Ethanol Blog
George Orwel DTN Energy Reporter

Wednesday 06/11/14

Spot Ethanol Prices Crater as Supply Runs ahead of Demand

Spot ethanol prices plunged along the West Coast and at other regional markets after separate federal reports showed U.S. ethanol stocks reached a 15-month high while an estimate for global corn stocks was raised.

EIA said ethanol stocks rose 170,000 bbl to 18.42 million bbl last week, the highest supply level since mid-March 2013. For feedstock, USDA upped its global corn output forecast for this year by 2.0 million tons.

Trade sources said prompt Argo ethanol traded at $2.16 gallon, down 5.0 cents, with New York Harbor June ethanol barge 6.5 cents lower at a $2.20 to $2.25 per gallon bid/ask. Ethanol in California traded at $2.48 per gallon, down 9.0 cents, with ethanol in Oregon and Arizona traded at $2.44 per gallon, down 11.0 cents and 12.0 cents, respectively.

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

(ES)

Posted at 4:04PM CDT 06/11/14 by George Orwel
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