Ethanol Blog
Argo Spot Ethanol Trades Lower ahead of USDA Report
By
George Orwel
Spot ethanol prices tumbled in Chicago Tuesday on the back of falling corn futures on the Chicago Board of Trade. Traders moved to reduce their risk exposure ahead of a report due out Wednesday morning from the U.S. Department of Agriculture that's expected to show a big crop this year.
"It's just position squaring before tomorrow," said analyst Brendan Marshall. Sources said today transfer ethanol at the Argo terminal near Chicago traded at $2.215 per gallon, down 3.5 cents for the day.
George Orwel can be reached at george.orwel@telventdtn.com
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