Spot ethanol prices spiraled further down Thursday after U.S. data confirmed domestic fuel supplies at an 18.3 million bbl better than 14-month high, while implied demand tumbled to a near one-month low at 862,000 bpd.
Prompt ethanol at the Argo hub near Chicago was valued at $2.20 per gallon, down 1.5 cents, with prompt New York Harbor ethanol talked at a $2.20 to $2.24 per gallon bid/ask, down 5.5 cents. July Harbor ethanol barge traded at $2.22 per gallon, down 3.0 cents. Prompt California ethanol was discussed at a $2.57 to $2.63 per gallon bid/ask spread, down 3.0 cents.
George Orwel can be reached at firstname.lastname@example.org
© Copyright 2014 DTN/The Progressive Farmer. All rights reserved.