Ethanol Blog

Argo Spot Ethanol Prices Up Despite Bearish USDA Data

Spot ethanol prices were mixed Thursday with cash values in Chicago higher despite losses for Chicago Board of Trade corn futures after the U.S. Department of Agriculture released a report showing 94.148 million acres of planted corn that surpassed March estimates for 92.896 million acres while corn stocks as of June 1 stood at 4.72 billion bushels, more than March estimates for 4.528 billion bushels.

Prompt delivered ethanol at the Argo supply hub in the Chicago market traded 1.37cts higher at $1.615 gallon. Chicago ethanol under Rule 11 for this week shipment was valued unchanged at $1.57 gallon while July New York Harbor ethanol barges were talked at $1.67 gallon for gain of 0.75cts and California spot prices were seen at $1.765 gallon to a 2.5cts loss.

George Orwel can be reached at george.orwel@dtn.com.

(CZ)

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