Spot ethanol prices posted steep losses on Tuesday, dragged down by broad-based selling that drove Chicago Board of Trade December corn futures and December RBOB futures on the New York Mercantile Exchange to multi-week lows. Selling in oil futures followed a report by the International Energy Agency revising down their global oil demand outlook for 2017 and 2017.
December ethanol swaps traded at $1.40 gallon, down 4.25cts. Prompt delivered ethanol at the Argo terminal in the Chicago cash market was talked at $1.375 gallon, easing 4.5cts. November barged ethanol at the New York Harbor was talked at $1.48 gallon, down 3.5cts. Barged or railed ethanol in Houston was pegged at $1.445 gallon for a loss of 4.0cts.
George Orwel can be reached at email@example.com.
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