Spot ethanol prices tumbled early Tuesday amid concerns over weakening demand should the U.S. government shutdown hurt the economy.
Profit taking ahead of the release tomorrow of weekly ethanol supply data also weighed on the market. "This is also the first day of the month, so there's greed, fear and anxiety," said one trader, who added some traders were sitting on the sidelines, reticent about committing to either side of the market at a time of uncertainty.
Prompt ethanol at Argo was talked early at $2.26 to $2.30 per gallon bid/ask, down 9 cents for the session, while prompt October New York Harbor barged ethanol was offered at $2.25 per gallon, down 7.0 cents on the day.
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