Spot ethanol prices tumbled in early trade Monday as traders booked profits after last week's huge rally triggered by tight supply. A trader said "producers are selling" Monday, while another suggested Monday's selloff was seasonal "because we always see this at the end of every year." December barged ethanol, which was described as the new prompt delivery product at the New York Harbor, traded at $2.45 gallon, down from $2.65 traded on Friday. At Argo hub near Chicago, in-tank ethanol transfer was pegged at $2.60 gallon, down 37 cents from last Friday, while any-November product traded $2.50 and $2.45 gallon.
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