Ethanol Blog
Spot Ethanol Prices Down on Sluggish Demand, Increased Supply
U.S. spot ethanol prices declined sharply in the Midwest and West Coast, as easing supply concerns exacerbated selling, with a dearth of buying interest forcing sellers to lower offers.
Federal data issued last week showed ethanol stocks increased during the week-ended Nov. 28 while demand and domestic output declined. Ethanol delivered today at Argo hub near Chicago traded early at $2.18 gallon, down 7 cents on the day, while next week transfer has been talked $2.08 to $2.13 per gallon bid/ask. Ethanol delivered this week to California was talked 4.5 cents lower at $2.35 to $2.40 per gallon bid/ask.
George Orwel can be reached at george.orwel@telventdtn.com
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