U.S. spot ethanol prices eased in early afternoon trade amid talk the ethanol market was overbought after recent rallies and that a lack of rail cars to ship ethanol resulted in accumulation of supply in the Chicago area.
New York Harbor values eased during early afternoon trade, as buyers stepped to the sideline amid talk prices have become too expensive too quickly. A shortage of rail cars limited deliveries to the Harbor, with prompt supply there down sharply.
Today transfer ethanol at the Argo hub near Chicago was talked at $1.97 per gallon, down 2.0 cents on the day, while New York Harbor ethanol barge for prompt delivery was pegged $2.45 per gallon, down 7.0 cents.
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