Ethanol Blog
George Orwel DTN Energy Reporter

Thursday 05/15/14

Bearish Corn Report Sparks Selloff in Ethanol Spot Market

Spot ethanol prices tumbled in Chicago and New York Thursday morning on the back of plunging Chicago Board of Trade corn futures after a report by the U.S. Department of Agriculture said dry weather in the Midwest would allow farmers to finish planting soon, raising the prospect of higher corn and ethanol supply, a trader said. Prompt ethanol at Argo near Chicago traded at $2.27 gallon, down 3.0 cents, while June ethanol barge in the New York Harbor was talked at a $2.18 to $2.22 gallon bid/ask, sliding 9.0 cents on the day.

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

(ES)

Posted at 10:40AM CDT 05/15/14 by George Orwel
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