Spot ethanol prices rallied in early trade Thursday amid short-covering as newly updated Category 4 Hurricane Joaquin was projected to hit the U.S. East Coast this weekend, potentially hampering barge movements and delaying delivery of ethanol and to the New York Harbor, Philadelphia, Baltimore, Virginia, and North Carolina.
A New York Harbor October delivered ethanol barge was valued at $1.64 gallon, up 2.0cts, while today transfer ethanol at the Argo supply hub near Chicago traded at $1.58 gallon. Any-October ethanol traded at $1.56 gallon, up 3.5cts on the day.
George Orwel can be reached at email@example.com.
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