and May barges traded at $1.44 per gallon.
George Orwel can be reached at email@example.com.
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