Spot ethanol prices traded shallowly mixed in a thin session Thursday, a day after rallying sharply, while the market for renewable credits was strong. Tradable Renewable Identification Numbers for fuel ethanol rallied on talk of short-covering.
Fuel ethanol for today delivery at the Argo terminal in the Chicago market traded at $1.65 and $1.66 per gallon, and was then pegged at $1.6675 per gallon for a 0.50-cent loss on the day. Chicago ethanol traded under Rule 11 was seen at $1.67 per gallon, up 1.0 cent, with the rail market at a premium because coastal markets that receive shipments from Chicago remain tight. In the renewable credits market, 2016 D6 ethanol RINs traded 2.0 cents up at $1.05 and $1.06.
George Orwel can be reached at firstname.lastname@example.org.
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