Spot ethanol prices in New York, the Texas Gulf Coast and along the West Coast were lower in a thinly-traded session early Tuesday as traders booked profits after Monday's steep rally by corn and ethanol futures, with trade sources saying the upside was overdone.
Ethanol futures declines were also driven by position-squaring by some traders ahead of weekly federal supply data due Wednesday and ahead of the May 3 expiration of May ethanol futures contract on the Chicago Board of Trade.
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