New York spot ethanol prices traded lower on the back of a retreat for corn futures and talk China has stopped issuing permits to import dried distiller grains from the United States.
The move raises questions about demand for ethanol and corn. Federal data last week showed East Coast gasoline supply at a 6.9 million bbl 15-month high while domestic demand fell to a near one-month low at 862,000 bpd in the week-ended May 30.
Trade sources said New York Harbor ethanol barges for June delivery traded at $2.28 per gallon, down 1.5 cents on the day.
George Orwel can ...