Spot ethanol prices eased Tuesday on reduced buying interest and easing supply concerns, with a retreat by both Chicago Board of Trade corn futures and New York Mercantile Exchange RBOB futures adding downside pressure on ethanol values.
"Corn is a bit down, and that's causing some of the (ethanol) weakness," said a trader. July delivered ethanol barge at the New York Harbor was offered at $2.30 per gallon, down 1.25 cents on the day, while today transfer ethanol at the Argo hub near Chicago traded at $2.14 per gallon, down 3.0 cents on the day.
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