Ethanol Blog
George Orwel DTN Energy Reporter

Thursday 11/21/13

Short Squeeze Again Rallies Spot Ethanol Prices

Spot ethanol prices are again rallying Thursday, advancing as Wednesday's bullish federal inventory data continues to boost the spot market, with demand running ahead of short-term supply. Trade sources said a squeeze due to tight supply was seen in key markets such as Chicago, New York and California. As a result, ethanol for today transfer at Argo hub was bid 1.0 cent higher on the day at a $2.70 per gallon after rallying 40.5 cents Wednesday. Prompt New York Harbor barged ethanol traded at $2.70 and is now bid at $2.75 per gallon, up 8.5 cents today after Wednesday's 19.5 cents surge. Chicago rule 11 ethanol trade was done at $2.65 for this week transfer, up 30 cents.

George Orwel can be reached at george.orwel@telventdtn.com

(ES)

Posted at 2:30PM CST 11/21/13 by George Orwel
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