Ethanol Blog

Spot ethanol prices eased in Chicago in early trade Friday under selling pressure from a combination of a stronger dollar, weak corn and gasoline futures and signs of soft demand.

"The turnaround with the U.S. dollar and rumors abound that Brazil sold South Korea corn at a steep discount and a slow cash market pretty much stopped the bulls in their tracks," said analyst Dan Flynn in Chicago.

Prompt transfer ethanol at Argo near Chicago was talked at a $1.58 to $1.60 per gallon bid/ask, down 3.0 cents. Chicago ethanol traded under Rule 11 for this week shipment was talked at a $1.62 to $1.65 per gallon bid/ask, down 0.75 cents. In the tradable compliance credits market, trade sources said 2015 D6 RINs traded up 1.0 cent at 74.0 cents. RINs and ethanol often trade inverse to each other.

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

(ES)

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