Ethanol Blog

Corn Futures Rally boosts Chicago Spot Ethanol to Eight-week High

Prompt ethanol at the Kinder-Morgan operated Argo terminal in Chicago was up 1.4 cents at a $1.4625 per gallon eight-week high Tuesday afternoon, pushed up in thin end of month trade on a rallying corn futures contract. Corn futures on the Chicago Board of Trade shook off mid-July weakness, stair-casing higher to a fresh seven-week high at $3.742 per bushel.

Ethanol for this week's rail delivery under Rule 11 terms also increased, up 1.0 cents to $1.4575 per gallon, with spot ethanol in the New York Harbor up 2.0 cents to $1.5750 per gallon. In Houston, spot ethanol gained 1.4 cents to $1.5750 per gallon.

Brian Whary can be reached at brian.whary@dtn.com

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