Spot ethanol prices moved higher in early trade Wednesday after the Energy Information Administration reported ethanol inventories fell 800,000 bbl to 22.2 million bbl during the week-ended April 1 while production declined 16,000 bpd to 976,000 bpd.
Prompt Argo ethanol traded at $1.48 per gallon, up 1.75 cents. Chicago ethanol traded under Rule 11 for this week shipment traded at $1.47 per gallon. This week Arizona delivery traded at $1.62 per gallon for a 5.0-cents gain while an ethanol barge for May shipment to New York Harbor was seen at a $1.56 to $1.58 per gallon bid/ask, up 2.5 cents.
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