U.S. spot ethanol prices climbed in Chicago and New York Harbor markets on short-covering spurred by talk of planned shutdowns of two production plants.
"There's a rumor a producer is shutting down two plants, and so they are buying Rule 11," said a source.
Prompt supply ethanol at the Argo hub in the Chicago cash market traded at $1.455 gallon, up 2.0 cents on the session. In the rail market, ethanol under Rule 11 terms for shipment next week changed hands at $1.45 gallon, up 2.0 cents. May fuel ethanol barges at the New York Harbor were assessed at $1.50 gallon, up 1.0 cent, with June barges at the Harbor valued at $1.55 gallon.
George Orwel can be reached at firstname.lastname@example.org
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