Spot ethanol prices rose again in Chicago, Houston, California and the New York Harbor, boosted by expectations for higher blending demand heading into the summer peak driving season, and on gains for New York Mercantile Exchange RBOB futures and the Chicago Board of Trade corn futures.
Most of discussions concentrated on swap contracts that traded 2.0 cents higher at $1.65 gallon for May.
In cash trade, prompt fuel ethanol supply at Argo in the Chicago market was discussed at $1.63 gallon, up 2.0 cents, with ethanol traded under Rule 11 for rail shipment this week trading at $1.61 gallon. April barged fuel ethanol at the New York Harbor was discussed at $1.72 gallon, up 2.0 cents. Prompt Houston ethanol supply was talked at $1.68 gallon, up 2.0 cents, while prompt ethanol to northern California was valued at $1.815 gallon, up 2.0 cents.
George Orwel can be reached at email@example.com
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