Spot ethanol prices traded lower in Chicago and New York Harbor on the back of fractionally lower Chicago Board of Trade corn futures and New York Mercantile Exchange RBOB futures. The Kinder Morgan-operated Argo terminal in the Chicago cash market was the most actively traded regional market Monday, with at least five deals concluded at prices 1.75cts lower than the levels seen Friday (6/23).
Prompt ethanol supply at the Argo hub traded twice at $1.48 gallon, twice at $1.475 gallon and once at $1.47 gallon for a 1.75cts loss. In the rail market, ethanol under Rule 11 terms for next week transfer was talked at $1.45 to $1.50 gallon bid/ask range, up 0.5cts.June fuel ethanol barges at the Harbor were valued at $1.55 gallon for a 1.0cts loss on the session.
George Orwel can be reached at email@example.com.
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