Ethanol Blog
Argo Spot Ethanol Tumbles with Corn After Supply Forecast
By
George Orwel
U.S. spot ethanol prices fell in Chicago Tuesday on the back of weaker Chicago Mercantile Exchange corn futures amid a forecast for a bumper crop this year.
Higher corn supplies would increase available feedstock for ethanol production, and a precipitous drop in corn prices has been one of the main pressures for ethanol prices even as ethanol producer margins have increased recently.
Today transfer ethanol at the Argo hub near Chicago was talked at a $2.10 to $2.11 per gallon bid/ask, down 3.0 cents on the day.
George Orwel can be reached at george.orwel@telventdtn.com
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