Ethanol Blog
Spot Ethanol Tracks Plunging Corn Futures on Supply Talk
By
George Orwel
The spot ethanol market sold off in Chicago and along the West Coast Wednesday under pressure from a plunge in corn futures after a report showed conditions of corn crop improved due to warm weather and ample moisture. Traders await weekly ethanol supply data from the Energy Information Administration due out tomorrow that's expected to show higher supply.
Prompt Argo ethanol traded at $2.20 per gallon, down 5.0 cents. Prompt Northern California ethanol traded at $2.35 per gallon, down 5.0 cents, with Arizona spot ethanol trading at $2.33 per gallon, down 5.0 cents.
George Orwel can be reached at george.orwel@dtn.com
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