Ethanol Blog
Spot Ethanol Prices Slump on Weak Demand, Lower Corn Futures
Spot ethanol prices eased 1.5 cents to 2.0 cents in New York and Chicago while down 3.5 cents to 4.0 cents on the Gulf and West Coasts, respectively, in early thin trade Tuesday, pressured by weak demand and rising supply as well as weakness in Chicago Board of Trade corn futures.
Trade sources expect to see another increase in weekly ethanol supply when federal inventory data is released tomorrow morning. EIA last week reported ethanol supply jumped to a 20.0 million bbl better than six months' high.
George Orwel can be reached at george.orwel@telventdtn.com.
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