By George Orwel
DTN Energy Reporter
Spot ethanol prices fell this morning, pressured by data showing an increase in weekly ethanol inventories. U.S. Energy Information Administration detailed a 2.6% build in ethanol supply to 20.4 million bbl last week, though the bearishness of the data was ameliorated by a 5.1% drop in domestic output, an 8.0% jump in demand and a 48% drop in imports.
Ethanol imports fell to 27,000 bpd from 52,000 bpd for the prior week, with 67% of the foreign produced supply received along the West Coast. Trade sources said most of the West Coast imports were low carbon ethanol from Brazil. "Prices are going down," said a trader. "Brazil is spoiling everything and will continue doing that."
George Orwel can be reached at email@example.com