Ethanol Blog

NYH Spot Ethanol Prices Tumbles on Building Supply

Spot ethanol prices fell sharply on Wednesday in the New York Harbor after the U.S. Energy Information Administration reported fuel ethanol supplies in PADD 1 East Coast rose by about 400,000 bbl last week to a five-year regional high of 8.6 million bbl. Meanwhile, total stocks fell 100,000 bbl to 23.1 million during the week-ended May 5.

The EIA report also said plant production rose 20,000 bpd to a 1.006 million bpd five-week high, with ethanol imports to the West Coast at 28,000 bpd.

In cash trade, May barged ethanol in the New York Harbor was talked at a $1.445 to $1.465 per gallon bid/ask spread, down 3.5 cents on the session. Prompt fuel ethanol supply at the Argo hub in the Chicago market traded early at $1.41, $1.405 and $1.40 per gallon, and later in the afternoon at $1.415 per gallon, 0.5 cent higher on the session.

George Orwel can be reached at george.orwel@dtn.com

(ES)

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