Spot ethanol prices stretched gains across the nation's key trade hubs Thursday afternoon amid continued concern about supply after federal data released a day prior showed domestic ethanol stocks tumbled to a two-month low, with East Coast supply down to the lowest point on record.
A source said ethanol traders were covering short positions. This week delivered ethanol at the Argo hub near Chicago was valued at $2.50 per gallon, up 6.0 cents on the day, with some offers coming in at $2.55. On the East Coast, prompt ethanol barge at the New York Harbor was talked wide at a $3.45 to $3.55 per gallon bid/ask spread, up 6.0 cents on the session.
George Orwel can be reached at email@example.com
© Copyright 2014 DTN/The Progressive Farmer. All rights reserved.