Ethanol Blog
George Orwel DTN Energy Reporter

Thursday 01/23/14

Spot Ethanol Market "Getting Crushed" by Rising Supply

U.S. spot ethanol prices in Chicago area extended lower in early afternoon trade Thursday after federal data showed domestic production rebounded above 900,000 bpd last week. This was after a sharp drop during the prior week. Total ethanol supplies were pushed up to a six-month high at 17.0 million bbl.

Midwest supplies increased 400,000 bbl to 6.6 million bbl, the highest since mid-April 2013. Today transfer ethanol at Argo hub near Chicago was talked at $1.83 per gallon, down 6.0 cents on the day. Chicago ethanol traded under Rule 11 for this week's fuel shipments to the East and Gulf coasts traded late at $2.015 per gallon, down 4.5 cents on the day, while northern California spot ethanol was offered at $2.12 per gallon, down 4.0 cents. "The market is getting crushed," said a trade source.

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

(ES/)

Posted at 2:28PM CST 01/23/14 by George Orwel
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