Ethanol Blog
George Orwel DTN Energy Reporter

Thursday 09/12/13

Spot Argo Ethanol Down on Excess Supply, Bearish Corn Report

Spot ethanol prices fell in Chicago on the back of a bearish federal corn report and excess product supply at the Kinder Morgan-run Argo terminal.

U.S. Department of Agriculture's September World Agricultural Supply and Demand Estimate report projected ending corn stocks for 2013/14 year 18 million bushels higher due to increased production, prompting a selloff for corn and ethanol futures. In physical trade, today transfer ethanol at Argo was talked at a $2.30 to $2.34 per gallon bid/ask, down 8 cents; Rule 11 traded at $2.37 gallon, down 13 cents.

George Orwel can be reached at george.orwel@telventdtn.com

(ES)

Posted at 1:11PM CDT 09/12/13 by George Orwel
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