Ethanol Blog
Spot Ethanol Values Drop as Supply Forecast Triggers Selling
U.S. spot ethanol prices extended selling Tuesday on expectations federal data due Wednesday will show another weekly production increase and lower demand.
The Energy Information Administration's Short-Term Energy Outlook report released Dec. 9 showed ethanol production is expected to average 931,000 bpd this year, revised up 4,000 bpd from a month ago.
Prompt ethanol at Argo near Chicago was pegged at $2.06 per gallon, down 3 cents. Prompt delivered ethanol in northern California traded 4.5 cents lower at $2.23 per gallon, with Arizona spot ethanol also traded at $2.23 per gallon, down 13 cents and 11 cents respectively.
George Orwel can be reached at george.orwel@telventdtn.com
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