Spot ethanol prices continued higher Friday on concern over tight supply, especially in the Chicago and New York Harbor markets, after midweek data from the Energy Information Administration showed ethanol inventories fell last week to a nine-month low at 20 million bbl.
Prompt ethanol supply at the Argo hub in the Chicago market was valued at $1.605 gallon, up 1.0 cent on the day and the highest cash price in nine weeks. Any September deliveries were talked at a $1.59 to $1.60 per gallon bid/ask for a gain of 2.0 cents on the session. September barges at the New York Harbor were talked at a $1.63 to $1.64 per gallon bid/ask, climbing 0.5 cent on the session, with October delivered barges talked unchanged at $1.6075 per gallon.
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