Ethanol Blog

Spot ethanol prices extended lower in early trade Thursday, as worries over increasing domestic ethanol production overshadowed the demand outlook.

"People are nervous about available supply," said one trader. "They are wondering about production levels. Demand is good but it's offset by high production."

Most of the trades today have involved the sale of this week shipment of Chicago ethanol under Rule 11, which traded at $1.53, $1.52 and $1.51 per gallon. Prompt Argo ethanol traded at $1.49 per gallon, down 0.5 cents, while any June Argo ethanol traded at $1.495 per gallon, down 1.5 cents. New York Harbor June ethanol barge was seen at $1.58 per gallon, down 1.0 cents.

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

(ES)

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