Ethanol markets were contained to an extremely narrow trading range Wednesday with nearby and deferred contracts limited to price moves of a fraction of a cent per gallon.
This stability comes after very aggressive price gains in nearby contract months. March futures rocketed 17 cents per gallon higher over the previous two trading session based on widespread concerns of transportation problems moving ethanol to end users throughout the country.
Although there still remain concerns about getting product to needed destinations, improvements are being made, and less emotional buying is being done.
Prices remained mixed across the ethanol complex at closing bell Wednesday as each contract moved a fraction of a cent per gallon. It is uncertain just how much follow-through support will develop through the end of the week, but commercial buying is expected to continue to keep strong premiums in front-month contracts.
Rick Kment can be reached at email@example.com
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