Spot ethanol prices traded higher in the New York Harbor and at the Argo terminal in the Chicago cash market as buying interest picked up and RBOB futures in the New York Mercantile Exchange traded to a better than four-month high.
Prompt delivered ethanol at Argo was valued at parity with January swaps, changing hands this afternoon at $1.265, $1.27 and $1.28 per gallon for a gain of 3.5 cents. Ethanol moved by rail under rule 11 terms traded at $1.31 per gallon. Prompt delivered ethanol by barges in the New York Harbor had bids ranging from $1.405 to at $1.425 per gallon and offers ranging from $1.44 to $1.46.
Valued last at $1.425 per gallon for a gain of 2.0 cents, prompt Harbor's premium to swaps expended to 14.5 cents from 10.0 cents last week.
George Orwel can be reached at email@example.com
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