Spot ethanol prices traded a penny or more higher in Chicago and New York Harbor despite a mixed report by the Energy Information Administration showing ethanol stocks fell last week by 100,000 bbl to 22.8 million bbl. However, regional supplies rose in the East Coast and the Midwest. The report also showed plant output rose by a more-than-expected 52,000 bpd to a 1.068 million bpd seven-week high. Refiner and blender inputs edged up 3,000 bpd to 885,000 bpd, the highest blending rate in seven weeks.
Prompt ethanol supply at the Argo hub in the Chicago market traded seven times during the aftermarket window at $1.4825 and $1.485 gallon for a gain of 1.25cts. March barged ethanol in the New York Harbor traded at $1.5725 gallon and was later pegged at $1.575 gallon for a 1.0cts gain.
George Orwel can be reached at email@example.com.
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