Spot ethanol prices rose in New York and Chicago after federal data showed total ethanol supplies were drawn down to a 10-week low, while demand rose 1.0% during the week-ended Sept. 13.
The data, released late morning by the Energy Information Administration, showed U.S. ethanol stocks fell 100,000 bbl to 16.2 million bbl as production from domestic processing plants dropped 1.2%. Spot ethanol for transfer today at Argo was talked at a $2.35 to $2.40 per gallon bid/ask, up 2.5 cents; this week transfer ethanol was talked at a $2.30 to $2.38 per gallon bid/ask, up 5.0 cents; next week transfer ethanol was pegged at a $2.08 to $2.10 per gallon bid/ask.
Any-September ethanol traded at $2.07 per gallon, up 7.0 cents. Any-September New York Harbor ethanol barge traded $2.18 per gallon, up 2.5 cents; any-October Harbor barged ethanol traded at $2.05, $2.06, $2.08, $2.10 per gallon, up 7.0 cents on the day.
George Orwel can be reached at firstname.lastname@example.org
© Copyright 2013 DTN/The Progressive Farmer. All rights reserved.