Ethanol Blog
George Orwel DTN Energy Reporter

Thursday 05/08/14

Spot Ethanol Prices Continue Steep Gains on Supply Worries

Spot ethanol prices continued to rally Thursday on bullish midweek federal data showing a draw for domestic supply while demand is expected to rise ahead of the summer peak driving season. A trade source said part of the reason the market reacted so positively to the data was because some traders were looking to export, which means supply could dwindle in the months ahead. As a result, prompt Chicago delivered ethanol prices have spiked 9.5% since this week so far, with June and July delivered ethanol cargoes also trading strong. Prompt Argo traded at $2.25 gallon, up 8.0 cents, while May New York Harbor was $2.30 gallon, up 9.0 cents. Phoenix, Ariz., prompt ethanol traded at $2.36 gallon, up 15.0 cents.

George Orwel can be reached at george.orwel@telventdtn.com.

(ES)

Posted at 3:58PM CDT 05/08/14 by George Orwel
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