U.S. spot ethanol prices traded sharply higher Wednesday, boosted by a bullish report by the Energy Information Administration showing total ethanol stocks tumbled last week to a seven-week low while demand remains near a six-week high. “These are bullish statistics,” said one trader.
Prompt ethanol at the Argo terminal near Chicago was talked at a $2.70 to $2.73 per gallon bid/ask range, up 2.5 cents on the day. September New York Harbor barged ethanol traded early at $2.80 per gallon, up 4.0 cents on the session.
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