Spot ethanol prices rallied in early trade Wednesday after the Energy Information Administration reported U.S. ethanol stockpiles declined to a four-week low as imports slowed and overall production was little changed. EIA data detailed a 300,000 bbl stock draw to 17.0 million bbl, with most of the draw seen along the West and Gulf Coasts.
Today, Argo transfer ethanol traded $2.30 per gallon right after the data came out, with talk at $2.30 to $2.36 per gallon bid/ask, up 6.0 cents.
On the West Coast, California prompt delivered ethanol traded at $2.60 per gallon, up 7.0 cents, while Pacific Northwest ethanol traded at $2.54 per gallon, up 3.0 cents.
George Orwel can be reached at firstname.lastname@example.org
© Copyright 2014 DTN/The Progressive Farmer. All rights reserved.