Spot ethanol prices tumbled Thursday along with Chicago Board of Trade corn futures after the U.S. Department of Agriculture estimated corn stocks in all positions on March 1 totaled 7.81 billion bushels, up 1 percentage point year-over-year.
April swaps traded from $1.455 a gallon down to $1.415 a gallon for a session loss of 4.5 cents, while prompt delivered ethanol at the Argo terminal near Chicago traded early at $1.44 a gallon before falling to $1.41 a gallon, down 2.75 cents on the day.
George Orwel can be reached at firstname.lastname@example.org.
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