Spot ethanol prices continued lower Tuesday on talk of excess supply at key hubs such as Argo and at the New York Harbor while demand is weak, which prompted selling a day ahead of the release of weekly ethanol supply data from the Energy Information Administration.
A source said prompt delivered ethanol at Argo traded at $1.30 per gallon, down 3.0 cents, while Chicago ethanol traded on a Rule 11 basis traded at $1.35 and $1.335 per gallon, down 1.5 cents. March shipment to the New York Harbor was talked at $1.395 to $1.42 per gallon bid/ask for a 0.25-cents loss.
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