Spot ethanol prices tilted lower again in the New York, Chicago and California markets, pressured by continued excess supply and sluggish demand.
A trader said he expects federal data for publication Sept. 24 to show a decline in domestic production for last week due to plant maintenance.
"We are trying to find the right balance between production and demand," said a trader. "The West Coast is obviously well supplied." This week delivered California ethanol was talked at a $1.72 to $1.80 per gallon bid/ask spread before being offered at $1.77 per gallon, down 3.5 cents on the day.
George Orwel ...