Spot ethanol prices advance Monday on an improving demand outlook spurred by exports and on gains for Chicago Board of Trade corn futures and New York Mercantile Exchange RBOB futures.
Prompt delivered ethanol at the Argo supply hub in the Chicago market was pegged at $1.43 per gallon for a 2.5-cents gain. Chicago ethanol traded under Rule 11 for this week shipment was discussed at a $1.39 to $1.42 per gallon bid/ask spread, up 1.75 cents.
New York Harbor ethanol barge traded 7.0 cents over Chicago swaps at $1.50 per gallon for a 4.0 cents gain. Prompt Arizona ethanol was offered at $1.58 per gallon, up 6.5 cents.
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