Ethanol Blog

Overbought Pressure Triggers Selloff in Spot Ethanol Market

Spot ethanol prices tumbled Wednesday amid corrective trade after a recent rally further spurred by data from the Energy Information Administration showing output at U.S. ethanol plants near a record high.

Prompt delivered ethanol at the Argo terminal in the Chicago market traded at $1.63 per gallon and then talked at $1.675 per gallon, down 15.5 cents. Prompt supply traded under Rule 11 changed hands at $1.62, $1.64 and $1.67 per gallon, down 7.5 cents. December barges at the New York Harbor were talked at a $1.77 to $1.80 per gallon bid/ask range for a 2.5-cents loss. January barges in the Harbor were talked 2.0 cents lower at a $1.69 to $1.71 per gallon bid/ask spread.

George Orwel can be reached at george.orwel@dtn.com.

(ES)

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