Spot ethanol prices were talked lower Thursday afternoon in Chicago despite higher gasoline and corn futures. The ethanol market rallied early midweek after federal data showed ethanol stocks fell to a six-week low before reversing down late in the day, and extending losses Thursday.
The market is choppy. Any-October delivered ethanol at Argo hub near Chicago was talked at a $1.73 to $1.77 gallon bid/ask spread, while prompt product initially was discussed at a $1.75 to $1.80 per gallon bid/ask, before pegged at $1.765 per gallon, down 3.0 cents on the session.
George Orwel can be reached at firstname.lastname@example.org