Underpinned by strong corn futures that are holding just below a two-year high and expected record high gasoline demand this year, ethanol prices for both prompt and July delivery continued to advance Tuesday afternoon. Prompt delivered ethanol at the Argo supply hub in Chicago gained 1.5cts with a $1.71 gallon trade, pushing spot ethanol prices in Chicago to the highest price point since December 2014.
Chicago Board of Trade July ethanol futures also rallied to a 1-1/2 year high on the spot continuation chart of $1.739 gallon. Chicago July swaps traded 2.5cts higher at $1.71 gallon, with third quarter swaps done at $1.69 and fourth quarter at $1.59 gallon.
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