Trade sources early Wednesday afternoon reported prompt ethanol at the Kinder Morgan-operated Argo terminal at $1.42 gallon, down 0.5cts on the session, with any-month deliveries done last at $1.4250 gallon, as domestic plant production increased 12,000 bpd to a 1.053 million bpd four-week high in early June. U.S. ethanol plant output averaged 1.041 million bpd during the four weeks ended June 8, up 33,000 bpd or 3.3% against the comparable year-ago period.
While prompt ethanol values declined at the terminal, spot supply movement in Chicago for this week shipment by rail under Rule 11 terms increased 0.75cts to a $1.46 gallon one-week high. Trade sources said the market is "still tight."
Dawn Gallagher can be reached at email@example.com.
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