Prompt delivered ethanol at the Kinder Morgan-operated Argo terminal in Chicago traded at $1.46 per gallon early Tuesday afternoon, up 0.75 cent while any-May traded at $1.47 per gallon. Argo spot values are up 3.0 cents so far this week, bolstered by corn futures on the Chicago Board of Trade, which rallied to a $4.016 per bushel nearly two-year high on the spot continuous chart, as the July contract gapped higher following Monday's expiration of the May contract.
Trade sources pegged New York Harbor May barged ethanol at $1.5850 per gallon, a penny higher while June barges traded at $1.58 per gallon. At the Gulf Coast, spot price rose 1.5 cents to $1.5650 per gallon. Ethanol for this week shipment under Rule 11 rail terms firmed 0.25 cent to $1.4750 per gallon.
Dawn Gallagher can be reached at email@example.com
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