The Chicago cash ethanol market moved lower and the New York Harbor market edged higher on Tuesday. Prompt supply ethanol at the Kinder Morgan-run Argo terminal in the Chicago cash market traded at $1.445 per gallon, down 2.0 cents on the session.
In the rail market, ethanol under Rule 11 terms for shipment this week traded at $1.44 and $1.45 per gallon, down 1.5 cents amid pressure from easing Chicago Board of Trade corn futures.
On the East Coast, May fuel ethanol barges at the New York Harbor were valued at $1.54 per gallon, up 1.75 cents on the day, with a June fuel ethanol barge trading at $1.56 per gallon following a report by Genscape showing East Coast ethanol inventories were drawn down 150,000 bbl during the week-ended May 12.
George Orwel can be reached at email@example.com.
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