U.S. spot ethanol values edged higher after selling pressure late last week that was considered overdone combined with support from rail logistics along the West Coast and Chicago that are hampering deliveries.
"Last week we had some heavy selling pressure," one trader asserted. "Maybe a little bit too much. Also, there are some rail logistics giving us some spark."
Prompt ethanol at Chicago was pegged up 0.5cts at a $2.16 to $2.175 gallon spread while the West Coast gained 0.5cts at $2.305 gallon.
Myke Feinman can be reached at email@example.com.
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