Ethanol Blog

Spot Ethanol Prices Advance on Tight Supply

By  George Orwel

U.S. spot ethanol prices moved mostly higher in early afternoon trade on short covering spurred by concerns over tightening supply and gains for Chicago Mercantile Exchange corn futures, with corn futures boosted by strong export demand.

Prompt Argo ethanol edged up 1.0 cent to $1.89 per gallon while prompt ethanol in the New York Harbor delivered by barge was seen at a $2.17 to $2.20 per gallon bid/ask, up 2.5 cents on the day.

Traders await ethanol inventory data due out Wednesday that's expected to show a drawdown in U.S. inventories, driven largely by lower domestic production.

George Orwel can be reached at george.orwel@telventdtn.com

(ES)

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Comments

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Martin Tjossem
2/6/2014 | 8:42 AM CST
GWL, you need to remember ethanol's cheap octane and clean air values---really helps dirty gasoline come up to "good enough".
GWL 61
2/5/2014 | 4:58 PM CST
Lobby for more fuel efficient engines for one! My theory is your gonna pay at the pump or the grocery store and or probably both.....ethanol won't stop the bleeding of the American consumers pocket book regardless.
Roger Cooper
2/5/2014 | 4:41 PM CST
What do you replace about 13-14B gal. of ethanol with that will cheapen any crude oil product? And where are you going to refine that much additional crude in the U.S? You will need more crude and pay more for refined gasoline, diesel, propane, and a host of products made from crude.
GWL 61
2/5/2014 | 4:18 PM CST
You do realize that ethanol won't cheapen up any of those prices?
Roger Cooper
2/4/2014 | 7:44 PM CST
Anybody upset over $97 crude oil, $4 diesel fuel, and $5.20 propane?
GWL 61
2/4/2014 | 2:37 PM CST
Goodness ! Did a plant shutdown overnight somewhere? Do you people actually get paid for reporting things on this blog?