U.S. spot ethanol prices trade lower in Chicago and elsewhere on Thursday amid limited buying interest and talk of a supply overhang.
Total inventories at 22.4 million bbl, as of Dec. 8, are 17.3% higher on the year. Prompt delivered ethanol at the Argo terminal in the Chicago market traded at $1.28 per gallon this morning, down 1.5 cents on the session.
December barged ethanol to the New York Harbor was pegged at $1.375 gallon, down 0.5 cent, while Northern California spot prices were pegged at $1.475 per gallon, down 1.5 cents on the session.
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