Spot ethanol prices gave back the prior day's gains in a choppy early session Thursday, easing in line with a retreat for Chicago Board of Trade July corn futures. It comes a day after an Energy Information Administration report showed lower ethanol supplies while implied demand increased to a record high in the week-ended June 17. Prompt delivered ethanol at the Argo supply hub was pegged at $1.57 gallon for a 1.75-cent loss. Chicago ethanol under Rule 11 for this week shipment traded at $1.56 and $1.545 gallon, down 1.0 cent. June New York Harbor ethanol barges were discussed at a $1.63 to $1.64 gallon bid/ask, down 0.5 cent on the session.
George Orwel can be reached at firstname.lastname@example.org
© Copyright 2016 DTN/The Progressive Farmer. All rights reserved.