Ethanol Blog

Ethanol prices rose in midmorning trade but have since pared the gains at the Argo hub in the Chicago area and in the New York Harbor after U.S. data showed total inventories plunged 5% to 17.0 million bbl, a five-month low.

However, a trade source speculated the market may not be that tight and domestic demand only slightly stronger. "I think a lot of products [are] sitting in railcars ... uncounted inventory," he said. Prompt ethanol at Argo was valued at $1.80 per gallon, up 1.0 cent. November ethanol barge at the New York Harbor was offered at $2.07 per gallon for a 4.0 cents session gain.

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

(ES)

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