Ethanol Blog

Chicago and New York spot ethanol prices were unchanged Thursday, with traders expecting blending demand to improve though they are reticent to push up prices now since supply remains near a three-year high.

Speculation for higher future demand was backed by the contango price structure. A heavy snowstorm in the Northeast is hampering travel, but the impact on railroad shipments of ethanol is unclear.

Prompt Argo supply terminal near Chicago was valued unchanged at $1.47 per gallon, while April prices were valued at $1.49 per gallon. New York Harbor ethanol barges were talked at a $1.575 to $1.605 per gallon bid/ask for March and $1.60 per gallon for April and $1.63 per gallon for May, unchanged on the session.

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

(ES)

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