Spot ethanol prices eased in Chicago and New York after the U.S. Energy Information Administration released a supply report for the week-ended Aug. 12 that was bearish overall.
EIA said U.S. ethanol stocks decreased 35,000 bbl to 20.425 million bbl during the week-ended Aug. 12 although plant production rose 11,000 bpd or 1.1% to 1.029 million bpd -- matching the record weekly output rate seen through July 15, and up 64,000 bpd or 6.6% year-over-year.
Prompt delivered ethanol at the Argo supply hub in the Chicago market was talked at a $1.43 to $1.435 per gallon bid/ask for a 1.0-cent decline on the session. Chicago ethanol traded under Rule 11 for this week shipment traded at $1.41 per gallon, unchanged. New York Harbor September delivered ethanol barges were bid at $1.495 per gallon for a 0.75 cents loss.
George Orwel can be reached at email@example.com
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