Spot ethanol prices were mixed in thin trade Monday with buyers and sellers far apart on pricing, suggesting an impasse. "It's ... the first day of [trade for] the month," said a source. "Buyers still hope that the backwardation will be real ... sellers expect it to roll up." Prompt northern California ethanol traded at $2.77 gallon and twice at $2.82 gallon, unchanged. Prompt ethanol at Argo hub near Chicago was offered without a bid at $2.40 gallon for a 1.0cts session gain. June New York Harbor ethanol barges were talked at $2.35 to $2.45 gallon, down 3.0cts on the day.
George Orwel can be reached at email@example.com.
© Copyright 2014 DTN/The Progressive Farmer. All rights reserved.