Spot ethanol prices toppled again Wednesday on fresh federal data showing higher weekly production and weaker demand, as well as on trader talk there's no longer a short squeeze in Chicago and New York.
U.S. Energy Information Administration said domestic ethanol output spiked 5.2% to 875,000 bpd during the week-ended Sept. 27, up 11.3% year-on-year. Demand fell 0.7% to 846,000 bpd last week, after rising for two weeks straight.
Tomorrow transfer ethanol at Argo terminal near Chicago was offered at $2.00 per gallon, down 12 cents for the session, while October New York Harbor barged ethanol traded at $2.20 per gallon, down 2.0 cents on the day.
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