Ethanol Blog
George Orwel DTN Energy Reporter

Monday 07/07/14

Argo Spot Ethanol Prices Advance on Short-Covering

Spot ethanol values gained at the Kinder Morgan-operated Argo terminal in early trade Monday as traders moved to cover their short positions after the July 4th holiday weekend, offsetting falling corn and gasoline futures prices. "There are more buyers than sellers," said one Houston-based trader. "There are a few traders who were short, that's why Argo is strong," added an Omaha, Neb.-based trader. Prompt-delivered ethanol at the Argo hub near Chicago traded at $2.17 gallon for a 2.0cts gain, with any July Argo changing hands at $2.08 gallon.

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

(ES)

Posted at 1:36PM CDT 07/07/14 by George Orwel
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