Ethanol Blog

Spot ethanol prices posted steep losses Monday as traders booked profits after the Thanksgiving Day holiday weekend, with Chicago the most actively traded cash market where sellers outnumbered buyers.

"The (profit taking was) long overdue given the crude/gasoline relationship," said a trader. "Producers are hedging. They are cashing in." Today transfer ethanol at Argo near Chicago traded at $2.60, $2.50, $2.40 and $2.30 per gallon, down 55 cents on the day, while any December was offered at $1.90 per gallon. On Nov. 26, prompt Argo ethanol traded at a better-than seven-month high of $2.85 per gallon.

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

(ES)

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