Spot ethanol prices are at or near record highs amid short covering Monday on tight supplies and expectations data due out March 26 would show a further decline in both domestic output and inventories nationwide.
Total ethanol stocks are at a 3 1/2 month low, data for the week-ended Mar. 14 showed. A return of snow in the Midwest was also a factor driving the market today because it could limit shipments.
Today transfer ethanol at Argo was offered at $3.50 per gallon, up 17 cents and a record high. Prompt transit ethanol at Oregon and Arizona both traded at $4.03 per gallon, up 21 cents and 15 cents, respectively.
George Orwel can be reached at email@example.com
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