Spot ethanol prices took another leg down in trading Monday, with the cash value for product in Chicago and New York Harbor sharply lower on the combined weakness for Chicago Board of Trade corn futures and New York Mercantile Exchange RBOB futures.
Prompt ethanol at the Argo terminal in the Chicago market traded at $1.49 per gallon, 3.25 cents lower on the day and the lowest spot value in a month, with Rule 11 changing hands at $1.48 a gallon for a 1.0-cent loss on the day.
October barged ethanol at the New York Harbor was talked at $1.58 a gallon, up 2.0 cents on the session, while rail or barged supply in Houston was pegged at $1.57 a gallon, down 2.0 cents.
George Orwel can be reached at email@example.com
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