Spot ethanol prices rebounded Friday on support from a short-covering rally for corn and RBOB futures after U.S. consumer confidence jumped to an 11-year high while an estimate for oil supply growth from Russia and the Americas was revised lower.
Prompt ethanol under Chicago Rule 11 was talked at $1.365 per gallon, up 2.5 cents, while in-tank transfer ethanol at Linden, N.J., was offered at $1.45 per gallon, up 4.0 cents. Ethanol shipped to northern California was seen at $1.52 per gallon, up 6.0 cents on the day.
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