Spot ethanol prices were discussed higher in Chicago and New York and a few other regional hubs in limited trade Thursday, with gains for Chicago Board of Trade corn futures reportedly boosting paper and physical ethanol prices.
The front end of the forward market is in slight backwardation, which signals short-term demand is improving. Argo ethanol was pegged at $1.55 per gallon, up 1.25 cents. Chicago ethanol trade under Rule 11 traded at $1.5425 and $1.545 per gallon, up 1.5 cents. May shipment to New York Harbor was pegged at $1.63 per gallon, up 1.0 cents, while June barges were valued at $1.62 per gallon.
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