Ethanol prices in Chicago and New York Harbor cash markets posted gains early Thursday, despite a mixed set of data from the Energy Information Administration showing U.S. ethanol output increased to a fresh record high while blending demand nosedived during the final week of 2016.
EIA reported stockpiles unchanged at a one-month low.
Prompt delivered ethanol at the Argo terminal in the Chicago market was pegged at $1.535 per gallon for a 3.5-cent loss while any January delivered ethanol traded at $1.535 per gallon for a 5.0-cent gain. In the rail market, ethanol traded under Rule 11 for shipping to coastal markets was valued at $1.53 per gallon for a gain of 3.0 cents. January ethanol barges in the New York Harbor were talked at a $1.62 to $1.65 per gallon bid/ask for a gain of 1.5 cents, having plunged 13.0 cents a day prior.
George Orwel can be reached at firstname.lastname@example.org
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