Spot ethanol prices continued higher in early trade after the Energy Information Administration reported U.S. ethanol inventories fell 100,000 bbl to 15.1 million bbl last week, the lowest level since late October when stocks were at a 15.0 million bbl record low.
Supplies are 3.8 million bbl or 20.3% lower than a year earlier. In response, spot ethanol for today transfer at the Argo hub was talked 5.5 cents higher on the session at $2.35 per gallon while prompt New York Harbor barged ethanol was pegged at $2.49/gallon, up 1.5 cents.
Chicago rule 11 ethanol delivery was done at $2.35/gallon for this week transfer and at $2.315 for next week transfer, up about 6 cents for the day.
George Orwel can be reached at email@example.com
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