Ethanol Blog

Storm Impact on Product Supply Sends Chicago Ethanol Higher

Spot ethanol prices jumped on Thursday especially in Chicago on the back of soaring gasoline and corn futures. September RBOB futures rallied on the New York Mercantile Exchange on tightening product supply due to Hurricane Harvey along the Gulf Coast and ahead of the contract's expiration this afternoon.

Most of the trade was in the Chicago market where prompt delivered ethanol supply traded at $1.53, $1.54, $1.55 and talked last at a $1.59 to $1.60 bid/ask, 7.5 cents higher on the session. The Chicago cash market traded at parity to New York Harbor and Gulf Coast spot prices on short-covering.

George Orwel can be reached at george.orwel@dtn.com

(ES)

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