Ethanol Blog
Tight Supply continues to Underpin Spot Ethanol Gains
Spot ethanol prices climbed again Tuesday amid growing worries demand is outstripping supply. A short squeeze in Chicago triggered strong offers for prompt week-delivered product, with the April ethanol contract on the Chicago Board of Trade at a 71.0 cents premium to May delivery ahead of the expiration of the April contract Thursday.
This week transfer for ethanol at Argo was talked 5.0 cents higher at a $3.85 to $3.95 per gallon bid/ask, a fresh record high. New York Harbor April barge was talked at a $4.15 to $4.25 per gallon bid/ask, up 8.0 cents. May ethanol barges at the Harbor traded at $3.11, $3.15 per gallon and $3.20, up 21.0 cents. Prompt delivered ethanol in northern California traded at $4.01 per gallon.
George Orwel can be reached at george.orwel@telventdtn.com.
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