Spot ethanol prices in Chicago advanced on Wednesday following stepped-up buying this afternoon after data from the Energy Information Administration showed domestic fuel ethanol supply declined 1.0 million bbl, or 4.2%, to 22.8 million bbl during the week-ended March 23, while down 500,000 bbl, or 2.1%, versus a year ago.
Midwest supply fell 600,000 bbl, or 6.7%, to 8.4 million bbl, down 200,000 bbl or 2.3% year-on-year. Physically delivered prompt supply at Argo hub in the Chicago market traded 10 times during the aftermarket between $1.42 and $1.435 per gallon, up 0.2 cents. Ethanol railed under Rule 11 terms for this week shipment traded at $1.44 and $1.445 per gallon for a 0.5-cent gain.
George Orwel can be reached at firstname.lastname@example.org
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