Spot ethanol prices were discussed lower in early trade Monday, starting the new trade week on the back foot amid talk of limited short-term demand and weaker corn futures on the Chicago Board of Trade.
Energy Information Administration last week reported U.S. ethanol plants produced at a record high rate of 1.108 million bpd in the week-ended Dec. 1, up 42,000 bpd from week prior and 85,000 bpd above year prior.
Prompt delivered ethanol at the Argo terminal in the Chicago cash market was discussed at $1.315 gallon for a loss 2.0 cents on the session. In the rail shipping market, fuel ethanol traded under Rule 11 terms was talked at a $1.29 and $1.31 per gallon bid/ask, down 0.5 cents. December barged ethanol in the New York Harbor was talked at a $1.39 to $1.40 per gallon bid/ask, down 1.5 cents on the session.
George Orwel can be reached at email@example.com
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