Spot ethanol prices were mixed in lackluster early trade Monday despite lower Chicago Board of Trade corn and New York Mercantile Exchange RBOB futures. Cash ethanol prices in some trade hubs were boosted by export demand, said a source.
"Corn futures fell, but ethanol didn't fall because ethanol is supported by exports and plants are shutting units for seasonal maintenance," said a source. "This is the last week of the summer ... gasoline demand is down."
Prompt delivered ethanol at the Argo supply hub in the Chicago market was valued at $1.44 to $1.45 per gallon bid/ask, for a 0.25-cent loss. New York Harbor September delivered ethanol barges at $.48 to $1.50 per gallon bid/ask, down 3.5 cents. This week shipment of ethanol in northern California was talked at $1.58 to $1.60 per gallon bid/ask, up 1.5 cents. This week delivered Arizona ethanol was talked at a $1.52 to $1.53 per gallon bid/ask, down 0.5 cent.
George Orwel can be reached at firstname.lastname@example.org.
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