Spot ethanol prices were shallowly mixed after a weekly supply report showed falling inventories and rising domestic production.
Spot ethanol prices were shallowly mixed Wednesday, with prompt delivered product at Argo edging up 0.25 cents while in New York Harbor values dipped 0.5 cents after the Energy Information Administration showed ethanol stocks fell last week from a record high while production and demand increased.
The data showed ethanol stocks fell nearly 500,000 bbl to 22.9 million bbl for the week-ended March 11, and production by U.S. plants rose 21,000 bpd to 999,000 bpd. Blender inputs, a proxy for demand, rose 11,000 bpd to 888,000 bpd.
Today transfer ethanol at Argo was talked at a $1.38 to $1.39 per gallon bid/ask spread, up 0.25 cents on the session. On the East Coast, ethanol barges for March shipment to the New York Harbor were talked at a $1.45 to $1.46 per gallon bid/ask spread, down 0.5 cents on the day.
George Orwel can be reached at firstname.lastname@example.org.
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