Spot ethanol prices move mostly lower Thursday after coming under selling pressure from weaker Chicago Board of Trade corn futures and higher plant production last week reported Wednesday by the Energy Information Administration. Also, storage at the Argo supply hub in the Chicago market which recently fell to half of capacity is now being replenished, said sources.
Prompt ethanol supply at the Argo supply hub in the Chicago market was talked at a $1.53 to $1.55 a gallon bid/ask for a 1.5-cent loss. September barges at the New York Harbor were discussed at $1.55 to $1.57 per gallon, down 2.5 cents on the day. The West Coast market was still seeing stronger values because of lingering short-term supply concerns. Arizona was talked slightly higher in a $1.63 to $1.65 per gallon bid/ask spread.
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