Ethanol Blog
Myke Feinman Refine Fuels Reporter

Friday 05/31/13

Spot Ethanol Rallies on Corn Futures Gains, Tight Supply

Spot ethanol prices at the Argo supply hub east of Chicago spiked 4.5 cents to a $2.76 to $2.80 gallon bid/ask range in light trading Friday on rising Chicago Board of Trade corn futures and continued tight supply.

"Near term supplies are tight, and the weather is still very wet," one broker asserted Friday afternoon.

New York Harbor spot ethanol surged 5.0 cents to a $2.81 to $2.85 bid/ask spread, while product at West Coast markets was talked 2.0 cents higher in a $2.84 to $2.88 gallon range.

Despite higher values talked, physical trades are slow.

"There is no physical trading," said a West Coast trader.

Myke Feinman can be reached at myke.feinman@telventdtn.com.

Posted at 3:34PM CDT 05/31/13 by Myke Feinman
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