Spot ethanol prices traded higher in the Chicago cash market on Wednesday on a short squeeze and modest gains for New York Mercantile Exchange RBOB futures, said a source.
Argo terminal prices are at a three-day high after bouncing off Tuesday's better than four-month low.
Prompt supply fuel ethanol at Argo traded at $1.425 and $1.435 per gallon for a gain of 1.75 cents. In the rail market, ethanol under Rule 11 terms for this week shipment traded at $1.395 and $1.3975 per gallon, up 0.5 cent.
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