Spot ethanol prices eased in Chicago, New York and California, as rising domestic production met with selling pressure in the gasoline and corn futures markets. Trade volume was thin at the start of the trade week. The most recent Energy Information Administration data detailed domestic production rising 29,000 bpd or 3.2% to 931,000 bpd during the week-ended Aug. 8 while implied ethanol demand edged up 15,000 bpd or 1.7% to 890,000 bpd.
Today Argo transfer ethanol was talked at a $2.27 to $2.30 per gallon bid/ask, down 2.5 cents, August New York ethanol barge talked at a $2.26 to $2.30 per gallon bid/ask, down 2.0 cents. Prompt Northern California ethanol traded at $2.45 per gallon, down 1.0 cent.
George Orwel can be reached at email@example.com.
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