Spot ethanol prices were lower in New York and Chicago after federal data showed domestic ethanol stocks rebounded while output eased off a record high last week, matching analysts' forecast.
The Energy Information Administration this morning reported United States ethanol inventories rose 300,000 bbl or 1.9% to 18.2 million bbl during the week-ended June 20 after easing the prior week.
Production by plants around the nation fell 34,000 bpd or 3.5% to 938,000 bpd.
Today delivered ethanol at the Argo hub near Chicago traded at $2.09 per gallon, down a penny. June 20 ethanol barge in the New York Harbor was discussed 1.0 cents lower at a $2.10 to $2.15 per gallon bid/ask spread.
George Orwel can be reached at email@example.com
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