Spot ethanol prices eased in Chicago and West Coast markets during a moderately busy early trade session Thursday, pressured by a retreat by Chicago Board of Trade corn futures and bearish data from the Energy Information Administration. EIA showed ethanol stocks in PADD 2 Midwest region were up about 100,000 bbl, at 7.4 million bbl, and PADD 5 West Coast stocks rose by 100,000 bbl, to 3.0 million bbl last week.
Prompt physical ethanol supply at the Kinder Morgan-operated Argo terminal in the Chicago market was talked at a $1.545 to $1.55 per gallon bid/ask, down 1.5 cents, while ethanol traded under Rule 11 terms changed hands at $1.54 per gallon, down 1.0 cent on the session. On the West Coast, this week shipment of fuel ethanol in northern California was offered at $1.65 per gallon, down 5.5 cents.
George Orwel can be reached at firstname.lastname@example.org
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