Spot ethanol prices edged higher in early trade Monday on the back of Chicago Board of Trade corn futures that rose on concern about delays in planting this season's crop due to cold, damp weather.
USDA will issue its latest data on how much corn has been planted later today. Ethanol supply has improved, but demand is expected to rise as well ahead of the summer peak driving season. Prompt Argo transfer ethanol was talked at a $2.33 to $2.38 per gallon bid/ask, up 1.5 cents.
May New York Harbor ethanol barge was discussed 1.0 cents higher at a $2.40 to $2.50 per gallon bid/ask. Prompt northern California rallied 6.0 cents on the day, talked at a $2.60 to $2.70 per gallon bid/ask.
George Orwel can be reached at firstname.lastname@example.org.
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