Spot ethanol prices fell Thursday under selling pressure from Chicago Board of Trade corn futures following Wednesday's report from the U.S. Agriculture Department that raised corn beginning stocks by 75 million bushels while boosting the estimate for corn production up by 190 million bushels.
In cash trade, prompt ethanol at the Argo terminal in the Chicago market traded at $1.515 per gallon, down 2.25 cents. In the rail market, fuel ethanol trading under Rule 11 terms for this week shipment traded twice 2.0 cents lower at $1.50 and $1.51 per gallon. July fuel ethanol barge at the New York Harbor's Sewaren terminal was talked at a $1.595 to $1.625 per gallon bid/ask spread, down 1.0 cents. California prompt ethanol was offered at $1.7425 per gallon, down 0.75 cents on the day.
George Orwel can be reached at email@example.com
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