Spot ethanol prices tumbled in early trade on talk supply continues to run ahead of demand, with profit-taking on Chicago Board of Trade corn futures contracts also adding to the downside.
Sources said prompt delivered ethanol at the Argo supply hub in the Chicago market was talked at a $1.52 to $1.54 per gallon bid/ask, down 2.75 cents. An ethanol barge for May shipment to New York Harbor traded at $1.62 per gallon, down 2.0 cents. Spot ethanol in northern California was offered at $1.68 per gallon, down 6.0 cents for the session.
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