Spot ethanol prices extended Monday's losses in early trade Tuesday ahead of weekly data that's expected to show a glut in ethanol supply while demand remains sluggish.
"(You) can't bank on producers trimming back (output) ... (we) need better domestic demand and/or exports to balance things out," said a source.
Prompt Argo ethanol talked at a $1.58 to $1.63 PER gallon bid/ask, down 1.5 cENts on the day. October barges are talked in a $1.67 to $1.71 per gallon bid/ask spread, down 0.5 cents. Prompt Arizona ethanol was talked at $1.71 per gallon, down 3.0 cents.
George Orwel can be ...