Ethanol Blog
Myke Feinman Refine Fuels Reporter

Wednesday 07/23/14

Spot Ethanol Prices Mostly Higher with Supply Draw

U.S. spot ethanol values edged higher in most of the nation's key trade hubs after new federal data showed ethanol stocks declined despite a surge in production to a five-week high last week.

"The fact that you have production at high levels and are not building inventory -- that is somewhat supportive," commented Jerrod Kitt, strategist for the Linn Group in Chicago.

Ethanol production increased 16,000 bpd or 2.0% to 959,000 bpd, the Energy Information Administration reported this morning. U.S. ethanol inventories decreased 5,000 bbl to a four-week low of 17.94 million bbl during the week-ended July 18.

Prompt ethanol at Chicago was pegged up 2.0 cents at $2.15 per gallon while New York Harbor was up 1.0 cent at $2.24 per gallon.

Myke Feinman can be reached at myke.feinman@telventdtn.com.

(ES)

Posted at 3:24PM CDT 07/23/14 by Myke Feinman
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