Ethanol Blog

Argo Spot Ethanol Gains After Release of EIA Supply Data

Spot ethanol prices ranged higher in Chicago and were flat to lower in Houston and New York after a mixed report from the Energy Information Administration showed ethanol inventories fell again last week, down nearly 100,000 bbl to 17.6 million bbl. EIA also showed domestic production soared to a fresh record high at 992,000 bpd, and blending demand rose 2.7% to an 880,000 bpd one-month high. Today delivered ethanol at Argo traded at $1.75 gallon, with prompt than talked at a $1.70 to $1.73 gallon bid/ask, trimming the gains to 0.5cts.

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

(CZ)

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