Ethanol Blog

Spot Ethanol Trades Mixed Despite 2018 RVO Targets

Spot ethanol prices were shallowly mixed in afternoon trade with New York Harbor cash values edging up a penny at $1.465 gallon, easing half a penny to $1.35 at the Argo terminal in the Chicago market while flat in California at $1.52 gallon.

The ethanol market had a muted reaction to Thursday's release by the U.S. Environmental Protection Agency of its final Renewable Fuel Standard renewable volume obligation for 2018.

EPA set total renewable fuel volume of 19.29 billion gallons for 2018, which is a bit higher than the 2017 mandate and the agency's proposal in July. That includes a 15-billion-gallon requirement for conventional renewable fuels, which can be satisfied with corn-based ethanol.

The EPA also maintained a 2.1-billion-gallon volume requirement for biomass-based diesel fuel for 2019, the same mandate for 2018 and in line with its July proposal.

George Orwel can be reached at george.orwel@dtn.com

(CZ)

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