Spot ethanol prices in the Chicago area rallied during an actively traded early session today, boosted by federal data showing domestic supplies tumbled to a better than three months low last week while demand increased.
Energy Information Administration said ethanol stocks fell 1.0 million bbl to 17.3 million bbl during the week-ended Aug. 22, with domestic production down 2.6% to 913,000 bpd. Demand rose 2.9% to 889,000 bpd. Midwest stocks tumbled 600,000 bbl to 5.7 million bbl, a three-month low. Today transferred ethanol at the Argo hub traded at $2.26 per gallon, up 3.0 cents. Any-August ethanol traded at $2.24 per gallon, up a penny.
George Orwel can be reached at firstname.lastname@example.org
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