Spot ethanol prices were boosted Wednesday by a bullish report from the Energy Information Administration showing fuel ethanol stocks were drawn down in the week-ended July 7 by 400,000 bbl, to a 21.2 million bbl fresh six-month low, although blending demand fell 18,000 bpd or 1.9% to 927,000 bpd.
Prompt ethanol at the Argo terminal traded at $1.55 per gallon, up 0.25 cents, while ethanol trading under Rule 11 terms for this week shipment traded 0.5 cents higher at $1.535 per gallon. A July fuel ethanol barge at the New York Harbor was talked at a $1.62 to $1.64 per gallon bid/ask spread, up 0.5 cents, while this week shipment of fuel ethanol to California was offered at $1.78 per gallon, up 2.0 cents on day.
George Orwel can be reached at email@example.com.
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