Spot ethanol prices eased early Wednesday for the third straight day after federal data showed fuel ethanol supply rose in the Midwest by 100,000 bbl to a nine-month high of 8.3 million bbl during the week-ended Dec. 8.
"The report was bearish and so the time-spreads are wider," said a trader, talking about the 3cts discount today for prompt supply ethanol over any December any and the December/January spread.
In the physical ethanol market, prompt delivered ethanol at Argo was talked at $1.2825 gallon for a loss of 1.25cts on the session, after an earlier trade at $1.289 gallon. New York Harbor December barged ethanol was pegged at $1.38 gallon for a 0.5cts loss. In Houston, this week delivered ethanol supplies were pegged at $1.365 gallon, down 0.5cts.
George Orwel can be reached at firstname.lastname@example.org.
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