Spot ethanol prices traded lower Wednesday afternoon after the Energy Information Administration earlier today reported increases in ethanol inventory and domestic plant production during the week-ended Aug. 11.
The report showed ethanol stocks rose for the second straight week, up 500,000 bbl, or 2.3%, to a 21.8-million bbl four-week high, and 6.9% more than a year ago. Plant output climbed 47,000 bpd, or 4.6%, to 1.059 million bpd, up 30,000 bpd or 2.9% year-on-year.
In the physical market, this week ethanol supply at the Argo terminal in Chicago traded five times this afternoon at $1.5375 per gallon, down 2.25 cents on the day to a near two-week low.
August barged ethanol at the New York Harbor was talked at a $1.60 to $.65 per gallon bid/ask spread, down 1.0 cents on the day. Prompt delivered ethanol in California was offered at $1.69 per gallon, down 4.5 cents on the day.
George Orwel can be reached at email@example.com.
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