Spot ethanol prices continued the week's downtrend Wednesday, despite a federal inventory report showing record low domestic ethanol supply and strong demand.
"It's a real good report today," commented Brandan Marshall, analyst for Northstar Commodities in Minneapolis, Minnesota. "Pretty good demand."
U.S. ethanol stocks fell 500,000 bbl to 15.0 million bbl for the week-ended Oct. 25 according to Energy Information Administration data, the lowest supply level since the government began reporting ethanol data in June 2010.
The stock drawdown occurred while blending demand reached a 3-1/2 month high for the week reviewed.
Chicago spot ethanol was talked at a $1.90 ...