Prompt physical ethanol at the Argo supply hub in Chicago and Chicago ethanol swaps weakened early Thursday afternoon, declining as Chicago Board of Trade July corn futures reverses lower, dropping back from Wednesday's $4.392 near 11-month high on the spot continuation chart.
In physical, prompt Argo in the Chicago market was talked in a $1.665 by $1.675 per gallon bid-ask spread, down 1.0 cent, with June anys discussed in a $1.655 by $1.675 spread. This week and next week ethanol delivered under Rule 11 terms were talked at $1.655 per gallon. Chicago July ethanol swaps traded $1.6575, $1.66, and $1.665 per gallon, edging high through the day, although still below Wednesday's $1.695 trade, with a Chicago August swap traded at $1.65 per gallon.
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