Spot ethanol prices retreated in the Chicago cash market on Wednesday after a report by the Energy Information Administration showed ethanol stocks in the Midwest rose to a seven-month high of 8.1 million bbl during the week ended Nov. 3, which also marked the sixth straight weekly stock build.
At the West Coast, spot prices edged higher despite data showing ethanol imports of 35,000 bpd were received in California.
Prompt supply ethanol at the Argo terminal in the Chicago cash market traded at $1.44 gallon and then seen at $1.435 gallon, down 2.0cts, with the rail transportation market trading under Rule 11 down 1.0cts at $1.415 gallon. This week shipment to northern California was valued at $1.585 gallon, up 2.5cts on the session.
George Orwel can be reached at firstname.lastname@example.org.
© Copyright 2017 DTN/The Progressive Farmer. All rights reserved.