Ethanol Blog

Ethanol Gains, RINs Nosedive on EIA Stock Draw, EPA Talk

U.S. spot ethanol prices rebounded Thursday after the Energy Information Administration said ethanol stocks fell last week to the lowest level since January despite higher production.

But the market for tradable compliance credits plunged on chatter the Environmental Protection Agency would issue Friday its long-delayed proposal on 2014, 2015 and 2016 Renewable Volume Obligations under the Renewable Fuels Standard.

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2015 D6 RINs traded down 14.5 cents, at 52.0 cents, and 2014 D6 RINs were seen 13.5 cents lower at 53.5 cents. Prompt transfer ethanol at the Argo terminal near Chicago traded at $1.525 per gallon, up 0.25 cent on the day.

New York Harbor June delivered ethanol barges were talked early at a $1.615 to $1.63 per gallon bid/ask spread for a gain of 0.25 cent. Ethanol for this week transfer in northern California was discussed at a $1.68 to $1.71 per gallon bid/ask spread, up 0.5 cent on the day.

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

(ES)

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