Spot ethanol prices rallied on Monday on talk of strong export demand and on higher Chicago Board of Trade corn futures, with corn futures up sharply for a second session to a nearly one-month high. A trade source said eight tankers were recently loaded with fuel ethanol for shipment to Brazil.
In-tank transfer ethanol supply at the Argo hub in the Chicago market traded four times at a $1.6325 per gallon, up 3.5 cents on the session, while April barged ethanol at the New York Harbor was assessed at $1.72 per gallon for a 4.0-cent session gain. Along the West Coast, prompt delivered ethanol to northern California was discussed at a $1.82 to $1.86 per gallon bid/ask spread for a gain of 4.0 cents on the session.
George Orwel can be reached at email@example.com.
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