Weather-related delays slowing the return of empty railcars after ethanol deliveries to the Midwest again pushed spot ethanol prices higher at the Argo hub in Chicago and along the New York Harbor.
"Railcars -- that's the big constraint right now," one trader asserted this morning. An industry source added "Everybody's dealing with the cold weather."
Spot ethanol gained 4.0 cents this morning at Chicago, talked at a $2.09 to $2.11 bid/ask spread. Along the New York Harbor, an ethanol barge for February delivery surged 12.0 cents to $2.70 to $2.74 per gallon. March NYH was talked at a sharp 15.0 cents premium to February delivery at $2.85 to $2.89.
Myke Feinman can be reached at firstname.lastname@example.org
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