Ethanol Blog

NYH Spot Ethanol Trade Slows; Traders Coy on Price

Rick Kment
By  Rick Kment , DTN Analyst

New York Harbor ethanol continues to be an elusive market amid conflicting talk on available regional supply and demand, with few traders willing to show their hands on price.

A market source said a lack of physical product at the Harbor means nobody's trading there while another said ample gasoline supply for the regional market has depressed gasoline prices, which may have a knock-on effect on ethanol prices.

Prompt Harbor ethanol barge was discussed wide at a $2.34 to $2.45 per gallon bid/ask spread, down 0.5 cents from a day prior, with December barges talked $2.20 to $2.27 per gallon bid/ask. One trader said prompt Harbor should trade at $2.75 per gallon, adding "There isn't a gallon to be bought within 40 cents of a $2.25 bid in the Harbor."

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

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