Ethanol Blog
Spot Ethanol Prices Slump in Thin Trade on Weak Demand
By
George Orwel
The cash market for ethanol is thinning tremendously, with very few traders participating amid a dearth of buying interest after federal data showed domestic inventories spiked to the highest level in 1-1/2 years. That has led prompt delivered product in Chicago and New York to be valued at parity to any-October and November prices as sellers try to attract buyers. Argo prices have traded today at a $1.455 gallon for a 5.5 cent loss while New York Harbor prices are valued at $1.58 gallon for a 3.0 cent loss. Argo spot ethanol prices are now at the lowest level since February 2007.
George Orwel can be reached at george.orwel@dtn.com
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