Ethanol Blog

Ethanol Spot Prices Steady Early Thursday

Spot ethanol prices were flat to slightly higher early Thursday in thin trade following Wednesday's decline in reaction to bearish weekly supply data.

Prompt delivered ethanol at the Argo terminal in the Chicago market edged up 0.5 cent to $1.4650 per gallon, while prompt ethanol barges at the New York Harbor added 0.50 cent to $1.5950 per gallon.

In Arizona, prompt ethanol delivered to Phoenix remained on offer at $1.56 per gallon.

On Wednesday, spot ethanol prices were under pressure after the Energy Information reported a 1.3 million bbl build in domestic ethanol supply to a 20.0 million bbl three-month high during the first week of 2017.

The supply build coincided with a modest increase in output from U.S. ethanol production plants to a fresh record high of 1.049 million bpd, while blending demand declined 39,000 bpd to an 806,000 bpd one-year low.

Dawn Gallagher can be reached at dawn.gallagher@dtn.com

(ES/)

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