Spot ethanol prices were mixed during a thinly-traded session Thursday, with New York Harbor and Houston values extending their retreat on the back of rising supply as well as lower corn and gasoline futures.
A trade source cited pressure from rising inventories, with recent data showing ethanol supply running ahead of demand. "For ethanol, plants are producing at record high rates," he added. Prompt delivered ethanol was down 1.0 cent at $1.40 per gallon for both the New York Harbor and Houston spot markets.
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