Ethanol Blog

Spot ethanol prices plunged along the West Coast and at other regional markets after separate federal reports showed U.S. ethanol stocks reached a 15-month high while an estimate for global corn stocks was raised.

EIA said ethanol stocks rose 170,000 bbl to 18.42 million bbl last week, the highest supply level since mid-March 2013. For feedstock, USDA upped its global corn output forecast for this year by 2.0 million tons.

Trade sources said prompt Argo ethanol traded at $2.16 gallon, down 5.0 cents, with New York Harbor June ethanol barge 6.5 cents lower at a $2.20 to $2.25 per gallon bid/ask. Ethanol in California traded at $2.48 per gallon, down 9.0 cents, with ethanol in Oregon and Arizona traded at $2.44 per gallon, down 11.0 cents and 12.0 cents, respectively.

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

(ES)

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