U.S. spot ethanol traded higher Monday on the back of lower ethanol supply and speculation logistical woes have delayed shipment in the Chicago area.
"Lots of trains (are) sitting idle on tracks here in Chicago, so that lines up," said a trade source, explaining why the market was higher.
Today ethanol at the Argo hub traded at $2.22 and $2.25 per gallon, up 6.0 cents. August delivered ethanol barge at the New York Harbor traded at $2.25 per gallon, up 5.0 cents. Prompt delivered Northern California ethanol trade at $2.35 per gallon, up 3.0 cents on the day.
George Orwel ...