U.S. spot ethanol prices were mixed Wednesday with Chicago area cash values lower after the Energy Information Administration reported a buildup in fuel ethanol inventories to a 23.3 million bbl three-week high, up 7.9% on the year.
The supply build was realized despite a 7,000 bpd decline in plant production, to 987,000 bpd, while blending demand rose 20,000 bpd, to a 932,000 bpd four-month high, up 1.5% on the year.
Prompt fuel ethanol supply at the Argo hub in the Chicago market was pegged at $1.5875 per gallon, 2.0 cents lower. In rail transport market, fuel ethanol traded under Rule 11 terms for shipment this week was 0.25 cent lower at $1.5775 per gallon.
New York Harbor May barged ethanol was pegged at $1.67 per gallon, up 1.0 cent, while Houston values were penciled at $1.67 per gallon for a 0.5-cent gain. The California market was assessed at $1.76 per gallon, up 1.0 cent.
George Orwel can be reached at firstname.lastname@example.org.
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