Spot ethanol prices traded higher in Chicago's two cash markets, boosted by talk of a short squeeze and higher October RBOB futures on the New York Mercantile Exchange, said a trade source.
Prompt ethanol supply at the Argo terminal in the Chicago market traded one time at $1.60 for next week delivery and five times at $1.59 per gallon. It has since been discussed at a $1.59 to $1.62 gallon bid/ask, up 0.75 cents.
In the rail shipment market, ethanol traded under Rule 11 terms was bid at $1.585 and offered at $1.62 per gallon, up 3.75 cents on the session.
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