U.S. spot ethanol prices rallied after the Energy Information Administration reported ethanol inventories were drawn down from a 17-month high while production fell to a three-month low. Domestic ethanol stocks fell about 300,000 bbl to 18.3 million bbl during the week-ended Aug. 1.
Ethanol production decreased 52,000 bpd or 5.5% last week to 902,000 bpd. Today transfer ethanol at the Argo hub traded at $2.10 and then talked at $2.11 to $2.12 per gallon, up 2.5 cents. August delivered ethanol barge at the New York Harbor was talked at a $2.21 to $2.23 per gallon bid/ask, up 7.0 cents for the day.
George Orwel can be reached at email@example.com.
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