Spot ethanol prices climbed early Wednesday afternoon despite a bearish report by the Energy Information Administration showing increases in ethanol stocks and plant production, instead tracking an advance for RBOB futures on the New York Mercantile Exchange.
EIA reported a 500,000 bbl build in ethanol stocks, to 21.5 million bbl, while plant production rose 17,000 bpd to 1.056 million bpd.
Prompt supply ethanol at the Argo terminal in the Chicago cash market was pegged at $1.445 per gallon, up 1.75 cents, with the rail transportation market trading under Rule 11 up 2.0 cents at $1.41 per gallon. November barged ethanol at the New York Harbor was valued at $1.515 per gallon, up 1.0 cents on the session.
George Orwel can be reached at email@example.com
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