The ethanol market has been on a tear this week, with New York Harbor and Chicago area spot prices rallying because demand is running ahead of supply, with the Harbor situation particularly critical.
Data released midweek showed East Coast stocks at the lowest level on record while nationwide supply was down to a 3 1/2 month low. "There is really no ethanol (at the Harbor)," said a source.
A prompt ethanol barge at the Harbor was discussed 25.5 cents higher at a $4.30 per gallon, the highest price on record for the Harbor, while at the Argo terminal near Chicago prompt transfer ethanol traded at $3.10 and at a $3.15 per gallon six-month high, up 11.5 cents on the day.
George Orwel can be reached at firstname.lastname@example.org.
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