U.S. spot ethanol prices rose Monday afternoon amid concern over low supply and on an advance by Chicago Mercantile Exchange corn futures. Ethanol for today transfer at Argo hub near Chicago was bid at $2.02 and offered at $2.10 per gallon, up 3.5 cents for the day.
Prompt October New York Harbor barged ethanol traded early at $2.20 per gallon, up 2.5 cents on the day. "It's choppy because nobody's jumping into the market since there's no data on exports or harvested area (for corn)," said a trade source. "A lack of transparency has caused many traders to exit the market."
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