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.
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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 email@example.com
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